You are here: Home » International » News » Economy
Business Standard

Trump budget envisions $35-bn savings on Wall Street regulations rollback

Rolling back of Dodd-Frank financial reform bill would save $24 billion over a decade


US President Donald Trump's proposed budget estimates that the federal government could save $35 billion over the next decade by rolling back regulations governing Wall Street. The White House does not detail how those savings, which are equivalent to the annual economic output of the Democratic Republic of Congo, would be realised. But the administration said an ongoing review of existing financial rules "will likely result in proposals that will provide significant savings to the federal government." While it is not expected to be passed by Congress, the financial ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, May 24 2017. 19:20 IST