Trump takes axe to federal red tape, cuts 600+ rules in one year, touts billions in savings

"The Trump Administration's deregulatory agenda is the most ambitious in American history," OMB Director Russ Vought said in a statement to Fox News Digital. "We have blown far past the target 10 to 1 deregulatory ratio in President Trump's Executive Order, saving hundreds of billions for the American people."

"In less than one year we have already achieved more savings than in all four years of the prior Trump Administration, and we're just getting started," Vought said. 

Meanwhile, the Biden administration added between roughly 400 and nearly 800 rules each year - which were often coupled with additional regulations, according to a senior administration official. 

Total regulatory costs imposed under the Biden administration snowballed and accumulated to $1.8 trillion during his term in the White House, according to the American Action Forum, a center-right policy institute. 

Biden did not immediately respond to a request for comment from Fox News Digital. 

Meanwhile, the Trump administration has come under scrutiny from Democrats and some Republicans for its deregulatory push. 

Democrats opposed a proposal from Trump's Labor Department to slash more than 60 workplace regulations that encompassed a host of issues, including minimum wage requirements to harmful substance exposure guidelines. 

"Donald Trump is betraying America's workers by forcing people to choose between a paycheck and their safety," Democratic National Committee Chair Ken Martin said in a statement in July. "Slashing basic protections like standards to ensure roofs don't collapse, minimum wage for home health care workers, and proper lighting in a construction site won't make workers safer or small businesses stronger - it will just make greedy corporations richer."