Biden on Day 1 scrapped Trump rule that helped US save $160 billion: report

President Biden left no doubts on day one in the White House that the Trump era of deregulation was over, according to a report.

Soon after taking office Jan. 20, Biden scrapped a Trump deregulation rule that had helped save the U.S. about $160 billion, according to an analysis by the American Action Forum (AAF), a think tank that focuses on economic and fiscal policy issues.

"I wager in saying that, going back in the modern era of presidents, even back through Reagan, this is probably the most deregulatory administration we’ve seen in terms of being able to quantify the economic savings that it produced," AAF report author Dan Bosch, the group’s director of regulatory policy, told the Times.

The group’s findings were reported Thursday by the Washington Times.

Trump’s deregulation efforts as president were highlighted by a "one in, two out" rule that required two existing regulations to be scrapped every time a new regulation was enacted, according to the report.

The nation’s 45th president also set limits on how much a regulation could cost.

Trump’s actions saved the country $155 billion to $165 billion between 2017 and 2021, the AAF estimates, according to the Times.