GOP presidential nominee Donald Trump announced on Thursday that as much as up to 70 percent of current, job-killing federal regulations could potentially be eliminated were he elected president in November.
“We are cutting the regulation at a tremendous clip,” he told a crowd of supporters at a town hall event in New Hampshire, according to Reuters. “I would say 70 percent of regulations can go. It’s just stopping businesses from growing.”
Speaking with Reuters earlier in the day, campaign adviser Anthony Scaramucci claimed that Trump planned to eliminate 10 percent of regulations. No explanation for the discrepancy was provided.
Either way, the type of regulations the GOP candidate hoped to dispose of were those that solved nothing but created problems by hindering economic growth and impeding the flow of capital. He was particularly interested in going after energy industry regulations.
Incidentally, Trump’s proposals for the energy industry aligned perfectly with the Republican Party platform for 2016, which according to The Daily Caller recommended that the Environmental Protection Agency in its current form be eliminated.
“We propose to shift responsibility for environmental regulation from the federal bureaucracy to the states and to transform the EPA into an independent bipartisan commission … with structural safeguards against politicized science,” the platform read.
Another one of Trump’s concerns were the litany of regulations tied to Wall Street, including the Glass-Steagall Act, the Dodd-Frank bill and the Volcker rule.
“Wall Street is not the devil,” Scaramucci maintained. “In fact we are at our best when (there) is harmony between Main Street and Wall Street, and we hope to restore that.”
What the successful businessman essentially wanted to do was undo the regulatory nightmare that had been enacted by the Obama administration. And he wanted to do to not only to “Make America Great Again,” but to “Make America Wealthy Again” as well.
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