As Donald Trump eyes another presidential term, he unveils an aggressive economic strategy focused on expedited regulatory approval for billion-dollar investments.
At a Glance
- Trump proposes expedited permits for investments of $1 billion or more.
- This strategy marks a continuation of his previous deregulatory policies.
- The plan contrasts sharply with President Biden’s regulatory-heavy approach.
- Trump aims to eliminate 10 regulations for each new one introduced.
Expedited Approvals for Major Investments
Donald Trump has announced a plan to incentivize substantial financial commitments to the U.S. economy by expediting regulatory approvals for investments of $1 billion or more. Announced via his Truth Social platform, Trump hailed the strategy, urging investors to “GET READY TO ROCK!!!”. This plan echoes the deregulatory policies of his first presidential term when he prioritized reducing federal oversight to boost economic growth.
The new strategy includes fast-tracking permits, especially environmental approvals, for significant investments. Trump’s framework seeks to create a favorable business environment by cutting through existing bureaucratic red tape. The approach aims to generate economic growth and job creation without the hindrances of prolonged regulatory processes.
President-elect Donald Trump said he will give fully expedited approvals and permits to any person or company investing $1 billion or more in the US https://t.co/VEoOvzN9Ql
— Bloomberg Markets (@markets) December 10, 2024
A Legacy of Deregulation
Trump’s proposed policy builds on his previous Executive Order 13771, which mandated eliminating two regulations for every new one introduced. He aims to extend this policy in a potential second term by proposing the elimination of ten regulations for each new one enacted. His initial term witnessed an aggressive push to scale back federal regulatory power to stimulate economic activity.
“Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals,” Trump wrote on Truth Social.
This approach distinctly contrasts with the regulatory landscape under President Biden, who has introduced a record number of federal regulations. In December, the Biden administration set a record for the most pages in the Federal Register for a single year, breaking the former record set by President Obama. Trump’s deregulatory push seeks to reverse this trend, promoting a capital-friendly environment.
Potential Impacts on the U.S. Economy
Trump’s plan aims to leverage deregulation to stimulate the economy by attracting large-scale investments. By reducing barriers encountered during the permit approval process, this could lead to increased productivity and economic development nationwide. Such policies may enhance key industries, bringing jobs and innovation to the forefront.
As debates about economic policy intensify, Trump’s proposition shows a keen focus on bolstering America’s economic standing. The proposal appeals to those favoring minimal government intervention in business. Trump has made clear that his presidency will bring in a significant shift from current regulatory frameworks under the Biden administration.
