President Trump said Thursday that he plans to scale back the scope of federal regulations to the level it stood in 1960, saying that the "never-ending" red tape of regulation in America needs to be cut.
Since Trump took office, his administration has cut 67 regulations and proposed just three new rules. The cuts have eliminated $570 million a year in regulatory costs.
The administration also canceled or delayed more than 1,500 planned regulatory actions in Trump's first 11 months, including the highly anticipated proposed Mega Gas Rule, or formerly called the Safety of Gas Transmission and Gathering Pipelines.
The Mega Gas Rule was first scheduled to be published to the Federal Register in December but was halted when Trump took office. PHMSA states that the goal of this proposed rule is to “increase the level of safety associated with the transportation of gas by proposing requirements to address the causes of recent incidents with significant consequences” and to “clarify and enhance some existing requirements.”
Amit Narang, a regulatory policy advocate at Public Citizen's Congress Watch division, said Trump's deregulation agenda may help the corporate world but will make the public pay.