Analysis: Biden Makes Cutting Costs for Americans Major Priority “Specific, practical” measures to cut costs for American families are at the center of the Biden Administration’s new approach to growing the economy
By Main Street Sentinel Staff
The Biden Administration has announced a new economic vision for Americans, a wide-ranging series of measures, from increasing oil production to investing in infrastructure and lowering prescription drug prices, designed to stimulate the economy while cutting costs for American families.
The administration has already taken swift action to rein in rising prices at the pump brought on by Putin’s invasion of Ukraine, urging increases in domestic oil production that should average 1 million barrels per day this year, and 700,000 barrels per day next year. The White House has also called upon Congress to make oil companies pay fees for over 9,000 unused-but-approved leases for oil production and 12 million acres of federal lands they’ve been hoarding without producing.
In order to ease supply chain snarls and reduce costs of everyday expenses for Americans, the Biden Administration has also announced a series of measures designed to get more truckers on the road. Since President Biden took office, there have been major increases in trucking employment, with 2021 ranking as the best year for trucking employment growth since 1994. The White House is working to bolster that growth by cutting red-tape that has kept Americans from earning their Commercial Driver’s licenses, launching apprenticeship programs, and helping connect veterans to trucking careers.
While the American Rescue Plan has already cut the cost of healthcare and allowed more than 5,000 universities and community colleges to lower the cost of education, Biden has reiterated his commitment to providing specific, targeted relief for American families by reducing “prescription drug costs and health care premiums, child care and pre-k costs, and energy costs.” The President has already called on Congress to send him a bill that will lower costs.
“American families need relief from higher costs,” The White House said in a statement, “and they need it now.”