Former President Donald Trump vowed that if elected president, he would cut energy prices “in half” within a year of taking office.
During a town hall event in Oaks, Pennsylvania, on Monday, Trump told the crowd that he would “bring down” the cost of energy by 50 percent during his first year in office.
Trump added that the United States has “so much energy” that is not being used, noting that the U.S. is getting “energy from Venezuela.”
“And, when we get everything else down — houses — everything’s going to come, it’s going to be beautiful. You’re going to have a house,” Trump told the crowd. “Just wait a little while, give me a little while, let me get in. One year from January 20th, we will have your energy prices cut in half all over the country.”
Trump has previously vowed that if elected president, his administration would cut energy and electricity prices in half “within twelve months,” adding that at a “maximum,” it would be 18 months.
A report from S&P Global in July 2024 found that “between 2018 and 2023,” the electricity prices for households in the United States increased by 21.9 percent.
States such as California, Connecticut, Massachusetts, Maine, and New Hampshire saw the highest increase in energy prices during this period.