Welcome to FreedomWorks Foundation’s sixth regulatory review! Our Regulatory Action Center proudly updates you with our favorite tidbits from the swamp. We want to smash barriers between bureaucracy and the American people by delivering regulatory news straight to FreedomWorks activists. Check back in two Fridays for the next edition.
Here are our highlights for this week:
1) Video of the Week: CNBC explains how 5G internet deployment works and what it means for consumers. In short, it will change the world. That’s why FreedomWorks and its allies support FCC Commissioner Ajit Pai’s plans for fast 5G deployment.
2) Statistic of the Week: Manufacturer confidence reached a 20 year high under President Trump’s pro-growth agenda. Over 93 percent of surveyed manufacturers had a positive outlook for their business.
3) Larry Kudlow says don’t believe the CBO! White House Economic Advisor Larry Kudlow says the CBO often falls short on its predictions. Specifically, he railed against the assertion that President Trump’s tax cuts will raise the deficit by $1 trillion. While tax cuts will likely increase the deficit, the CBO has often underestimated economic growth springing from tax cuts. For example, their recent deficit for this year overestimated by $400 billion, likely generated by unaccounted growth and investment.
4) Pruitt and Mulvaney are a swamp-draining duo for the ages. Ken Blackwell highlights regulatory achievements made by EPA Administrator Scott Pruitt and Office of Management and Budget Director Mick Mulvaney. Both have eviscerated harmful regulations. Pruitt tossed more than 30 job-killing Obama regulations and Mulvaney clawed back Elizabeth Warren’s predatory brainchild Consumer Financial “Protection” Bureau.
5) Fed’s Regulatory Czar says banks needs more deregulation. The Senate recently passed a bill relaxing bank restrictions in the famous “Dodd Frank” law, but a Trump Fed appointee has additional ideas. Randal Quarles wants the Fed to conduct further deregulation on local branch banks through its own rulemaking process. Specifically, he wants to relax liquidation rules and mandatory annual reports.
6) Trump tells Pruitt to relax air quality rules on manufacturers. President Trump directed EPA Administrator Scott Pruitt to update its National Ambient Air Quality Standards. One proposed change would expedite approval for state-submitted air quality plans that impact industry construction to one year wait times. It would also reassess and possibly relax standards on some pollutants seen as prohibiting new manufacturing and infrastructure projects.
7) Ajit Pai’s FCC won’t probe Sinclair News. FCC Commissioner Ajit Pai declined to probe Sinclair News over alleged “distortions” in coverage. Basically, Commissioner Pai recognized that the First Amendment also applies to news sources disliked by Democrats.