President Donald Trump saved American businesses $23 billion in the past year, according to a new report.

The Office of Information and Regulatory Affairs released analysis showing that federal agencies issued 176 deregulatory actions which freed up economic activity.

Office of Management and Budget Director Mick Mulvaney will highlight the news in a cabinet meeting later Wednesday with the president, an administration source tells Breitbart News.

OIRA Administrator Neomi Rao noted that Trump’s actions in just two years demonstrated a “fundamental change in direction” from the Obama administration, which imposed more regulatory burdens on American businesses.

“The reform agenda emphasizes individual freedom and unleashing the potential of American workers, innovators, and businesses,” Rao said in a statement. “We aim for common-sense regulatory policy that benefits all Americans.“

Read the report below:

2018 Unified Agenda – Cutting the Red Tape_1