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Trump Budget Will Reverse Burdensome Regulation

U.S. Department of the Treasury Secretary Steven Mnuchin expressed his approval of President Donald Trump’s newly released budget proposal. In his statement he also mentioned that the budget focuses on Treasury as a main objective of collecting revenue and managing the nation’s debt, while modernizing, streamlining, and increasing efficiencies to reduce operating expenditures.

Additionally it focuses on investments in cyber security, and maintains critical funding to implement sanctions, combat terrorist financing, and protect financial institutions from threats. The proposal will achieve savings through reforms that will prevent taxpayer bailouts and reverse burdensome regulations which have earlier harmed small businesses and American workers.

News Characteristics

Date : May 23, 2017
Region : North America
Industry : Mortgage Companies
Function : Regulation and Compliance
Sub-Function : Regulatory changes