This morning, President Donald Trump signed an executive order which requires that two regulations must be rescinded for every new federal regulation created. Trump aims to keep his campaign promise to small business and corporate leaders to relax federal regulation, which the administration believes is strangling the economy.
Details
“This will be the biggest such act that our country has ever seen,” Trump said before signing his latest executive order. “There will be regulation, there will be control, but it will be a normalized control where you can open your business and expand your business very easily.
And that's what our country has been all about.”
As with the multiple executive orders signed by Trump during his first week in office, this order is light on the details and specifics of the new policy. The full text of the executive order has yet to be revealed by the administration, but Trump claims the order not only implements his new 2 for 1 policy, but also cuts an unknown amount of current regulations.
All about business
The Trump administration's latest executive order marks a triumph for small scale businesses (which in meetings with the administration) stated their disappointment with the current regulatory system. Considering most of Trump’s cabinet picks are billionaires, this latest salvo at dismantling the Obama legacy and enhancing the role of corporate and small business interests in government should come as no surprise.
Senior White House officials also stated the order will begin a process which will set an annual cap on the cost of regulations each year.
This week looks to be just as busy at the White House as last week, with administration officials indicating that Trump intends to name a nominee to the U.S. Supreme Court on Tuesday evening during prime time on television.
Add this to the rising criticism and protests against the administration’s executive order last week banning immigration from certain Muslim majority countries, and the Trump administration’s second week in office will be full of the drama President Trump seems to bask in.
