DELIVERING A WIN FOR AMERICAN FAMILIES AND LOWERING THE COST OF LIVING: President Donald J. Trump has put an end to certain regulations from the Biden Administration, which he described as burdensome and costly for refrigerators and air conditioners. These rules had significantly increased the cost of transporting and storing refrigerated goods, leading to higher prices for food and everyday items for Americans.
- The Environmental Protection Agency (EPA) has revised the 2023 Technology Transitions Rule to extend the compliance deadlines for using hydrofluorocarbons. This change allows businesses access to a broader range of affordable refrigerants.
- Trump is also proposing changes to the 2024 Emissions Reduction and Reclamation Rule, which had imposed strict leak repair requirements on most large-scale refrigeration systems. These requirements were costly for consumers and small businesses, threatening jobs and resulting in higher prices.
- This increased flexibility is expected to benefit supermarkets, home air conditioning systems, semiconductor chip manufacturing, and medical supply transportation by lowering operating costs, ultimately reducing consumer prices.
REVERSING UNNECESSARY REGULATION TO ENHANCE ECONOMIC OPPORTUNITY: Trump is reversing several costly Biden-era policies that he argues imposed regulatory burdens with little benefit, aiming to restore economic freedom for families and businesses.
- The current actions are projected to save Americans a total of $2.4 billion, offering crucial relief from the high costs that the Biden Administration allegedly placed on grocery stores, businesses, and families.
- Revisions to the Technology Transitions Rule aim to protect over 350,000 skilled American jobs and save Americans more than $900 million, including over $800 million at supermarkets, thus lowering food prices nationwide.
- The EPA estimates that changes to the Emissions Reduction and Reclamation Rule could save those transporting refrigerated goods, including food, up to $1.5 billion.
INVESTING IN AMERICA’S FOOD SUPPLY: Trump is promoting investment in America’s food supply chain alongside a deregulatory agenda to reduce grocery and living costs.
- Recently, Trump introduced a new Small Business Administration (SBA) rule that doubles the cumulative loan limits under the 7(a) and 504 programs to $10 million. This change supports the SBA’s “Grocery Guarantee,” which aims to lower grocery costs by providing 90% Federal guarantees for loans that expand food production.
- Upon returning to office, Trump initiated a 10-to-1 deregulation initiative, ensuring that every new rule is justified by clear benefits.
- In December, Trump announced a major revision of the Biden Administration’s Corporate Average Fuel Economy (CAFE) standards to levels achievable with conventional gasoline and diesel vehicles, potentially saving American families $109 billion over five years.
- Also in December, Trump signed an Executive Order intended to prevent price fixing, anti-competitive behavior, and foreign influence that could raise grocery prices and threaten America’s food supply security.
- In February, Trump repealed the Obama-era Endangerment Finding, claiming to avoid over $1 trillion in costs for Americans.
- Additionally, in February, Trump temporarily raised the U.S. tariff-rate quota for lean beef trimmings to increase supply and make ground beef more affordable amid supply challenges.
- Overall, Trump’s deregulatory measures are claimed to save Americans over $1.2 trillion.
