The Trump administration’s deregulatory push has resulted in about $50 billion in savings since 2017, with $13.5 billion of those coming in fiscal 2019 alone, the White House said Dec. 6. The administration fell shy of its goal of eliminating two significant deregulatory actions for every one significant regulatory action, instead achieving a 1.7:1 ratio.
Using another measure, the administration said it issued 150 deregulatory actions and 35 significant regulatory actions in fiscal 2019, a 4.3:1 ratio. The biggest savings, according to the report, were at the Department of Health and Human Services with $11.4 billion.
The Agriculture Department’s 13 deregulatory actions accounted for $2.1 billion in savings, but the report did not break down those savings by specific deregulatory actions. USDA estimated the National Bioengineered Food Disclosure Standard, published in December 2018, would save $77 million annually.
“In comparison to a state-level approach to mandatory [bioengineered] labeling, the [rule] would impose less cost on the regulated community and would therefore be deregulatory,” USDA said in the rule.
The Environmental Protection Agency’s regulations imposed about $8.3 billion in costs, however, the largest figure of any in the administration.
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