Trump demands the elimination of ten more regulations for every new regulation

During his first term, Trump pushed the idea that for every new regulation created, two new regulations would have to be eliminated. This week, Trump increased the number to ten regulations eliminated for every new regulation.

“I am proud to be the only president in modern history to achieve a net reduction in regulation during his administration, and it was a significant reduction,” Trump said Thursday during a speech to the Economic Club of New York.

“I promise today that in my second term, for every new regulation we put in place, we will repeal at least ten old regulations,” Trump told the crowd. “We'll actually be able to do that quite easily.”

Trump criticized the expansion of regulation pushed by President Joe Biden and linked it to Vice President Kamala Harris, who is running against Trump in the presidential election in November after Biden dropped out of the race due to low approval ratings and age concerns.

Republicans have promised to significantly reduce the size of the administrative state, a term used to describe the executive branch agencies that can enact and enforce laws without much input or direction from Congress.

The Biden administration has also sought to increase regulation of the cryptocurrency industry, something Trump recently welcomed and encouraged.

“Instead of attacking the industries of the future, we will embrace them, including by making America the world capital for cryptocurrency and bitcoin,” Trump said.

Republicans accused federal agencies of using the legislative process to circumvent Congress's legislative power and reshape laws to conform to the liberal priorities of the left and not gain congressional approval.

The Biden-era rule-making rollback would have many facets.

Trump would single-handedly attempt to revise, renew, and repeal Biden-era laws through executive orders, while Congress and Trump would work together to repeal laws passed during Biden's final year in office using the Congressional Review Act, a tool that allows for expedited votes to repeal recently enacted regulations.

In addition, Republican lawmakers would pass legislation to overhaul Biden's rules – and reform the rulemaking and approval process itself.

One plan, for example, calls for passage of the REINS Act, which would require Congress to approve any new “major rule” proposed by federal agencies before it takes effect.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

Also on Thursday, Trump proposed the establishment of a commission to improve government efficiency. This suggestion was made by Tesla founder Elon Musk in a conversation with the former president earlier this year.

Trump said the commission would conduct “a comprehensive financial and performance audit of the entire federal government” and make recommendations for “drastic reforms” of the system.