While millions of Americans have taken to the street and social media to express their outrage and discontent over President Trump’s new executive orders on immigration, there’s one group that is flying high after the new President put pen to paper to fulfill one of his campaign promises: less regulation for small business folks. According to CNBC this week, optimism for the future of the small business world is high.
“Small-business optimism continued to rise in January, reaching the highest levels in more than 10 years thanks to new executive orders from the White House signaling looser regulations for small businesses, Paychex CEO Martin Mucci told CNBC on Tuesday.
“We’re really coming off of a high on … how great things are going to be,” Mucci told “Squawk Box.” “You saw … the executive order that was just signed on less regulations that have been choking small businesses, and now we’ve had two months where the small-business index has gone up, so really good news. Let’s see if it continues to translate into jobs.”
In the wake of this news, business indexes rose in all areas of the country except for the South Atlantic, which only saw a small decrease. The Southeast has the most favorable numbers with Tennessee and Georgia flourishing due to rises in e-commerce.
With this executive order, President Trump is fulfilling his promise to the American people of building a stronger economy by cutting corporate taxes and limiting regulations. His new order calls for regulatory review that will cut two regulations for every new one proposed. Federal agencies will propose rules they want to drop and the White House will review them.
Critics of President Trump cite a reduction of protections for consumers and the environment in an effort to favor businesses. Many of the specific regulations Trump has criticized relate to environmental protection. Trump defends his order by saying that regulations bring control, but it will be “normalized control”
