The Trump administration has stopped over 800 regulations proposed under former president Barack Obama, according to a new White House report.
The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government’s regulatory footprint.
In a report, the Trump administration said it had withdrawn 469 planned actions that had been part of the Obama administration’s regulatory agenda published last fall.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.
Eliminating red tape is a top priority for President Trump, who has issued several executive orders dealing with regulations, including the elimination of two federal rules for every new one introduced.
Officials said the administration has gone further, eliminating 16 regulations for every new rule proposed.
Trump halted $181 billion worth of Obama administration regulations on his first day in office by issuing a regulatory moratorium. Additionally, the administration and Congress have saved at least $60 billion in regulatory costs by rolling back Obama rules through the Congressional Review Act.