Reducing Red Tape

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Regulation is a tricky topic in government – what is too much and which regulations are a good idea. The president signed an executive order cutting business regulations and placing a cap on the new rules from each government agency.

Some described this as the rollback of financial regulations that began after the 2008 financial crisis in the Dodd-Frank Wall Street Reform, which restricts banks in specific risky investments. According to the White House press office, regulations from the previous administration cost American taxpayers $873 billion.

The executive order requires each government agency to establish a regulatory reform task force to repeal unnecessary regulations. The order also included a resolution to eliminate regulations for the coal and mining industries. How do you feel about the executive order? Do you agree that it will promote job growth and expand the economy? Are you concerned with the potential loss of environmental protections?

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