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Fact Sheet - President Donald J. Trump's Historic Deregulatory Actions Are Creating Greater Opportunity and Prosperity for All Americans

July 16, 2020

We've begun the most far-reaching regulatory reform in American history. --President Donald J. Trump

LEADING HISTORIC REGULATORY REFORM: President Donald J. Trump has led a historic effort to eliminate unnecessary and costly regulations that hurt American businesses and families.

  • Under President Trump's leadership, Federal agencies have taken more than 7 deregulatory actions for every significant regulatory action.
  • President Trump's deregulation efforts have already reduced regulatory costs by $50 billion and are on track to reduce regulatory costs by at least that much in fiscal year 2020 alone.
  • The President's Governors' Initiative on Regulatory Innovation is working to reduce outdated regulations, advance occupational licensing reform, and align Federal and State regulations.
  • The Administration continues to take action to modernize and accelerate environmental reviews in order to complete infrastructure projects in a timely and efficient manner.
  • The President is rolling back regulations that harm American workers, including providing relief to farmers by repealing the burdensome Obama-era Waters of the United States Rule.
  • In 2019, the President signed two executive orders to increase transparency in Federal agencies and protect Americans and their small businesses from administrative abuse.

LIFTING UP AMERICANS: President Trump is driving down costs for consumers and helping low-income Americans, who are disproportionately burdened by overregulation.

  • Deregulation is lowering costs for all Americans, particularly benefitting low-income individuals who are disproportionately burdened by overregulation.
  • The Administration cut red tape in the healthcare industry, providing Americans with more affordable healthcare and saving Americans nearly 10 percent on prescription drugs.
  • Deregulation of both prescription drugs and internet access helped the poorest fifth of households eight times more than the wealthiest fifth of Americans.
  • The Administration replaced costly Obama-era fuel standards with the Safer Affordable Fuel Efficient (SAFE) Vehicles rule, making cars more affordable for low-income Americans.
    • This rule is expected to lower the price of new vehicles by $2,200, according to the Council of Economic Advisers.
  • The President established a council to reduce regulatory barriers to affordable housing.

SUPPORTING FAMILIES AND BUSINESSES: The Administration's historic deregulatory efforts are putting money in Americans' pockets and helping businesses prosper.

  • The President's deregulatory actions will increase household income annually by at least $3,100 in the coming years.
  • President Trump has signed 16 pieces of deregulatory legislation that are expected to result in a $40 billion increase in annual real incomes.
  • Once fully in effect, 20 major deregulatory actions undertaken by the Administration are expected to save American consumers and businesses over $220 billion per year.
    • The implementation of the SAFE Vehicles rule is estimated to increase the real incomes of Americans by $53 billion per year over the 2021-2029 period.
  • Deregulation is helping small businesses invest and expand by saving them from dedicating time and money on compliance costs.
  • The President's deregulatory actions are also increasing the competition, productivity, and wages of American workers.

Donald J. Trump, Fact Sheet - President Donald J. Trump's Historic Deregulatory Actions Are Creating Greater Opportunity and Prosperity for All Americans Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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