Since taking office, President Donald J. Trump has made significant strides in addressing the inflation and cost-of-living issues he attributes to the prior administration’s fiscal mismanagement. Inflation has been reduced by over half, gas prices have seen a notable decline, real wages are on the rise, and essential household expenses are finally moving in a more favorable direction.
However, President Trump emphasizes that further actions are essential to ensure that every American can fully experience the benefits of decreased costs. While Democrats may try to present themselves as advocates for affordability, the truth remains that they played a pivotal role in creating the economic challenges—President Trump is committed to rectifying this situation.
On Inflation…
President Trump has effectively mitigated the inflation crisis attributed to the Biden Administration—and is focused on reducing it even further.
- During Biden’s tenure, inflation averaged nearly 5% and reached a peak of 9.1% amidst the worst inflationary period in decades, driven by unchecked spending policies from the Radical Left.
- In President Trump’s second term, inflation has averaged just 2.7%—a crucial first step in reversing the Democrats’ cost-of-living crisis. Remarkably, under his leadership, Americans have even experienced the first overall price decline since 2020.
On Wages…
Under President Trump, American workers have seen tangible wage increases—efforts continue to rectify the losses incurred during Biden’s term.
- During Biden’s administration, American workers lost over $2,900 in purchasing power as inflation outpaced wage growth.
- In President Trump’s second term, real wages have increased by nearly 4%—that’s about $700—and are projected to rise by nearly $1,200 by the end of his first full year in office, even after adjusting for higher prices.
On Gas Prices…
Americans are now spending less on gas than they have in years—and this is just the beginning.
- Under Biden, gas prices soared to the highest levels in history—even after depleting our strategic reserves to manipulate prices.
- In President Trump’s second term, gas prices have dropped to the lowest average in 1,682 days, with Americans on track to spend the least amount of their disposable income on gasoline in two decades. In fact, average gas prices have dipped below $3 per gallon in 36 states, under $2.75 in 20 states, and even below $2.50 in five states—with some stations reporting prices below $2 per gallon in at least four states.
On Housing Costs…
Housing affordability is finally showing signs of improvement.
- Under Biden, mortgage rates soared to their highest in decades, while rents skyrocketed.
- As of early December, the average 30-year fixed mortgage rate stood at 6.19%, which is 12% lower than when President Trump took office. Shelter inflation, according to the Consumer Price Index, is now at a four-year low, and the national median rent has declined for four consecutive months.
On Grocery Prices…
Prices for essential grocery items are beginning to show declines—and there’s much more progress anticipated.
- Under President Trump, the prices of eggs, butter, ice cream, fresh fruit, cereals, fish, seafood, rice, pasta, and ham have all seen reductions.
On Everything Else…
The Trump Administration will persist in its comprehensive approach to drive prices down, enhance take-home pay, and strengthen the economy so that all Americans can experience relief.
- President Trump enacted the largest tax cuts in American history. This includes provisions like No Tax on Tips, No Tax on Overtime, and No Tax on Social Security—savings that will reflect positively in Americans’ tax returns. This landmark legislation has the potential to boost Americans’ take-home pay by as much as $13,300 and wages by up to $11,600. Millions of Americans can expect increased tax refunds, with the average refund projected to rise by about $1,000 per filer.
- President Trump’s deregulation efforts are saving Americans a staggering $180 billion—approximately $2,100 per family of four. For instance, he has halted onerous Biden-era efficiency standards that inflated the prices of everyday appliances.
- American consumers are flourishing. Consumer sentiment is increasing once again, and small business optimism is rising amid record holiday shopping and sales.
- President Trump is revitalizing jobs and investment in the U.S. Since his inauguration, billions of dollars have flowed back into American companies, resulting in the creation of hundreds of thousands of new jobs for American workers.
- 1.9 million more American-born workers are employed today compared to when President Trump assumed office. Currently, the U.S. workforce is at its highest level in history.
- President Trump is actively working to reduce the deficit. A combination of spending cuts, interest savings, economic growth, and tariff revenues are anticipated to decrease the deficit by trillions of dollars—leading to higher take-home pay, lower interest rates, and a robust economy.
The Trump Administration remains relentless in its pursuit of controlling the high prices spawned by Democratic policies. Progress is being made—and the most promising developments are yet to unfold.
