The Small Business Administration (SBA) on Monday launched a new “strike force” aiming to axe Biden-era regulations that drove up costs for American small businesses.
The new “Deregulation Strike Force,” led by the SBA’s Office of Advocacy, will aim to both identify and eliminate any Biden-era regulations that have imposed unnecessary costs on American small business owners, according to a news release. SBA Administrator Kelly Loeffler said in a statement that her agency’s task force will help to “cut senseless red tape” for U.S. small businesses and consumers.
“Bidenomics brought historic new highs in inflation that crushed working families and small businesses, driven in part by the massive bureaucracy that heaped trillions in new federal regulations onto the backs of hardworking Americans,” Loeffler said. “Through our Deregulation Strike Force, SBA is leveraging its unique authority to deregulate across the federal government and cut senseless red tape that drove up costs for small businesses and consumers – especially in industries hit hardest by Bidenflation.”
“Our efforts will add to President [Donald] Trump’s ongoing work to cut prices, from energy to food to housing, by delivering meaningful relief on Main Street,” Loeffler continued.
The SBA’s new task force is aimed at slashing regulations for U.S. small businesses in a variety of industries, including housing and construction, health care, agriculture and food production, energy, transportation and logistics, as well as other goods and services, according to the news release. The SBA has already helped to terminate an estimated $98.9 billion in federal regulations since Trump returned to the Oval Office in January, per the news release.
A July 2024 Committee To Unleash Prosperity report found that former President Joe Biden’s administration was on track to add $47,000 in net present value regulatory costs per American household from rules finalized during his term.
Inflation surged during the Biden administration, hitting a new record high of 9.1% in July 2022. U.S. gas prices similarly rose during part of Biden’s sole term.
Trump and Vice President JD Vance have been spearheading an effort to highlight the administration’s economic policies ahead of the 2026 midterm elections. Vance claimed in a Dec. 10 X post that Biden’s “insane” economic policies left Americans “unable to afford a decent living in their own country.”
“Through tax cuts, better paying jobs, and investment in American industry, President Trump is making America affordable again for working families one step at a time,” Vance wrote in the social media post.
Former Vice President Kamala Harris said during a speech at the Democratic National Committee’s annual winter meeting on Friday that American households are now dealing with an “affordability crisis” under Trump.
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