If the proposed regulations were left in their current state, the incoming Trump administration would be able to rewrite them and advance his agenda more quickly. President Joe Biden is abandoning his effort to cancel student loans for more than 38 million Americans, the first step in an administration-wide plan to jettison pending regulations to prevent President-elect Donald Trump from retooling them to achieve his own aims.The White House expects to pull back unfinished rules across several agencies if there isn’t enough time to finalize them before Trump takes office.