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December 9, 2025 | Research | Adam Brauns
Economy

Biden Created Historic Inflation. President Trump Is Working Tirelessly To Fix It

Research

PRESIDENT TRUMP IS TAKING ACTION TO BRING DOWN PRICES AFTER FOUR DISASTROUS YEARS UNDER JOE BIDEN

  • Inflation hit a 40-year high under Joe Biden and President Trump is determined to lower costs for the American people.
    • The most recent inflation data from the consumer price index put the annual inflation rate at 3.0%, lower than what economists expected.
    • Inflation has remained at a steady rate under President Trump, averaging 2.5% compared to 5.0% under Biden.
  • Immediately after taking office, President Trump blocked all unfinalized Biden era regulations, saving Americans over $180 billion.
    • President Trump also ordered agencies to roll back existing federal regulation that drive up the cost of living, saving Americans billions of dollars.
  • Government deregulation will save taxpayers money.
    • One of President Trump’s first orders was the 10-to-1 deregulatory initiative : for every one new rule an agency proposes, it must eliminate ten existing rules or guidance documents. 
  • Joe Biden oversaw a porous border allowing millions of illegal aliens into our country.
    • Under President Trump’s leadership, there have been seven straight months of zero releases therefore allowing Americans to obtain more jobs instead of unvetted illegal immigrants.
    • The results show immigration enforcement helps American jobs as over the past year, more than 2.5 native-born Americans gained employment, while 670,000 foreign-born workers lost employment.
  • President Trump is undoing Joe Biden’s expensive and unworkable fuel efficiency standards for cars.
    • The Biden administration set unrealistic standards for consumers to shift to expensive electric vehicles, raising the cost of cars powered by gasoline or diesel.
    • These actions will save American families $109 billion over the next five years.
  • President Trump’s historic Working Families Tax Cut Act eliminated taxes on tips, overtime, and Social Security which will raise Americans’ take-home pay by as much as $13,300 and increase wages by as much as $11,600.
  • President Trump wants to help all Americans achieve financial security and wants our newest generation to start off ahead of the game, and that’s why he started “Trump Accounts ” where the government will deposit $1,000 for every American child born between 2025-2028.
    • American children can begin building wealth from birth through compounding growth, turning small early investments into meaningful long-term savings.
    • A maximized account could grow up to $1.9 million by the time the child reaches age 28.
    • The program received a donation of over $6 billion from Michael Dell, founder and CEO of Dell Technologies.
  • The most recent jobs report showed the U.S. economy added more than double the jobs economists had predicted.
    • The report showed workers’ real wages are up $700 and are on track for a $1,000 increase after President Trump’s first year in office.
    • Under President Trump, all job gains have gone to native-born Americans while 670,000 foreign-born workers lost employment.
  • President Trump is securing trillions of dollars in private and foreign investment deals that will lead to new jobs throughout the country.
    • These sectors include manufacturing, technology, AI, pharmaceuticals, and energy.
  • Consumers are seeing the benefits of a Trump economy during the Holiday season.
    • Thanksgiving dinner was less expensive in 2025 than it was one year ago.
    • Holiday spending was up 7.7% compared to last year.
  • The Interior Department launched their “Make Christmas Affordable Again” plan.
    • The Bureau of Land Management will reduce firewood and Christmas tree permits which could help American families save $400 during the holiday season.

PRESIDENT TRUMP IS BRINGING DOWN DRUG PRICES

  • President Trump is working to lower drug prices for Americans with his Most-Favored-Nation drug pricing plan.
    • Thanks to an executive order signed by President Trump, Americans will pay less for prescription drugs.
    • In July, President Trump sent a letter to the leading pharmaceutical manufacturers outlining how they must bring down the cost of prescription drugs to match the lowest price of other nations.
    • President Trump has since announced five deals with major pharmaceutical manufacturers to bring drug prices down including Pfizer, AstraZeneca, and Eli Lilly.
    • These unprecedented deals will lower costs for inhalers , arthritis medication, obesity drugs, and infertility medicine.
  • Thanks to this unprecedented effort to get pharmaceutical companies to lower their prices for Americans, the president was able to launch TrumpRX .
    • This direct-to-consumer government website will allow Americans to purchase drugs at a discounted price negotiated by the government.

HOUSING AND RENT COSTS ARE COMING DOWN

  • National median rent has fallen four months in a row as rent prices fell 1% in November.
  • President Trump is making it more affordable for Americans to buy a home.
    • Under the Biden administration, mortgage rates hit a 22-year high .
    • President Trump has brought down the 30-year fixed mortgage rate from over 7% when he took office to 6.2% today.

PRICES FOR HOUSEHOLD ITEMS ARE COMING DOWN

  • Egg prices have fallen nearly $1.50 since President Trump took office.
  • Standard household items like spaghetti and macaroni , white bread, ice cream, tomatoes , and beans have all seen prices decrease under the administration.
  • The Breakfast Basics Index — which measures the price of three eggs, a glass of milk, a bagel, and an avocado — decreased 14% between March and September and 1.7% over the past year.
  • The Everyday Essentials Index — which measures the price of toothpaste, shampoo, toilet paper, laundry detergent, pain medicine, and diapers — fell over the past year.

GAS PRICES HAVE FALLEN AFTER RECORD HIGHS UNDER BIDEN

  • The Biden years saw the most expensive gas prices in American history.
    • Biden oversaw the most expensive gas in the nation’s history when average gas prices reached $4.93 in June of 2022.
  • Gas prices have hit a four-year low under President Trump as averages have fallen below $3.
  • Americans are on track to spend the least amount of their disposable income on gas in the past two decades.
  • Households heated by propane or heating oil will pay less to heat their homes this winter than last winter.

PRESIDENT TRUMP IS WORKING TO MAKE PENNSYLVANIA MORE AFFORDABLE

  • Pennsylvania’s average gas prices are down compared to last year.
  • Thanks to the passage of the One Big Beautiful Bill, Pennsylvanians could see their wages rise $3,700-$6,700 over the next four years.
  • Numerous companies are investing billions of dollars into projects in the Commonwealth of Pennsylvania which will generate thousands of jobs.
    • These investments are headlined by Amazon’s $20 billion plan to create over 1,200 jobs and expand its data center infrastructure for artificial intelligence and cloud computing.

Nippon Steel plans to invest nearly $11 billion in a Pittsburgh steel plant.