Trump prepared to cut more regulations: Wilbur Ross
For every new regulation that has been added 8 have been cut
The Trump administration is prepared to cut more red tape to ensure government projects are completed faster and more efficiently.
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Quicker approval times would be critical as the administration has reportedly been weighing a $1 trillion infrastructure plan.
“What's been happening is with the massive federal regulations on top of state, everything was done sequentially,” Commerce Secretary Wilbur Ross told FOX Business’ Stuart Varney.
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“So they wouldn't start on this until a prior regulator had approved something else,” he added. “That's crazy.”
Trump announced on Wednesday that his administration is in the process of overhauling the 50-year old National Environmental Policy Act in an effort to increase the speed at which projects like new highways and pipelines can be completed.
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For every new regulation that has been implemented, Trump’s team has cut eight, Ross said, adding that the administration believes that by removing all of that red tape it has been able to reduce the amount of time needed to complete a project from 10 years down to two.
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“There's still more to go because it took a while to dig out all these regulations and figure out how to get them redone,” Ross said. “So there's a lot of room if we win again, as I believe we will."