President Donald Trump issued late Tuesday an executive order on regulatory relief, calling on federal regulators like the Securities and Exchange Commission to curb, for instance, enforcement measures and to review regulations that may inhibit economic recovery.
In releasing the order, Trump said that “just as we continue to battle COVID-19 itself, so too must we now join together to overcome the effects the virus has had on our economy. “
Many businesses and nonprofits, he said, “have been forced to close or lay off workers, and in the last 8 weeks, the nation has seen more than 36 million new unemployment insurance claims.”
Trump has privately expressed opposition to extending a weekly $600 boost in unemployment insurance, according to The Washington Post.
The executive order states that agencies should “address this emergency” by rescinding, modifying, waiving or providing exemptions from regulations and other requirements that may “inhibit economic recovery, consistent with applicable law and with protection of the public health and safety, with national and homeland security, and with budgetary priorities and operational feasibility.”