President Trump on Deregulation CSPAN December 14, 2017 6:13pm-6:29pm EST
number of networks i see represented here that has repeatedly stated that a lot of the statistics a lot of the data shows this will be a huge boost to the economy, will bring companies back, will grow our jobs, push think stock market higher, i think that those are all places i would point back to and certainly i think there's great support that we have seen just based on the idea that this passes that you're seeing the stock market increase and i think a lot of that is tied to that. reporter: the word modest was used? sarah: upset is maybe not the right word. he may think the other opinions offered are more accurate. i know the president -- hold on a second. i know the call time is here momentarily and the president will be speaking in a few minutes. i want to say thanks have a good week and april i'm looking forward to having some pie with you momentarily.
>> at the white house today president trump announced his administration has exceeded its deregulation goal set this year. he discussed the economic growth that's occurred as a result of he de-regulation and at the end of the event expressed confidence that senator marco rubio of florida would vote in favor of the tax reform legislation. despite reports that the senator intends to oppose it unless the child tax credit is expanded. this is 15 minutes. president hello, everybody. regulations. a lot of regulations. thank you, vice president pence, secretary chao, secretary sinn key and chris liddell. we are here today for one single reason. to cut the red tape of
regulation. for many decades an ever-growing maze of regulations, rule, restrictions has cost our country trillions and trillions of dollars, millions of jobs, countless american factories, and devastated many industries. but all that has changed the day i took the oath of office and it's changed rapidly. you've seen what's happened. we've begun the most far-reaching regulatory reform in american history. we've approved long-stalled projects like the keystone x.l. and dakota access pipelines. we're cutting years of wasted time and money out of the permitting process for vital infrastructure projects. we're scraping and really doing a job in getting rid of the job-killing regulations that threatened our autoworkers and have devastated their jobs over the years, but they're all
moving back. they're moving back into our country. those companies are
coming back and they're coming back fast. we're lift regular strixes on american energy. and we've ended the war on coal, we have clean coal, beautiful clean coal. another source of energy. one of the very first actions of my administration was to impose a two-for-one rule on new federal regulations. we ordered that for every one new regulation, two old limb nated. must be e the people in the media heard me say that during the campaign, many, many times. as a result, the never-ending growth of red tape in america has come to a sudden, screeching, and beautiful halt. earlier this year, we set a target of adding zero new regulatory costs onto the american economy. today i'm proud to announce that we beat our goal by a lot. instead of adding costs, as so
many others have done and other countries are doing in many cases, and it's hurting them, for the first time in decades, we achieved regulatory savings. hasn't happened in many decades. we blew our target out of the water. within our first 11 months, we canceled or delayed over 1,500 planned regulatory actions, more than any previous president by far. and you see the results when you look at the stock market, when you look at the results of companies and when you see companies coming back into our country. and instead of eliminating two old regulations, for every one new regulation, we have eliminated 22, 22, that's a big difference. we aimed for two for one and in 2017, we hit 22 for one.
and by the way, those regulations that are in place, do the job better than all of the other regulations and they allow us to build and create jobs and do what we have to do. we are now reducing the size, scope, and cost of federal regulations for the first time in decades and we are already seeing the incredible results. because of our regulatory and other reforms, the stock market is soaring to new record levels, 85, not including today, hopefully we'll set another one today, 85 since election day. creating $5 trillion of new wealth and the $5 trillion was as of about three weeks ago. i assume we've probably hit $6 trillion. almost. unemployment is at a 17-year low. wages are rising. economic growth has topped 3%. two quarters in a row now we've
had that and except for the hurricanes we would have almost hit 4% and you remember how bad we were doing when i first took over. thraves big difference. we were going down. this country was going economically down. small business optimism is at its highest point in 34 years. and we are just getting started. we have decades of excess regulation to remove to help launch the next phase of growth, prosperity, and freedom. i am challenging my cabinet to find and remove every single outdated, unlawful, and excessive regulation currently on the books. i want every cabinet secretary, agency head, and federal worker to push even harder to cut even more regulations in 2018. that should just about do it. i don't know if we'll have any left to cut. but we'll always find them. we must liberate our economy
from years of federal overreach and intrusion. so that we can compete and win when the world -- on the world stage. when you look at the stock market and what's happening, such a high level, has a long way to go, much of that is because of what we've done with regulation. for example the current process for permitting infrastructure is unacceptable -- unacceptably long. this chart, i love this chart, i showed this chart two months ago, chris, wriss liddell, hold that up, chris. he's not tall enough for this chart, neither is anybody else. this is the process you had to go through to get permits for a highway. or a road way you had to go through this process and it would take many years. many, many years. right, chris?
and you had to go through nine different agencies, make 16 different decisions, under 29 different laws. it would take from 10 to 20 years, in some cases longer than that. by the time you finished, you probably gave up. and i think it's -- i held this chart up three months ago and i said bring out that chart. that was a last minute decision. but it really explains what a disaster it is. we want to take that process down to maybe one year. we have it down to two. we maybe bring it down to one year. if the highway or road is not good, we're going to reject it. we're not going to approve everything. we're going to reject it. but for the most part, generally speaking, it's a good thing, not a bad thing. cutting through this maze is critical to restoring our nation's competitiveness. that is why under my administration, a highway that would have taken -- we're looking at the numbers, trying to average them out, and people
have no idea, they think the number is in many cases over 20 years. and we're bringing that way down. besides this, you can see another really vivid illustration of the monumental task we face. in 1960, there were approximately 20,000 pages in the code of federal regulations. today there are over 185,000 pages. so you take a look at that, and i assume that this is today, this is 1960, we're going to cut a ribbon. we're get back below the 1960 level and we'll be there fairly quickly. we know that some of the rules contained in these pages have been beneficial to our nation. we're going to keep them. we want to protect our workers, our safety, our health. we want to protect our water. we want to protect our air and our country's natural beauty.
but every unnecessary page in these stacks represents hidden tax and harmful burdens to american workers and american businesses. and in many cases, means projects never get off the ground. that's probably the biggest problem. according to a survey by the national small business association, the average small business today spends $83,000 to comply with a single regulation in just its first year of existence. small business manufacturers also bear an enormous ongoing burden, spending an average of nearly $35,000 per employee each year. incredible. this excessive regulation does not just threaten our economy, it threatens our entire constitutional system. and it does nothing other than delay and cost much more. it does nothing. congress has abandoned much of its responsibility to legislate and has instead given unelected
regulatory -- regulators extraordinary power to control the lives of others. the courts have let this massive power grab go almost completely unchecked and have almost always ruled in favor of big government. with billions and billions of dollars wasted. regulation is a stealth taxation. so many of these enormous regulatory burdens were imposed on our citizens with no vote, no debate, and no accountability. now there is accountability. by ending excessive regulation, we are defending democracy and draining the swamp. truly, we are training the swamp. unchecked regulation undermines our freedoms. and saps our national spirit. destroy ours company. we have so many companies that are destroyed by regulation. and destroys obvious jobs. today's call to action is about
regaining our independence, reclaiming our heritage and rediscovering what we can achieve when our citizens are free to follow their hearts and chase their dreams. when americans are free to thrive, innovate and prosper, there's no challenge too great, no task too large, and no goal beyond our reach. we are a nation of explorers and pioneers and innovators and inventors and regulations have been hurting that and hurting it badly. we are a nation of people who work hard, dream big, and who never, ever give up. we are americans. and the future belongs to us. so together, let's cut the red tape. let's set free our dreams and yes, let's make america great again. one of the ways we're going to do that is by getting rid of a lot of unnecessary regulation. thank you very much. thank you. [applause]
come over here, chris. come on over here. hy don't we all gather around. you can be part of -- i think we can all make it. come on. so this is what we have now. this is where we were in 1960. when we're finished, which won't be in too long a period of time, we will be less than where we were in 1960 and we'll have a great regulatory climate. come on up here. elaine, are you ok? come on. you ok? she has a lot to do with it. one, two, three. [applause]
i think maybe we should go to chris. come on, get up here. [applause] he's been a great guy, very supportive, i think senator rubio will be there. we're doing well on the tax front. we have tremendous support. we have tremendous help, it will be the largest tax cut in our country and the senators, congressmen and women have been incredible. i think we'll get there, it will be in a short period of time. it will be the greatest
christmas present a lot of people have ever received. it will be something special. i like omarosa. she's a good person. thank you all for coming. [applause] >> c-span, where history unfolds daily. in 1979, c-span was created as a public service by america's cable television companies. and is brought to you today by your cable or satellite rovider. >> russian president vladimir putin answered several rounds of questions on domestic and international affairs during his annual year-end news conference in moscow this portion included responses to quest a