President Trump has signed an executive order that directs agencies to cut regulations possibly hindering economic growth. He made the official announcement at a White House cabinet meeting.
Specifically, the president is ordering agency heads to rescind, modify or provide exemptions from regulations "that may inhibit economic recovery." This is another effort to address the nation's financial downfall as over 35-million Americans have filed for unemployment since the start of the pandemic.
President Trump told members of his cabinet that the order will give them "great authority" to slash regulations. “We’ve done more regulation cutting — I don’t mean just in a year or two years,” he noted. “I mean in the three and a half years that we’ve been here, we’ve cut far more regulations by a factor of a lot than any other administration, any other presidency. So that’s really something.”
Source: White House