Nov 26, 2025 By Tom Flickinger 4 min read

Bringing down the cost of living has been one of Donald Trump’s most frequently emphasized economic priorities. His approach blends deregulation, tax reform, energy expansion, and targeted interventions in areas such as drug pricing and housing. Taken together, Trump’s agenda presents a broad strategy focused on reducing government-imposed costs, boosting domestic production, and increasing household take-home pay.

Emergency price relief: A centerpiece of Trump’s cost-of-living plan is his “emergency price-relief” directive to federal agencies. This memorandum orders all agencies to identify and roll back regulations that raise costs for families. The directive highlights several sectors – housing, health care, energy, transportation, food production – and asks agencies to remove “counterproductive” rules that increase production costs or slow supply.

The goal is straightforward: reduce regulatory burdens in order to lower prices of goods and services. The administration argues that rules surrounding appliance efficiency, environmental compliance, and permitting add unnecessary costs that consumers ultimately pay.

Large-scale deregulation: Deregulation has long been a signature Trump initiative. His administration introduced a “10-for-1” rule requiring that 10 old regulations be eliminated for every new one introduced. The White House claims that rolling back rules relating to industry, energy, and manufacturing has saved American families thousands of dollars by reducing compliance and production costs that would otherwise be passed on.

Consumer products have been a focus of this deregulation strategy. Trump’s rollback of appliance efficiency standards – for items like dishwashers, air conditioners, water heaters, and washing machines – was aimed at lowering purchase prices and giving manufacturers more flexibility. Trump’s advisers argue that such rollbacks allow businesses to innovate freely and offer cheaper models.

Expanding U.S. energy production: Energy prices play a central role in the cost of living, affecting everything from gasoline to electricity to food production. Trump’s energy strategy – often described as “American energy dominance” – seeks to expand domestic production of oil, natural gas, and other fuels. The administration argues that greater supply lowers consumer costs, reduces dependence on foreign energy, and stabilizes prices.

To achieve these goals, Trump has rolled back climate-related regulations and restrictions on drilling, pipelines, and fossil fuel development. His administration also argues that eliminating certain green-energy mandates will directly lower utility bills and fuel costs. Trump continues to make energy deregulation one of his primary levers for lowering living costs.

Tax relief: Trump frequently frames tax relief as a major component of reducing financial pressure on families. His plans include eliminating taxes on tips, overtime pay, and Social Security income, along with broader income-tax reductions. These proposals aim to increase disposable income without waiting for broad price declines in the economy.

Trump also emphasizes the effects of his previous tax cuts, arguing that lower federal tax burdens provide families immediate relief and stimulate economic growth. Supporters see tax cuts as a direct boost to household budgets.

Housing affordability measures: Housing costs are among the fastest-rising components of the American cost of living. Trump’s price-relief directives include expanding housing supply by reducing what he characterizes as excessive zoning and permitting regulations. By simplifying federal reviews and reducing administrative costs for developers, the administration believes more housing can be built faster and cheaper.

Advocates argue that reducing regulatory barriers lowers construction costs and increases supply, which can help cool rents and home prices.

Prescription drug price reforms: Trump has supported several actions intended to lower drug prices. These include:

• Accelerating the approval of generic and biosimilar drugs;

• Allowing the importation of cheaper medications from abroad;

• Reducing the cost of drugs like insulin;

• Pushing for pricing tied to international benchmarks;

• Exploring expanded Medicare negotiating authority.

The administration argues that these measures will create competition and lower prices, though pharmaceutical companies have pushed back, citing concerns over research investment and regulatory complexity.

Government efficiency: Through the creation of the Department of Government Efficiency, Trump aims to cut waste, streamline federal operations, and eliminate agencies or programs deemed unnecessary. The belief is that a leaner federal government helps reduce indirect costs that ultimately reach taxpayers and consumers.

Donald Trump’s approach to lowering the cost of living centers on removing government barriers, boosting domestic energy production, offering tax relief, reducing regulatory burdens, increasing housing supply, and lowering drug prices. Supporters argue that these measures collectively reduce both direct consumer costs and hidden costs embedded in the economy. Critics note that some policies – especially tariffs, deregulation, and immigration restrictions – may create counter-pressures that increase prices in other areas.

Still, Trump’s agenda presents a cohesive framework rooted in deregulation, expanded production, and increasing household income, all intended to relieve economic pressure on American families.

Tom Flickinger lives in South Strabane Township.