by Fred Lucas The Trump administration deregulation efforts will raise incomes by about $3,100 per household over the next five to 10 years, and sharply reduce prices for consumers, according to a report released Friday by the White House Council of Economic Advisers. “The deregulatory efforts of the Trump administration have also removed mandates from employers, especially smaller businesses, and have removed burdens that would have eliminated many small bank lenders from the marketplace,” Casey Mulligan, the chief economist for the Council of Economic Advisers, told reporters Friday. “These deregulatory actions are raising real incomes by increasing competition, productivity, and wages.” The Council of Economic Advisers report is titled “The Economic Effects of Federal Deregulation Since January 2017: An Interim Report.” The report takes a sampling of 20 major deregulatory efforts, which it projects alone will save consumers and businesses about $220 billion annually, and increase after-inflation incomes by 1.3%. “Many of the most notable deregulatory efforts in American history, such as the deregulation of airlines and trucking that began during the Carter administration, did not have such large aggregate effects,” the Council of Economic Advisers report says. The aggressive deregulation also cuts consumer prices for prescription drugs, health…
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