On his first day back in office, President Donald Trump signed an executive order directing federal agencies to implement “emergency price relief” measures to address inflation. The order focuses on reducing housing costs, expanding housing supply, and alleviating regulatory burdens.
Trump stated that he needs to curb the inflationary forces, which have touched the American family’s average pocket. “Unprecedented regulatory oppression has added nearly $50,000 in costs to households under the Biden administration. My agenda aims at restoring purchasing power to the American family,” he declared.
The executive order favors streamlining regulation in house building, a point that Trump asserts is 25% of what it takes to construct a new house. The order further compels the elimination of bureaucratic inefficiency and rent-seeking activities that are responsible for driving up healthcare and consumer product costs. Third, the executive order targets the axing of climate regulations that Trump claims are unnaturally inflating the cost of energy as well as food products.
On housing, specifically, is increasing affordability. His plan includes reducing barriers in the construction process and cutting red tape in the building process, among increasing the government’s investment in private investments in housing. “The American dream of homeownership must be attainable again,” he stated.
In a significant structural change, Trump also announced the creation of the Department on Government Efficiency (DOGE), headed by Elon Musk. The new department will focus on reducing unnecessary regulations across federal agencies.
Trump’s call for inflation relief fits into a larger overall economic policy, which will involve proposed tariffs on foreign goods and measures to support American industries. Many critics have said these policies may have unintended consequences, but the supporters of this move think they are indicative of a very strong stance for middle-class family economic relief.
The executive order represents the first step in Trump’s agenda to reshape economic policy and restore affordability for essential goods and services. Housing, in particular, is expected to be a key focus of his administration in the coming months.
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Salaar Shah