the WHITE HOUSEPresident Donald J. Trump

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The White House
Office of the Press Secretary
For Immediate Release

President Trump: Cutting Red Tape for American Businesses

GETTING GOVERNMENT OUT OF THE WAY: Today, President Donald J. Trump signed legislation (House Joint Resolution 41) eliminating a costly regulation that threatened to put domestic extraction companies and their employees at an unfair disadvantage.

  • H.J. Res. 41 blocks a misguided regulation from burdening American extraction companies.
    • By halting this regulation, the President has removed a costly impediment to American extraction companies helping their workers succeed.
    • This legislation could save American businesses as much as $600 million annually in regulatory compliance costs and spare them 200,000 hours of paperwork.
    • The regulation created an unfair advantage for foreign-owned extraction companies.

BUILDING ON PRESIDENTIAL ACTION: President Trump has been steadfast in his commitment to reducing the regulatory burden on everyday Americans, their pocketbooks, and their businesses.

  • President Trump has required that for every new Federal regulation, two existing regulations be eliminated.
  • President Trump will initiate fundamental changes to the United States healthcare system to reduce the financial burden on Americans by getting the government out of the way.
  • President Trump has placed a moratorium on all new regulations by executive departments and agencies that are not compelled by Congress or public safety.
  • President Trump directed his Secretary of Commerce to streamline Federal permitting processes for domestic manufacturing and to reduce regulatory burdens on domestic manufacturers.
  • President Trump signed an Executive Order expediting the environmental review and approval processes for domestic infrastructure projects.
  • President Trump directed the Secretary of the Treasury to conduct a full review of Dodd-Frank to ensure associated, burdensome regulations receive proper scrutiny.
  • President Trump ordered re-examination of the Department of Labor’s fiduciary rule, to make certain that it does not harm Americans as they save for retirement.