President Donald Trump and Congress have saved an additional $60 billion in regulatory costs by rolling back Obama administration rules, according to a new report.
The American Action Forum, a center-right policy institute, released a report Tuesday documenting the most recent ways the administration and Congress have used the Congressional Review Act to repeal regulations.
The report found the recent repeal and delay of regulations could lead to $86 billion in net fiscal effects for taxpayers from deregulation.
“Congress has already passed 13 CRA resolutions, repealing more than $1.1 billion (annually) in past regulations from the Obama Administration,” the report, written by Sam Batkins, director of regulatory policy for AAF, said. “In addition, President Trump has formally delayed and signaled an intention to amend several other major rules. Combined, these actions could generate more than $18 billion in annual regulatory savings for businesses, investors, and consumers.”
Reversing the Obama administration’s “Waters of the United States” rule, the sweeping Environmental Protection Agency move that would have subjected lakes and ponds to federal government regulation, could produce $16 million in taxpayer savings alone.
Rolling back just five regulations could save taxpayers billions. The report examined spending implications of regulations repealed through the Congressional Review Act and those delayed formally by the administration.