By: Zack Duvall
The White House announced on Thursday that President Donald Trump has cut over 800 regulations, proposed during the last few months of the Obama administration, from active consideration as the administration continues its push to reduce regulation and grow the economy through business-friendly policies.
Of the 800 slashed regulations, 469 planned regulatory actions had been part of the Obama administration’s regulatory agenda published last fall. Officials also reconsidered 391 active regulatory proceedings actions by reclassifying them as long-term or inactive officials said in a report outlining the move by the White House’s economic team.
The report detailing the action by the Trump administration comes on the heels of recent anticipation from investors on Wall Street of such action by the White House, that has led to a steady increase in share prices and greater confidence on the exchange floor.
In February, the President signed an executive order that called for the creation of “regulatory task forces” to be established in every federal agency to ensure that federal officials were not pushing regulatory policies that would impede business growth and that for every one new regulation, two were being cut.
President Trump has been a vocal critic of what he has called “over regulation” and numerous Obama-era policies that he, and supporters, have said have led to severe economic consequences for American business and industry growth.
As part of the order issued in February, all federal agencies are subject to reviews every 90-days to review their compliance with the order’s directives and regulatory reforms issued by the White House.