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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Trump’s Order Cuts Regulations on Businesses

One of the orders made by President Donald Trump on Monday was aimed toward regulations on businesses. The president’s new order stated that business can get rid of two regulations for every new one that is established.

Behind his desk in the Oval Office Trump, signed the document and called it “a big one.” Even though many of the business owners were present for the signing, the White House added to the order and stated that new regulations should be offset by getting rid of regulations that have the same cost. The military, however, was excluded in these regulations.

Yet based on the president’s comments, however, it was a bit hard to judge what type of impact this order will have. Trump on the other hands appeared optimistic about what the new order would mean. He said in a comment,

“This will be the largest ever cut by far in terms of regulations. If you have a regulation you want number one we’re not going to approve it because it’s already been approved probably in 17 different forms. But if we do the only way you have a chance is we have to knock out two regulations for every new regulation. So if there’s a new regulation they have to knock out two. But it goes way beyond that.”

Despite the president’s confidence in his new regulation, experts on government policy like William Gale, say, “There’s no logic to this. The number of regulations is not the key. It’s how onerous regulations are. This seems like a totally nonsensical constraint to me.”

Trumps believes that this order will benefit both small and large business. Small businesses aren’t able to bring on the personnel that larger businesses do. Trump also noted that the order is specifically aimed at eliminating regulations toward smaller businesses.

Like many of his other promises he says this is one of the “biggest such act that our country has ever seen.”


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