The positive effects of Donald Trump’s presidency have already been felt by many Americans. Between Trump and the Republican Congress, Americans are feeling relief in their wallets only mere weeks into Trump’s first term. The savings might surprise you — and it should certainly shock all of his haters.
On regulations, Trump and Congress are off to a great start. It was a promise made by Trump and fellow Republicans during his campaign for the White House, and now, with a unified Republican Federal Government, both Trump and Congress have moved quickly to get rid of regulations put in place by the Obama administration.
Many of these regulations were strangling the American economy while producing almost no benefits. The result has been some much needed financial relief for the everyday American worker.
“The American Action Forum has compiled a list of regulations that have been wiped out, either through executive order or by congressional action. So far, Republicans have saved Americans $2.8 billion in compliance costs and over 41 million hours in paperwork,” Rare reports.
Yes, you read that right. So far, in less than a month, Trump has saved Americans almost $3 billion! This is part of the reason the economy hasn’t taken a hit the way that Democrats wished it would after Trump’s election. Trump is simply allowing for a more free market, which will continue to boost the economy over time. This is in contrast to the Obama administration, which strangled the economy by imposing more regulations than any other president in history.
The repeal of a coal mining rule and blocking of “gas order number 1” will also lower the cost of energy, which will help American consumers and businesses, especially in the long term. In addition, eliminating these regulations will create more of the high-paying jobs that are common in the energy industry and imperative to a strong and healthy economy.
Not only has President Trump gotten rid of the most ineffective and burdensome regulations, he’s also instated a new rule. Trump has mandated that for every regulation imposed by his administration, two must be repealed. This mandate will save businesses time and money and result in lower prices for consumers in the long run.
If you think your wallet is happy now, just wait until this time next year. By then, Trump will have had an opportunity to take a crack at the burdensome tax code, and it may provide you with even more relief and more of your hard-earned money being able to stay where it belongs — in your pocket.
After being over taxed and over regulated, small business and regular middle-class Americans are now breathing easier, with some financial relief, thanks to President Trump. Let’s see how much more of our money he can give back to us in the next four years.