Ricochet is the best place on the internet to discuss the issues of the day, either through commenting on posts or writing your own for our active and dynamic community in a fully moderated environment. In addition, the Ricochet Audio Network offers over 50 original podcasts with new episodes released every day.
Newly confirmed Commerce Secretary Wilbur Ross told CNBC’s “Squawk Box” that Trump’s economic advisors “are up to our eyeballs” looking for government regulations to be scrapped. From Politico:
Trump, who campaigned on an economic message of growth and job creation, has made reducing government regulation a priority in the opening weeks of his presidency. Just 10 days into his administration, the president signed an executive order mandating that for each new regulation put into effect, two others must be removed. And last week, Trump signed an order requiring federal agencies to create regulatory reform task forces.
Speaking on CNBC Friday morning, Ross said he would seek the input of business groups including the National Association of Manufacturers, the U.S. Chamber of Commerce, the National Federation of Small Businesses and others. He estimated that the Trump administration may ultimately save U.S. businesses “way into the tens of billions of dollars and very possibly approaching a hundred odd billions of dollars.”
“Many of these were put in by executive orders and by agency rules, and those wouldn’t require acts of Congress. So we are up to our eyeballs in trying to make sure we identify all the problems,” Ross said. “So it’s a lot to do there. I think that will be one of the most fruitful areas that the administration can attack quickly.”
Every person on the center right (and probably most business leaders on the left) have to be thrilled at Trump’s rollback of the regulatory state. Since Ross is taking suggestions from companies on what to streamline, what federal regulations would you cut?