Streamlining regulations could save billions of dollars for companies over the next several years

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President's Remarks
Now, one of the things that my administration has talked about is, is there, in fact, a bunch of — a tangle of regulations out there that are preventing businesses from growing and expanding as quickly as they should. Keep in mind that the business community is always complaining about regulations. When unemployment is at 3 percent and they’re making record profits, they’re going to still complain about regulations because, frankly, they want to be able to do whatever they think is going to maximize their profits.

I’ve got an obligation to make sure that we’re upholding smart regulations that protect our air and protect our water and protect our food. If you’re flying on a plane, you want to make sure that there are some regulations in place to assure safety in air travel, right? So there are some core regulations that we’ve got to maintain.

But what I have done — and this is unprecedented, by the way, no administration has done this before — is I’ve said to each agency, don’t just look at current regulations — or don’t just look at future regulations, regulations that we’re proposing, let’s go backwards and look at regulations that are already on the books, and if they don’t make sense, let’s get rid of them. And we are in the process of doing that, and we’ve already identified changes that could potentially save billions of dollars for companies over the next several years.
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