Donald Trump, U.S. Republican presidential nominee, says, “We are cutting the regulation at a tremendous clip. I would say 70 percent of regulations can go.” The comments were given at a town hall speech in New Hampshire on Thursday just hours after his advisor stated that the campaign was looking to cut 10 percent of regulations.
The billionaire businessman stated that regulations were stopping business growth.
Reuters reported that Anthony Scaramucci, a Trump campaign advisor, stated that “every agency will be asked to rate the importance of their regulations and we will push to remove 10 percent of the least important.”
Trump wants to help spur economic growth through streamlining regulations. Trump has taken aim at the energy industry, which has worked to reduce carbon emissions and offset global warming.
Scaramucci talked at lengths with Reuters, stating that Trump would reform Dodd-Frank, review legislation similar to the Glass-Steagall Act, and adjust the Volcker rule. The rule was put in place to reduce risk-taking of banks.
Trump has repeatedly called out Fed Chair Janet Yellen for not raising interest rates sooner. Yellen has not raised rates at the expected rate in 2016, as economic uncertainty arose due to Brexit and economic data. He has stated that Yellen doesn’t want to raise rates before Obama’s exit due to the economic shock it will cause.