t the first meeting of the Trump Leadership Council — an advisory group consisting of top CEOs from major companies — President Donald Trump asked these business leaders what was their biggest problem. I expected the answer to be America’s anti-growth tax system.
The CEOs almost all listed the federal tax code as an albatross, but not the heaviest one. But I was surprised to learn that most insisted he biggest restraint on growth is federal red tape and regulation. Manufacturers, energy firms, financial services, agriculture interests — across all industries — federal rules were seen as mindless, inefficient, costly and incomprehensible.
Mr. Trump is off to a speedy start in rolling back the rule making industry in Washington. He has signed an executive order which mandates that any agency wanting to implement a new business regulation must at the same time repeal two existing regs. This should reverse the tide of regulatory burdens.
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