As a new era dawns in Washington, D.C., the focus intensifies on President-elect Donald Trump’s plans to dismantle the regulatory framework established during the Obama and Biden administrations. The legacy of bureaucratic overreach and its staggering financial burden have set the stage for a significant policy shift aimed at liberating American enterprise and innovation.
The American Action Forum has shed light on the enormous economic cost of President Biden’s regulatory agenda, which has amounted to a staggering $1.8 trillion. This stands in stark contrast to the comparatively modest $1.2 billion imposed during President Trump’s tenure and even undercuts former President Barack Obama’s less restrictive $500 billion regulatory load. These figures lay bare the extent to which regulatory expansion has escalated, threatening the vitality of the free market and imposing a heavy toll on taxpayers.
Dan Goldbeck, the director of regulatory policy at American Action Forum, highlights the enormity of this issue, noting the administration’s intent to push through additional regulations before President-elect Trump steps into office. As it stands, Biden’s Federal Register entries are second only to Obama, with a total poised to surpass previous records. Two months remain in the current administration, and a flood of new regulations seems inevitable, unless decisive action is taken.
This situation has precipitated calls from lawmakers to employ the Congressional Review Act (CRA) as a means to counter these sweeping regulations. The CRA presents a formidable tool for Congress, enabling the reversal of problematic rules and preventing the reissuance of similar mandates. As Sean Cooksey of the Federal Election Commission underscores, each Biden-appointee should be wary of the CRA’s potential to negate any hurried, end-of-term rules.
Amid these challenges, President Trump has the opportunity to champion regulatory reform, a priority for those advocating for minimal government intervention and maximum individual liberty. By leveraging instruments like the CRA, a reinvigorated continuation of Trump’s deregulatory agenda can be expected. This approach not only seeks to unwind burdensome regulations but also aims to reinstate the principles of free enterprise and market-driven solutions.
As the Biden administration’s expansive regulatory ambitions come under scrutiny, it serves as a pivotal moment for American policymakers. The forthcoming Trump administration is poised to reassert a vision not merely focused on rolling back Biden’s policies but fundamentally changing the landscape to facilitate innovation and economic growth. The emphasis remains on empowering citizens through unprecedented deregulation and reining in the unchecked expansion of federal oversight, revitalizing the nation’s resilient spirit.
