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Biden administration's policies drive soaring costs for Americans

September 19, 2024 | Oversight and Reform: House Committee, Standing Committees - House & Senate, Congressional Hearings Compilation, Legislative, Federal


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Biden administration's policies drive soaring costs for Americans
During a recent government meeting, significant concerns were raised regarding the economic impact of the Biden-Harris administration's environmental policies. A representative highlighted that the Environmental Protection Agency (EPA) under this administration has imposed approximately $1.3 trillion in regulatory costs on Americans, a stark contrast to the $300 billion added during the Obama administration's eight years.

The representative argued that these regulatory costs act as a hidden tax on consumers, leading to increased prices across various sectors, including fuel, electricity, and groceries. They noted that since the Biden-Harris administration took office, the overall cost of living has surged by over 20%, equating to an additional $11,000 per year for families to maintain their standard of living.

The discussion emphasized that the administration's energy and climate policies have played a significant role in this economic strain, particularly through actions perceived as a \"war on fossil fuels.\" The representative pointed out that traditional energy sources—coal, oil, and natural gas—still account for 80% of the nation’s energy needs, suggesting that restricting these resources could exacerbate inflation and economic hardship for American families.

The meeting underscored the ongoing debate over balancing environmental regulations with economic stability, as lawmakers continue to scrutinize the implications of current policies on everyday Americans.

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