The administration has cut 22 regulations for every new rule introduced, President Donald Trump announced at the White House Thursday.
Agencies and departments issued 67 deregulatory actions and imposed only three new rules in fiscal year 2017, according to senior administration officials. The number far exceeded Trump’s goal through his executive order to cut two old rules for any new regulation proposed.
While making the announcement, Trump stood beside a mountain of paperwork that makes up the Federal Register. A piece of red tape connected a much smaller pile, which represented the regulatory code in 1960.
“Within the first eleven months, we canceled or delayed over 1,500 planned regulatory actions, more than any previous president, by far,” Trump said. “And you see the results, when you look at the stock market, the results of companies, and when you see companies coming back into our country.”
Read more at the Washington Free Beacon.