On January 20, 2025, President Donald Trump signed a series of executive orders aimed at addressing the rising cost of living, which had increased by 22% during the Biden administration.
Energy Policy Reforms
Central to President Trump’s strategy is the declaration of a national energy emergency, intended to unlock various authorities to rapidly expand domestic energy production.
This move includes lifting restrictions on oil drilling in Alaska and other coastal areas, reversing previous limitations imposed during the Biden era.
By increasing the supply of oil and gas, the administration aims to reduce energy costs, which are a significant component of overall consumer expenses.
Reversal of Electric Vehicle Mandates
Another significant action is the revocation of policies that encouraged automakers to ensure that 50% of their vehicle production would be electric by 2030.
President Trump argues that such mandates increase manufacturing costs and, consequently, vehicle prices for consumers. By removing these requirements, the administration seeks to provide consumers with more affordable vehicle options and stimulate the automotive market.
Withdrawal from the Paris Climate Agreement
In a move consistent with his previous tenure, President Trump has withdrawn the United States from the 2015 Paris Climate Agreement.
He contends that the accord imposes unfair emission reduction burdens on the U.S. compared to countries like China, potentially leading to higher energy costs domestically. This withdrawal is intended to allow for more flexible and economically favorable energy policies.
Establishment of the Department of Government Efficiency
To further combat rising living costs, President Trump has established the Department of Government Efficiency, appointing Elon Musk as its head.
This department is tasked with streamlining government operations, reducing bureaucratic overhead, and implementing cost-saving measures across federal agencies. The anticipated result is a more efficient government that can better serve the public while reducing expenditures.
Comprehensive Approach to Reducing Living Costs
The administration’s approach extends beyond energy policies. President Trump has signed orders aimed at lowering prices in critical areas such as housing and food.
By addressing regulatory barriers and promoting policies that increase supply and competition, the administration seeks to make essential goods and services more affordable for Americans.
Conclusion
President Trump’s executive actions represent a multifaceted strategy to tackle the increased cost of living experienced under the previous administration. By focusing on energy independence, deregulation, and government efficiency, these measures aim to alleviate financial pressures on American households and stimulate economic growth.
