Federal Government & Administrative Affairs
## What is the Presidential Action?
The President has issued an executive order directing all executive departments and agencies to take immediate steps to provide emergency price relief to the American public. This includes actions to lower housing costs, reduce healthcare expenses, and eliminate certain climate-related policies that have increased the prices of food and fuel.
## Background or Context with Statistics and Source References
Over the last four years, policies implemented by the previous administration have led to significant inflation, impacting the cost of essential goods and services. This has resulted in an estimated additional cost of almost $50,000 per American household. In contrast, the previous term of the current administration reduced regulatory costs by nearly $11,000 per household. The current executive order aims to reverse the inflationary trend by reducing regulatory burdens and promoting economic efficiency.
## Why This Action Was Taken
The action was taken in response to the severe economic strain placed on American families due to high costs of living exacerbated by regulatory policies. The order seeks to alleviate these pressures by removing unnecessary regulations, thereby improving the purchasing power and overall economic well-being of American workers and their families.
## Short and Long-Term Impact on People
In the short term, the order is expected to decrease the cost of living by making housing, healthcare, and essential goods more affordable. In the long term, it aims to foster a more robust economic environment that supports job creation and sustains lower costs of living through increased supply and reduced regulatory interference.
## Performance/Impact Parameters to Measure Success
Success will be measured by the reduction in the average cost of living for American households, improvements in the housing market, lower healthcare costs, and overall economic growth indicators such as employment rates and GDP growth.
## Constitutional Validity and Legal Precedents
The executive order is issued under the President’s authority to oversee executive departments and agencies. This action aligns with precedents set by previous administrations that utilized executive orders to address economic and regulatory issues. Legal challenges may arise concerning specific implementations, but generally, the order stands on firm constitutional grounds.
The effectiveness of this presidential action will be monitored through regular reports from the Assistant to the President for Economic Policy, ensuring transparency and accountability in meeting the order’s objectives.
