Trump Administration Rolling Back Biden-Era Fuel Economy Standards that Drove Up Car Prices

Trump and Transportation Secretary Sean Duffy announced the reset in the Oval Office while flanked by Republican lawmakers and auto industry leaders.

“We’re officially terminating Joe Biden’s ridiculously burdensome, horrible, actually, CAFE standards that impose expensive restrictions and all sorts of problems to auto makers,” Trump said.

The president noted that the CAFE standards imposed by the previous administration impacted both domestic and foreign manufacturers making cars for the American market and, in turn, consumers.

“And we’re not only talking about here, we’re talking about outside of our country, because nobody could do it. Nobody wanted to do it, and it was ridiculous, very expensive,” he said.

“It put tremendous upward pressure on car prices, combined with the insane electric vehicle mandate. Biden’s burdensome regulations helped cause the price of cars to soar more than 25 percent, and in one case, they went up 18 percent in one year,” he added.

Read Full Article Here