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In January 2021—the final month of Donald Trump’s presidency—the U.S. Consumer Price Index (CPI) rose by a 1.4 percent annualized rate, compared to 3.2 percent in February 2024 under the ...
Gas peaked at over $5 for the first time ever in June 2022. When adjusted for inflation, Trump’s average is $3.18 in 2024 dollars, 21% less than Biden’s inflation-adjusted price of $3.86.
Under Trump, the U.S. economy expanded by approximately 2.6% annually in his first three years. However, in 2020, the economy contracted by 2.2% due to the pandemic.
The economic policy of the Donald Trump administration was characterized by the individual and corporate tax cuts, attempts to repeal the Affordable Care Act ("Obamacare"), trade protectionism, immigration restriction, deregulation focused on the energy and financial sectors, and responses to the COVID-19 pandemic .
In addition, Trump would like to lower the corporate tax rate to 15% from the 21% set by the 2017 tax cuts – though he acknowledged in an interview last month with Bloomberg Businessweek that ...
The number of uninsured under age 65 fell from 31.2 million in 2020 under President Trump, to 27.0 million during the first half of 2022 under President Biden, a reduction of 3.2 million or 13%. The percentage of uninsured fell from 11.5% to 9.9% during that time. [36]
A study published in fall 2019 in the Journal of Economic Perspectives found that by December 2018, Trump's tariffs resulted in a reduction in aggregate U.S. real income of $1.4 billion per month in deadweight losses, and cost U.S. consumers an additional $3.2 billion per month in added tax. [ 24]
Through Biden’s presidency so far, gas prices have averaged $3.61. That’s 40% higher than gas prices during Trump’s entire term and 35% higher if you exclude the COVID period. Even adjusting ...