This Thursday, the Trump Administration continues to make good on it’s promise of eliminating industry stifling and ineffective regulations put in place by the Obama Administration. Under the new administration’s push for deregulation, over 800 Obama era regulations that were set to take effect, are now to be eliminated. This is part of the Trump Administrations larger effort at shrinking the Federal Government’s control on industry, business, and American innovation.
In a report, the Trump administration said it had withdrawn 469 planned actions that had been part of the Obama administration’s regulatory agenda published last fall. Officials also reconsidered 391 active regulatory proceedings by reclassifying them as long-term or inactive “allowing for further careful review,” the White House said.
The steps to eliminate regulations makes good on a much-repeated Trump campaign promise to promote business-friendly policies. Investors have anticipated the action, helping to push share prices higher on hopes that fewer regulations will boost business growth and lead to higher corporate profits.
The Trump administration has identified nearly 300 regulations related to energy production and environmental protection it plans to rescind, review or delay across three agencies – the Environmental Protection Agency and the Interior and Energy Departments.