Under U.S. President Donald Trump, major businesses have seen less new regulation and an increase in the deregulation of existing rules, according to a report by The Financial Times.
Trump passed less than half the number of economically significant rules than former President Barack Obama, and a quarter fewer than former President George W. Bush, over the same amount of time.
However, Trump has taken many existing rules and eliminated them. Some experts believe that Trump has a goal of getting rid of two rules for every new one he passes.
The deregulation, some say, is responsible for a recent uptick in stocks. Others say it doesn’t bode well for the future, and will cause America problems eventually.
Although the S&P 500 index has elevated about 9 percent, it’s dropped dramatically in the last three months.
Susan Dudley, a director at the Regulatory Studies Center at George Washington University, said, “The slow pace in new regulation is leading to the business confidence that we have seen in the U.S. Executives are no longer worried about what is coming next.”
Others say Trump’s administration is too loose in the way it handles the regulation of business.
Dennis Kelleher, chief executive of Better Markets, which advocates for stricter controls on the financial services industry, said Trump isn’t looking out for everyday Americans.
“The Trump administration ideologically views every regulation as a needless cost on corporations rather than essential protections for the health, wealth and well-being of all Americans,” he said. “The result is a more dangerous financial system, less clean air and water and reduced safety for American workers and consumers.”
In two years, Trump issued 54 regulations that had an impact of $100 million or more and were considered economically significant. The Obama administration issued 124, and the Bush administration issued 76.
Also, in terms of deregulation, Trump has moved to get rid of restrictions on gas companies from drilling in protected waters, and he’s also pulling back the Clean Water Act. Bank executives also say financial regulators are more lax, and more often want to talk about violations rather than immediately posting a fine.