President Trump is Undoing Biden’s Economic Damage

President Donald J. Trump took office on a promise to lower costs for the American people — and the actions he has taken are already paying off while the work continues to turn back the economic plague unleashed by the Biden Administration.

• President Trump put into action a comprehensive plan to lower egg prices.
• President Trump directed the heads of all executive departments and agencies to “deliver emergency price relief … to the American people and increase the prosperity of the American worker.”
• President Trump established the National Energy Dominance Council to maximize use of the U.S.’ extensive energy resources — thereby enabling lower energy prices.
  • Crude oil prices have fallen over 5% since President Trump took office.
• The Trump Administration postponed burdensome Biden-era efficiency standard rules for the following appliances, saving American consumers large sums:
  • Central air conditioners: Biden rules were slated to make air conditioners $1,100 more expensive.
  • Gas water heaters: Biden rules were slated to make water heaters $2,800 more expensive.
  • Gas stoves: Biden rules were slated to make stoves $3,250 more expensive.
  • Clothes washers and dryers: Biden rules were slated to make washers $200 more expensive.
  • Light bulbs: Biden rules were slated to make light bulbs $140 more expensive.
• The Trump Administration is requiring agencies to identify at least ten existing rules or regulations to be repealed for every one new rule or regulation they promulgate — putting the country on track to severely reduce costs for everyday Americans.
  • In 2023, the total cost of federal regulations was a record-breaking $2.1 trillion, or $15,788 per U.S. household, according to one analysis — while another found the cost of federal regulations was even greater at $3.079 trillion in 2022.
• President Trump directed the Department of Government Efficiency (DOGE) to root out bureaucratic waste — and within weeks, it has already saved taxpayers billions of dollars.
• The Trump Administration eliminated the overbearing Biden-era electric vehicle mandate by resetting Corporate Average Fuel Economy (CAFE) standards.
  • NBER economist Mark R. Jacobsen estimates that “a one-mpg increase in CAFE standards costs consumers of all income levels approximately 0.5% of their income in the first year of the increase. By the 10th year following the increase, however, this cost becomes regressive, as the increase drives up the price of used cars. A one-mpg increase in CAFE standards costs consumers earning less than $25,000 per year 1.12% of their income, but only costs consumers earning more than $75,000 per year 0.41% of their income.”