President Donald Trump has issued quite a few executive orders in his first two weeks in office. The most controversial of them by far is the temporary ban on the United States refugee program specifically affecting seven predominantly Muslim countries known to support terrorism. If not for that order, another one would likely have taken center stage and raised the ire of Democrats.
President Trump issued an executive order designed to ease the regulatory burden on small businesses and to curb federal spending. The order requires that for any new regulation issued by the executive branch, two existing regulations must be eliminated. The net cost increase may be no more than $0. So, how does this compare to his predecessor?
The American Action Form (AAF) analyzed the cost of regulations during the Obama administration. The results are staggering. From Breitbart:
“Former President Obama issued more than $890 billion worth of regulations during his presidency,” Breitbart reported. The breakdown of that spending highlights many partisan policy issues.
“The Environmental Protection Agency (EPA) issued $344 billion worth of regulations,” by far the most of any other agency. The Department of Energy issued $194 billion in regulations. The Department of Transportation and the Department of Labor both issued more than $50 billion in rules and regulations.
“The costs of these $890 billion in burdens must be borne by someone,” said AAF direct of regulatory policy Same Batkins, “and it is the American people who inevitably end up paying for these rules in some form.”
It remains to be seen what the net impact of Trump’s new executive order will have on regulatory spending. But it is safe to say that the era of massive regulatory spending growth is thankfully over.