Trump administration touts effort to undo regulations

Trump administration touts effort to undo regulations

Trump administration touts effort to undo regulationsTrump administration touts effort to undo regulations

WASHINGTON (Reuters) – The Trump administration said late on Tuesday it has withdrawn or delayed more than 2,200 regulatory actions since taking office in January 2017 as it vows to reduce the role of government.

The White House on Wednesday is releasing its biannual status report on governmental regulatory efforts said in the budget year that ended Sept. 30 it had reduced regulatory costs by $23 billion.

In total, the administration it has issued just 14 new significant regulatory actions and eliminated 176.

On a call with reporters on Tuesday, the White House did not detail how much in societal benefits were foregone with the deregulatory actions.

The administration said one controversial planned rule — freezing fuel efficiency standards at 2020 levels through 2026 — would reduce regulatory costs by $340 billion, including automakers by $319 billion and reduce the projected cost of new vehicles and eliminate some anticipated road deaths.

But the proposal, the Trump administration said, would boost U.S. fuel consumption by 500,000 barrels of oil per day by the 2030s, boosting fuel costs by an estimated $150 billion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source : Reuters Link

Related Post