President Trump’s approach to federal regulations will raise real incomes annually by $3,100 per household after five to 10 years, the White House Council of Economic Advisers (CEA) estimated in a report released Friday.
“Deregulation is the cornerstone of the president’s pro-growth economic policies,” Tomas Philipson, a CEA member, said on a call with reporters.
The Trump administration has rolled back regulations issued by previous administrations and has also introduced new regulations at a slower rate than past administrations.
CEA focused much of its report on 20 of the administration’s deregulatory actions, which it said will save consumers and businesses about $220 billion per year once they fully take effect.
The council said that the Trump administration’s actions will have a bigger impact than the deregulation of the trucking and airline industries started under former President Jimmy Carter’s administration.