Voters Put Trump In Power To Lower Prices, Now They Want Him To Deliver | Global News Avenue

Voter anger over inflation propelled Donald Trump to the White House, and now a new survey shows those same voters want him to take action to lower prices.

Among voters asked what Trump’s top priority should be, “lowering prescription drug costs” was the most popular choice, according to a Morning Consult poll released Tuesday. The survey was conducted days after Trump’s Nov. 5 election victory.

Lowering prescription drug costs comes before “improving America’s infrastructure” and “immigration reform.”

It wouldn’t be the first time Trump takes action on drug prices. Trump took several steps during his first term to lower the cost of prescription drugs.

For example, a 2020 executive order would require Medicare, the government insurance program for older Americans, to pay for certain drugs the same as they would abroad. A federal court blocked the measure before it could take effect, and Joe Biden’s administration later withdrew the measure.

Prescription drug prices for Medicare beneficiaries could fall even if Trump takes no action. A law signed by Biden allows Medicare to negotiate prices with drug companies. The lower prices negotiated under the 2022 law will take effect in 2026, although only 10 specific drugs.

What about other prices?

Prescription drug prices aren’t the only inflation issue voters want Trump to address.

Consumer prices surged starting in late 2021 as the economy recovered from the pandemic. While price increases have since moved closer to pre-pandemic levels, most prices remain well above Trump-era averages.

An economist at Oxford Economics said this reality may have doomed the Democrats in the 2024 election. The Oxford model predicts Republicans will ride the wave of anger over inflation to win the presidential election.

“Democrats are likely destined to lose the 2024 presidential race, and Vice President Kamala Harris will only win if deflation persists in recent years,” wrote Bernard Yarrow, chief U.S. economist at Oxford University. Have a chance to win.”

Will Trump ease inflation?

Policies proposed by Trump on the campaign trail include tariff and mass deportations-risk make inflation worseRather than reducing it, in the view of most mainstream economists.

Unfortunately for voters demanding significant price drops, this has historically only occurred during difficult economic times, such as the Great Depression. Congress gave the Federal Reserve the task of managing inflation, Try to keep inflation at 2% year instead of declining.