US Republican presidential nominee Donald Trump said that as many as 70 percent of federal agency regulations could be eliminated if he is elected next month, just hours after an adviser said the candidate would seek to cut 10 percent.
Trump, who blamed regulations for stifling business, told a crowd at a town hall event in New Hampshire on Thursday night that regulations for the environment and safety would remain.
“We are cutting the regulation at a tremendous clip. I would say 70 percent of regulations can go,” Trump said. “It’s just stopping businesses from growing.”
Photo: AFP
Earlier in the day during an online discussion with reporters, campaign adviser Anthony Scaramucci, a Wall Street financier who has raised campaign money for Trump, said Trump would eliminate 10 percent of regulations.
“We need regulation, but immediately every agency will be asked to rate the importance of their regulations and we will push to remove 10 percent of the least important,” he said.
Another Trump campaign adviser confirmed the 10 percent regulatory cut was part of their economic plan.
Scaramucci also said that Trump, a fierce critic of the US Federal Reserve, would probably get along well with Fed Chair Janet Yellen.
Trump has repeatedly accused the Fed of serving as a political arm of the administration of US President Barack Obama.
He says Yellen has put off raising interest rates to let Obama end his term in January without the economic shock that a rise in interest rates might entail.
Scaramucci, a founder of SkyBridge Capital, said Trump would strive for a better balance in federal regulations.
Scaramucci was not as dismissive of Yellen as Trump is, saying he believes the New York property developer would warm to her eventually.
“There are many well-qualified candidates, but I think Mr Trump has to spend some time with Chairwoman Yellen. I think knowing what I know about his personality he will like her,” he said.
Trump would seek to streamline regulations as a way to generate economic growth and help the flow of capital, the adviser said.
Trump has specifically singled out the energy industry as an area that he would look at for reducing regulations.
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