President Donald Trump’s administration has taken tremendous strides in efforts to deregulate the American economy, which in turn frees up budgets across the country for American families.
Unfortunately, the media has kept this success a secret from the American people.
When President Trump entered the White House, he promised to permanently remove two federal regulations for every new regulation issued.
As of today, his administration is averaging a little more than seven federal regulations removed for every new regulation.
This effort is one of Trump’s two key pillars of economic growth. Coupled with tax reform and tax cuts, these deregulation efforts have resulted in huge savings for the average American family.
“President Trump reversed the disastrous over-regulation of the previous administration and has undertaken a historic deregulation campaign to rescue American workers from job-killing regulations,” a senior administration official told The Iowa Standard on Thursday.
The regulatory cuts have helped Americans save money in a variety of ways and provided consumer choice when it comes to home appliances – washers, dryers, showerheads, dishwashers, light bulbs.
“Just 20 of these actions alone are expected to save $220 billion,” a senior administration official told The Iowa Standard.
President Trump’s efforts have helped boost the annual household by $3,100. Families have better access to safer, less expensive cars that are better for the environment. Deregulation has helped Americans save 10 percent on prescription drugs.
All of that – and more – contributed to a historically strong labor market as the nation enjoyed the lowest unemployment rates in over half a century with more than two million Americans rising out of poverty and a major decrease in homelessness. More than seven million Americans were liberated from food stamps.
During the 2016 election, Trump appealed to the “Forgotten American.” There’s no denying that, pre-COVID, his administration helped lift those forgotten Americans to new heights.
Regulations provide plenty of economic damage through increased prices, which hurt lower-income Americans who spend a larger portion of their income on heavily regulated goods like transportation, food and healthcare.
Trump’s administration is prepared to rebuild the country’s economy a second time as America recovers from COVID.
Re-regulation of the economy would cost millions of jobs and dramatically increase the cost of living for all Americans. It would likely be the result of a Trump loss in November.
Another senior administration official stressed that these savings provide real money to Americans.
“This President has from day one been focused on returning power to the people,” they said.
And with the regulatory reform agenda he has delivered, giant steps have been taken in that direction.
It’s all a part of the Great American comeback.
Prior to the pandemic, poverty rates were at all-time lows for African Americans, Hispanics, disabled, veterans, as well as Americans with just a high school diploma.
“Getting back to that is of upmost and paramount importance,” a senior administration official said.