(CNSNews.com) – In a speech to the Detroit Economic Club Monday, GOP presidential nominee Donald Trump promised to issue a temporary moratorium on new agency regulations upon taking office, to “cancel all illegal and over-reaching executive orders” and to eliminate all unnecessary regulations that don’t improve public safety and kill jobs.
“Upon taking office, I will issue a temporary moratorium on new agency regulations,” Trump said, noting that his running mate Indiana Gov. Mike Pence issued a similar order. “This will give our American companies the certainty they need to re-invest in our community, get cash off of the sidelines, start hiring new jobs, and expanding their businesses.”
“I will also immediately cancel all illegal and over-reaching executive orders. Next, I will ask each and every federal agency to prepare a list of all of the regulations they imposed on Americans which are not necessary, do not improve public safety, and which needlessly kill many, many jobs. Those regulations will be eliminated quickly,” Trump said.
Trump noted that the U.S. economy is smaller today that it would have been without “the surge of regulations” issued since 1980.
“Motor vehicle manufacturing is one of the most heavily regulated industries in the country, and even in the world,” he said. “The U.S. economy today is 25 percent smaller than it would have been without the surge of regulations since 1980. It is estimated that current over-regulation is costing our economy as much as $2 trillion a year. That’s money taken straight out of cities like Detroit.
“The Federal Register is now over 80,000 pages long. As the Wall Street Journal noted, President Obama has issued close to 400 new major regulations since taking office – each with a cost to the American economy of $100 million or more,” Trump said.
“In his first seven years, Mr. Obama issued 392 regulations deemed ‘major,’ meaning each carries an expected economic effect exceeding $100 million annually,” the Wall Street Journal reported in an April 7, 2016 article.
“In 2015 alone, the Obama administration unilaterally issued more than 2,000 new regulations each a hidden tax on American consumers and a massive lead weight on the American economy. It is time to remove the anchor dragging us down, and that’s what it’s doing – it’s dragging us down,” Trump said.
The Hill reported on Dec. 30, 2015 that “2015 was a record-setting year for the Federal Register, according to numbers the Competitive Enterprise Institute in Washington, D.C., released Wednesday.”
According to the article, CEI’s vice president for policy, Clyde Wayne Crews, said there were “3,378 final rules and regulations among the pages of the Federal Register” in 2015. Crews said “another 2,334 proposed rules were issued in 2015” and were at “various stages of consideration.”