When he came into the White House in 2017, then President Donald Trump, cut and eliminated over 3,200 rules and regulations that were hampering economic development. The cuts took place in federal agencies like the Department of Commerce, Energy Department, Food and Drug Administration, Agriculture, EPA just to name a few.
Liberal environmental groups criticized Trump claiming his deregulating government departments would make things worse for the environment. Business groups like the National Manufacturers Association praised the former president’s red tape cutting stating it saved and created thousands of jobs to the economy.
But when Joe Biden took office in 2021, he rescinded all the Trump deregulations.
According to the American Action Forum (AAF), the cost of Biden regulatory actions since he was sworn in, have passed the $ 1 trillion dollar mark.
American Action Forum economist Douglas Holtz-Eakin says most the regulations have come from Bidens climate agenda primarily through the Environmental Protection Agency’s (EPA) latest tailpipe emissions rule for passenger vehicles.
During the Obama administration, conservatives railed against his push to have the government play a role when it came to regulating the healthcare system.
When comparing Bidens first term, to Obama’s two terms, Obama’s regulation cost seems more moderate. AAF says the cost of the Obama era regulations was just around $300 billion over 8 years.
But AAF says the Trump administration regulatory cost were only around $30 billion.
“It is simply a jaw-dropping regulatory record. But perhaps even more stunning is the radio silence it is receiving from the media. Regulations are taxes in another form. If President Biden had imposed $1.3 trillion in taxes by executive fiat, the media would be aflame,” said Douglas Holtz-Eakin.
Eakin says the Biden climate agenda is driving this regulatory tsunami.
