Federal Agencies Cut Over $16 Billion in Regulations in 2018
Federal agencies eliminated over $16 billion in regulations in 2018. Eleven agencies saved taxpayers almost $8 billion by getting rid of old rules, many of which were from the Obama administration, according to analysis by the American Action Forum.
“For the first time since the American Action Forum (AAF) began tracking final regulations published in the Federal Register (going back to 2005), federal agencies published net regulatory cost savings for a calendar year,” the report stated.
The analysis, which was flagged by the Washington Examiner, found $8.6 billion in new rules were added, but “nearly a third of the administration’s regulatory actions were actually moves to cut rules and red tape.”
“Rulemaking activity increased notably in the second year of the Trump administration, following the trend of other recent administrations. The reason for this increase is straightforward: In its second year, an administration has more personnel in place and can advance rules begun in year one. The difference for the Trump administration is that a significant portion of regulatory activity this year was deregulatory,” the report stated.