President Trump and Senate Republicans Are Working Toward a More Prosperous America

After Four Years of Economic Neglect, the United States Finally Has a President Focused on Growth

THE BIDEN ECONOMY LEFT FAMILIES BEHIND

Inflation hit a 40-year high under President Biden, affecting everything from groceries, to gas, to housing. (The Associated Press: US inflation at new 40-year high as price increases spread – 6/10/22)

During President Biden’s time in office, costs skyrocketed across the board:

All prices rose an average of 20.65%.
Grocery prices, measured as “food at home,” increased by 22.32%.
Energy prices increased by 30.54%.
Gasoline prices increased by 30.50%.
Electricity prices increased by 28.55%.
Natural gas prices increased by 33.30%.
Rent prices increased by 24.19%.
Car repair and maintenance prices increased by 34.33%. (U.S. Bureau of Labor Statistics: Consumer Price Index News Release – 2/10/21; U.S. Bureau of Labor Statistics: Consumer Price Index News Release – 1/15/25)

Inflation was supercharged by Democrats’ reckless spending sprees:

“Nearly four years ago, the Biden administration and Congressional Democrats made a $1.9 trillion bet in the form of the American Rescue Plan. They lost, as it contributed to a surge in inflation that fueled massive voter discontent and Donald Trump's return to the White House.” (Axios: Democrats' $1.9 trillion bet that blew up – 11/10/24)

Former Obama administration counselor to the Treasury secretary Steven Rattner called the American Rescue Plan “the original sin” of inflation. (The New York Times: Steven Rattner: I Warned the Democrats About Inflation – 11/16/21)

The Penn-Wharton Budget Model increased its estimate of the cost of the Inflation Reduction Act’s climate and energy provisions from $384.9 billion in August 2022 to $1.045 trillion in April 2023 – a 271% increase. (Penn-Wharton Budget Model: Update: Budgetary Cost of Climate and energy provisions in the Inflation Reduction Act – 4/27/23)

Former Obama administration economist Jason Furman: “I can’t think of any mechanism by which [the Inflation Reduction Act] would have brought down inflation to date.” (PBS: Inflation is down, but the Inflation Reduction Act likely doesn’t deserve the credit – 8/16/23)

PRESIDENT TRUMP IS WORKING TO EXPAND ECONOMIC OPPORTUNITY, AND AMERICANS ARE BEGINNING TO NOTICE

The day after President Trump took office, he “announced that Softbank, OpenAI and Oracle have joined forces for a project called Stargate, to build data centers in the U.S. for powering AI” – to the tune of $500 billion over the next four years. (Fox Business: Trump announces largest AI infrastructure project 'in history' involving Softbank, OpenAI and Oracle – 1/21/25)

President Trump secured a $500 billion investment over the next four years from Apple, including “a new factory in Texas, doubling the U.S. Advanced Manufacturing Fund, a manufacturing academy, and accelerated investments in AI and silicon engineering.” (Apple: Apple will spend more than $500 billion in the U.S. over the next four years – 2/24/25)

Just this week, President Trump announced that “Taiwan Semiconductor Manufacturing Co. plans to invest at least $100 billion more in chip-manufacturing plants in the U.S. over the next several years.” (The Wall Street Journal: Trump, Chip Maker TSMC Announce $100 Billion Investment in U.S. – 3/3/25)

On day one, President Trump issued an executive order that took a first step toward protecting the citizens of 12 states from burdensome emissions standards. The standards were permitted by a Biden administration waiver exempting these states from federal fuel standards. (NBC News: Trump's executive orders might threaten growth of electric vehicles and wind power – 1/23/25; White House: Unleashing American Energy – 1/20/25)

Agriculture Secretary Brooke Rollins published a five-point plan to “[eradicate] avian flu,” bring down the price of eggs, and “ensure stability over the next four years and beyond.”

Secretary Rollins’ plan includes an investment of “up to $500 million to [help] U.S. poultry producers implement gold-standard biosecurity measures” and “[removing] unnecessary regulatory burdens on egg producers where possible.” (The Wall Street Journal: Agriculture Secretary Brooke Rollins: My Plan to Lower Egg Prices – 2/26/25)

According to a February Harvard-Harris poll of registered voters, Americans “now say the economy is on the right track” by a factor of 10 percentage points more than January.

47% “now say the economy is strong today, the highest it has been since 2021.” (Harvard-Harris Poll – Feb. 2025)

51% of Americans approve of President Trump’s handling of the economy, while a plurality of Americans – 34% – expect the economy next year to be “booming” or “growing.” (CBS News Poll – Feb. 2025; CBS News Poll – Feb. 2025)

SENATE REPUBLICANS ARE WORKING ALONGSIDE THE ADMINISTRATION TO MAKE ITS EFFORTS GO FURTHER

“[W]e’ve also been laying the groundwork for making the tax cuts we passed during the first Trump administration permanent, as well as delivering a transformational investment in our border, national, and energy security. And, of course, we are currently working to overturn burdensome Biden administration regulations using the Congressional Review Act.” – Senate Majority Leader John Thune (R-S.D.)

“Luckily, President Trump is already taking action to unleash American energy. We need to work with him to reverse the last administration’s failures and make America Energy Independent again.” – Sen. James Lankford (R-Okla.)

Senate and House Republicans voted last week “on legislation to undo a range of Biden-era rules, teeing up their first major steps toward rolling back the previous administration’s regulatory agenda.” (Politico: House, Senate GOP to begin undoing Biden regulations – 2/21/25)

The Senate voted to overturn “a Biden administration regulation hampering domestic energy production… Republican Louisiana Sen. John Kennedy sponsored the resolution, which sought to repeal a Bureau of Ocean Energy Management (BOEM) rule handicapping offshore oil and gas production.” (S.J. Res. 11: Roll Call Vote #92 – 2/25/25; The Daily Caller: Senate Dems Obstruct GOP Effort To Remove Biden’s Handcuffs On American Energy – 2/25/25)

The Senate also passed Sen. John Hoeven’s (R-N.D.) resolution to “block implementation of the Biden administration’s Natural Gas Tax,” also known as the methane fee, “which was passed as part of the Inflation Reduction Act, Democrats’ reckless tax-and-spend legislation in 2022.” (H.J. Res. 35: Roll Call Vote #97 – 2/27/25; Sen. Hoeven: Hoeven, Pfluger Continue Efforts to Block Biden’s Natural Gas Tax, Alleviate Burden on U.S. Domestic Energy Production – 2/4/25)

The Senate passed Republicans’ budget resolution, marking the first step in getting the country on track to achieve “energy independence by unleashing American energy production through on and offshore lease sales, and stopping the Biden Administration’s natural gas tax, also known as the methane emissions fee.” (U.S. Senate Committee on the Budget: Chairman Graham Unveils FY 2025 Budget Resolution To Secure The Border, Revitalize Our Military, Unleash American Energy Production And Begin The Process Of Restoring Fiscal Sanity – 2/7/25; S. Con. Res. 7: Roll Call Vote #87 – 2/21/25)

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