WASHINGTON �� President Donald Trump will promote his administration's efforts to roll back federal regulations with a speech Monday claiming that existing rule reversals and delays have already eliminated an estimated $300 million a year.
Trump's White House address will highlight the administration's view that reversing, delaying and rewriting rules is helping spur economic growth, jobs and innovation, said Neomi Rao, administrator of the Office of Information and Regulatory Affairs.
"In the process of rolling back regulations, we're really looking to find regulations that are no longer working, that are duplicative or ineffective," Rao said at a briefing.
Trump has said he will cut unnecessary rules across the federal government. He directed his department heads to kill two regulations for each new one they issue and ordered agencies to cap the costs of new rules.
While the administration has begun rewriting and delaying rules, including regulations governing carbon dioxide emissions and hydraulic fracturing, just 10 major rules have been finalized since he took office, according to OIRA records.
A proposed delay of key portions of the Department of Labor's fiduciary rule setting standards for brokers and dealers is among the changes driving the White House's estimate of $300 million in annual savings.
Public interest groups say the administration is going too far in its zeal to chisel away at the regulatory state.
"Trump and the Republican party's attacks on regulation are hurting regular Americans and setting the stage for large-scale deregulatory disasters," Public Citizen said. The effort "represents a craven attempt at self-enrichment and payback to corporate donors."
