President Donald Trump is keeping a campaign promise to cut back on new regulations, reducing them to "historic" levels that have dropped to slightly over 10 percent when compared to previous administrations, The Washington Times reported Tuesday.
A report released on Tuesday by the American Action Forum stated that through May 23, Trump's Cabinet agencies finalized only $33 million in costs associated with new regulations. That compares to an average of $26 billion for the same period for administrations since 2005, or 0.12 percent.
As for volume, the number of new regulations the Trump administration has issued is a mere 8 percent of the average of those by former Presidents Barack Obama, George W. Bush and Bill Clinton, according to Sam Batkins, director of regulatory policy for the group releasing the data.
"By virtually any measure, dating back through two Democratic presidents and one Republican president, the lack of regulatory output is historic," wrote Batkins in a blog post Tuesday.
The study found a "notable uptick" in the number of measures from the Obama administration no longer being considered. Compared to the same time period during the Obama administration, Trump agencies had only reviewed 39 rules, compared to 190 of his predecessor.
On Trump's first day in office he issued an executive order known as the "one-in two-out" rule to reduce regulations and control regulatory costs.
Batkins noted that court rulings can affect the number of new regulations by any administration and that the position of director for the White House Office of Information and Regulatory Affairs had yet to be filled.
© 2021 Newsmax. All rights reserved.