President Donald Trump's executive order slashing regulations could lead to $0 in regulatory costs in fiscal year 2017, according to the American Action Forum.
By comparison, President Barack Obama levied $164 billion worth of regulatory costs during his final year in office alone.
"The administration need only be as restrained as the Bush Administration was in 2006 to accomplish the goal of no net costs," the AAF wrote in its report. "With the regulatory freeze still mostly in effect, the days of $164 billion in regulatory costs could come quickly to an end."
Trump's executive order on Jan. 30 established a "one-in, two-out" system for regulations.
"This regulatory regime requires that for each new regulation put forward, agencies must find at least two to repeal, with an eye toward bringing net regulatory costs to $0 for the fiscal year," AAF wrote.
© 2021 Newsmax. All rights reserved.