In the wake of the failure of Governor Scott Walker’s campaign, and less than stellar polling numbers for Donald Trump, Jeb Bush is expected to pledge on September 22 that as president he would freeze new federal government regulations. A respected former governor of Florida, Bush has said that bureaucracy is threatening the U.S. economy. Bush is in Iowa and will appear at John Putney’s Farm in Gladbrook, Iowa, where he will address supporters and small-business owners. Bush is expected to say that his economic policies would generate 4 percent annual economic growth for the country.
According to his campaign, Bush would halt the implementation of new regulations until an agency head, who he would nominate, approves them. Contending that regulation compliance is hurting businesses and slowing the rate of employment, Bush would call for the costs of new regulations to be offset by rolling back regulations elsewhere.
Bush will cite the costs of compliance with the Dodd-Frank legislation enacted to reform Wall Street after the near-collapse of the financial system in 2008 and 2009. Saying that the law is a drag on community banks, for instance, Bush’s campaign said in a statement, “As a result, it has become increasingly difficult for Americans with less than perfect credit to access capital to start, upgrade, or expand businesses and pursue their ambitions.”
America has not seen 4% economic growth since the late 1990s. Bush’s tax plan is predicted to cause a $3.4 trillion revenue shortfall in a decade. However, his advisors say that the expected boosts to the economy – and savings from overhauling regulations – would reduce the cost to $1.2 trillion over 10 years.
Bush is expected to discuss net neutrality rules for Internet-service providers, limits on carbon emissions, consumer-protection laws, regulations on oil-drilling and the environment, as well as food-safety rules.