Trump’s Economic Policies Yield Lowest Gas Prices in Four Years

Rep. David Kustoff, a Tennessee Republican and member of the powerful House Ways and Means Committee, stated on Thursday that legislation passed by Republicans in Congress and signed by President Donald Trump will help Americans address rising inflation and prices that began during the Biden administration.

Kustoff said President Trump entered office facing the fallout from Democrats’ big-government spending spree.

“We saw the highest inflation that we’ve seen in 40 years in the Biden administration,” Kustoff stated, tying the spike directly to Democratic control of the White House and both chambers of Congress.

He blamed “trillions of dollars in brand-new money” pumped into the economy, saying it “couldn’t do anything but cause inflation.”

Kustoff argued that in just 11 months, President Trump has rolled back economic damage by focusing on affordability, particularly energy. Americans filling up their cars are now seeing “the lowest gas prices that we’ve seen in four years,” a sharp contrast to the high costs under former President Joe Biden.

The congressman highlighted a major tax package backed by the president as a key tool to relieve price pressures on families. This legislation, which Kustoff described as a “one big, beautiful bill,” will cut taxes across the board next year by eliminating taxes on tips and overtime pay, permanently lowering tax brackets, and doubling the standard deduction.

“That’s going to create more money that they earned, hard-earned money that they get to keep,” Kustoff said. He argued Americans will have greater freedom to spend and invest as they choose.

Kustoff reported that voters in his western Tennessee district are already feeling the difference between Biden’s economy and Trump’s. Energy prices and grocery costs have eased from Biden-era highs, the stock market is stronger, and 401(k) balances are growing again. Store shelves are “plentiful,” he added, and President Trump’s aggressive trade initiatives—including tariffs and new negotiations—are helping manufacturers and farmers by lowering unfair barriers abroad.

Kustoff also addressed the upcoming fight over expiring Obamacare subsidies. He criticized the enhanced subsidies introduced early in Biden’s term as poorly targeted, noting that some higher-income Americans are receiving benefits they shouldn’t. Republicans favor a plan to empower people with health savings accounts, while Democrats want to lock in the current subsidy structure for years.

Kustoff said Democrats wasted precious time by forcing a government shutdown on October 1, arguing Congress would have had “more runway” to tackle the issue if not for that partisan brinkmanship.