Biden’s increased regulations will expand government and hinder the American dream

The Biden administration is facing criticism for its handling of the economy, with a new report revealing the devastating impact of its policies on American families. According to Advancing American Freedom, inflation has hit 40-year highs and prices have surged nearly 18% since President Joe Biden took office, costing American families an extra $15,133 per year for necessities.

The report highlights the stark difference between the current administration and the achievements of the previous Trump-Pence administration. Under Trump-Pence, small business optimism reached a 35-year high, and households saw an extra $3,100 annually due to the elimination of unnecessary regulations. The U.S. economy was thriving before the pandemic hit, thanks to pro-growth policies implemented by the previous administration.

However, the Biden administration has been rolling back many of these deregulatory actions, imposing new regulations and expanding the federal bureaucracy. Biden has already overturned three-quarters of Trump’s deregulatory actions and implemented over 209 Economically Significant Rules since taking office. This has led to a significant increase in federal employment and a projected cost of $10,000 per household in regulatory actions for 2022 alone.

The report warns that the Biden administration’s regulatory agenda could cost American taxpayers over $1 trillion over the next decade, diverting funds from essential expenses to government bureaucracy. With plans to end the Trump-Pence tax cuts and increase the corporate tax rate, critics fear that the economy will suffer further under Biden’s policies.

As American families struggle to make ends meet, the report underscores the need for a more balanced approach to regulation and economic management. The Biden administration’s focus on expanding government power at the expense of economic growth is raising concerns about the future of the American economy and the well-being of its citizens.