Trump's rhetoric about slashing regulation could boost one Democratic argument: that the president has crafted his policy to help big business.
President Donald Trump is happy to boast that he slashes more regulations than any president who preceded him. He literally cut red tape in the White House in December 2017 while standing before stacks of paper representing rules.
The president has actually done more to slow the pace of new regulations, or ease enforcement of current rules, than cut them entirely, according to several experts who track regulation. But that has not stopped both Republicans and Democrats from acting like he has taken more drastic steps to slash government rules.
But experts believe a Democratic president would seek to reverse Trump's deregulatory actions or tighten rules in at least three areas: the environment, the financial industry and the technology sector. A second Trump term would give his administration more time to reverse old rules or implement its own, which can take years to do.
Democrats led by Warren have called to empower the Consumer Financial Protection Bureau, the watchdog and brainchild of the Massachusetts senator that the Trump administration has mostly defanged. Warren and Sen. Amy Klobuchar, D-Minn., among others, have called for new rules to make companies that handle sensitive consumer data more accountable to consumers. They have focused mostly on Equifax, the credit reporting agency that lost data on 140 million people in a cyberattack.
"They haven't had the benefit of the full monty yet," he told CNBC, in reference to tech companies facing a wave of new rules. He added that"if I were them, I'd be getting prepared for it." Trump has dramatically reduced the pace of new rules, although it is unclear whether he has actually cut more regulations than his predecessors. The pace of federal restrictions climbed by 0.73 percent during the president's first 15 months in the White House, according to a FactCheck.org assessment citing data from George Mason University's Mercatus Center. By December, only about 325 more restrictive rules were on the books than when Trump took office, the report said.
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