On Oct. 17, The White House held a “Cutting the Red Tape, Unleashing Economic Freedom” event in the Oval Office to discuss the administration’s progress on deregulation—a policy change that’s helping drive record small business optimism.
“We’re here today to discuss my administration’s historic effort to reduce job-killing regulations,” the president said. “We have set a record on killing regulations. No administration has knocked out as many as us, and we have a long way to go. At the same time, we will have rules, regulations, and other standards which we need, we have to have. But we have knocked out tremendous numbers of unnecessary regulations.”
For decades, “Unreasonable government regulations” have been among the top concerns for NFIB members, according to NFIB’s quadrennial Small Business Problems & Priorities. On the most recent list, it ranked No. 2, just behind the “cost of health insurance.”
Chip Kovach, NFIB member and VP of engineering at City Machine Technologies in Youngstown, Ohio, attended the event.
Kovach was invited to the White House, along with other business owners and community representatives, to meet with President Trump and discuss the positive effect of the Trump administration’s deregulatory efforts.
He also appeared on Fox Business’ “Varney & Co.” live from the White House alongside United States Small Business Administrator (S.B.A.) Linda McMahon before the White House meeting. When asked how his business, City Machine Technologies, has benefited from deregulation, Kovach attributed regulatory rollbacks for the recent gains to the oil and gas industry.
“As a company based in Youngstown, Ohio, we are right in the center of the oil and gas boom that’s happening right now,” Kovach said during the interview. “Our company supports industrial manufacturing, repair their equipment, keep them up and running, so if we’re busy, they’re busy. Right now, we’re the busiest we’ve ever been.”