PULSE POINTS:
❓What Happened: The Trump Administration has initiated measures to cut down on federal regulations, projecting substantial cost savings for American families.
👥 Who’s Involved: President Donald J. Trump and various federal agencies are involved in deregulatory actions.
📍 Where & When: Actions have been implemented across the United States since the beginning of President Trump’s second term.
💬 Key Quote: “The administration expects major cost savings from the President’s aggressive deregulatory agenda as firms respond to the improved business environment over the next several years.” — Council of Economic Advisers (CEA).
⚠️ Impact: The deregulatory measures could result in a total saving of approximately $935 billion, aiding both households and businesses.
IN FULL:
The Trump Administration’s actions to reduce the administrative state could translate into nearly $11,000 in savings for a family of four. One significant aspect of this effort involved President Donald J. Trump immediately halting all unfinalized rules from the Joe Biden era upon taking office, which saved Americans over $180 billion, or around $2,100 per family of four.
Significant savings are also projected from the Environmental Protection Agency (EPA) rollback of tailpipe emission regulations for light- and medium-duty vehicles and modifications and the Department of Transportation rollback of Corporate Average Fuel Economy (CAFE) standards. These actions are expected to account for $755 billion in total savings, equating to approximately $8,800 per family of four.
In addition to these steps, the administration is employing a “10-to-1” deregulatory initiative. This policy mandates that each new proposed rule requires eliminating ten existing ones, amplifying the deregulatory momentum established in the president’s first term. During that period, a “two-for-one” minimum rule led to the removal of 5.5 existing regulations for each significant new one enacted.
President Trump has also managed to save Americans money by crushing inflation, with the Consumer Price Index (CPI) showing the biggest drop in prices in half a decade in March.