Critics of the president’s first few months in office point to Donald Trump’s failure to guide any major legislation through Congress as a symbol of his ineffectiveness. But that ignores a host of other important accomplishments.
In particular, USA Today reported Thursday that “U.S. small business are brimming with confidence” for the first time in a decade. That optimism is translating into more investment and hiring. “Thirty-four percent of those polled said they added at least one employee in the previous three months, compared with 22 percent in late 2015,” the paper found.
Credit Mr. Trump’s economic and regulatory agenda with the attitude adjustment. “For many small businesses, Trump’s election served as a booster shot for their confidence,” USA Today noted.
While his predecessor wrapped rolls and rolls of red tape around the nation’s entrepreneurial class, Mr. Trump has set records when it comes to repealing administrative mandates. So far, the president, with the help of Republicans in Congress, has nixed 13 major regulations imposed in the waning days of the Obama administration.
Prior to this year, the Congressional Review Act — which allows Congress to rescind certain regulatory edicts as long as the president approves — had been used only once since its enactment in 1997. Between use of the act and executive orders, the White House estimates it has saved $18 billion in regulatory costs. “To us, that’s a huge achievement,” an official told the Wall Street Journal.
While the rules Mr. Trump targeted didn’t directly affect most small businesses, the message was clear. “It’s been very promising,” Jack Mozloom, a spokesman for the National Federation of Independent Business, told the Journal.
Expect more job-friendly policies, particularly when it comes to taxes, as the administration gets it legs. And that will only further jump-start confidence among those in the private sector. “There’s a management team working now that’s talking about growth and tax changes,” an NFIB official told USA Today. “You don’t bet money on the future if the future looks dim.”
In his first 100 days in office, Mr. Trump has rejected the stifling regulatory policies imposed by Barack Obama on the nation’s job creators. And that’s a significant achievement in the push for increased prosperity and sustained economic growth.