Trump just made cars more affordable
It can be easy to forget in a midterm election year, but presidents have immense power to drive up consumer costs. President Joe Biden was doing exactly that for car buyers until President Donald Trump took back the White House. This week, the Transportation Department took another step toward making it easier for Americans to buy the cars they want at affordable prices.
TL;DR
- The National Highway Traffic Safety Administration lowered the projected 2031 fleet requirement from 50 mpg to 35 mpg.
- Biden's administration used regulations and subsidies to push manufacturers towards electric vehicles, increasing costs for gasoline car buyers.
- Electric vehicle sales did not meet Biden's targets, and consumer polling indicated a preference for gasoline-powered vehicles.
- The Trump administration's new rule is estimated to reduce new vehicle costs by about $1,300.
- The article contrasts Democratic policies that increase costs with Republican policies that aim for affordability.