One of the most important legacies the Trump administration will leave behind is the mountain of regulatory red tape taken off the books. This red tape reduction contributed greatly to the expansion of our economy, the growth of the stock market, and the reduction in unemployment. This has been a key part, if not the cornerstone, of fulfilling the president’s promise to “drain the swamp” in Washington.

Sadly, most, if not all, of these gains were wiped out by the exogenous economic shock posed by the coronavirus pandemic. Policymakers are scrambling to figure out how to keep the economy from plunging closer and closer to another depression. The answer is right in front of their eyes. The administration simply needs to do the same thing that got the economy to such historic heights in the first place: get the federal government out of the way.