Report: Biden on Day 1 scrapped Trump rule that helped US save $160 billion

National News

US President Joe Biden speaks about the American Rescue Plan and the Paycheck Protection Program (PPP) for small businesses in response to coronavirus, in the Eisenhower Executive Office Building in Washington, DC, February 22, 2021. – The Paycheck Protection Program (PPP) has been a key lifeline to businesses amid the Covid-19 crisis, but the smallest among them, those least likely to have relationships with banks, often missed out. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)

(WTRF)- According to a report and analysis by the American Action Forum (AAF) President Joe Biden scrapped a Donald Trump deregulation rule that had helped save the U.S. about $160 billion.

The group’s findings were reported Thursday by the Washington Times.

“I wager in saying that, going back in the modern era of presidents, even back through Reagan, this is probably the most deregulatory administration we’ve seen in terms of being able to quantify the economic savings that it produced,” AAF report author Dan Bosch, the group’s director of regulatory policy, told the Times.

Trump’s actions saved the country $155 billion to $165 billion between 2017 and 2021, the AAF estimates, according to the Times.

The Times noted that Trump’s Office of Management and Budget pegged the savings at an even higher amount: closer to $200 billion between 2017 and 2020, with $144 billion saved in 2020 alone.

You can read the full Times story here

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