WASHINGTON – Congressman Byron Donalds (R-FL) joined Fox Across America with Jimmy Failla on Fox News Radio to discuss the Trump administration rolling back fuel economy standards and the investment into future generations of Americans through 'Trump Accounts.'
Watch the full interview here.
"So, what the president did yesterday, which is something that needed to happen a decade ago, repealing some of these crazy Biden standards so they're not going to have to go re-engineer all the cars again, which is actually going to make car prices cheaper in America for consumers. Simple stuff but smart policy":
"Yeah, that's correct. So what they did is they rolled back the fuel efficiency standards. They're called CAFE (Corporate Average Fuel Economy) standards. And so, you know how like it seems like every couple of years the mileage on a car gets better. And they say that's to help the environment, but what happens every time you change the mileage standards [is] the car companies have to go re-engineer the engines in the cars in order to meet the new standards. And every time they re-engineer it, it costs money to re-engineer, so they pass that cost onto the consumer. So, what the president did yesterday, which is something that needed to happen a decade ago, repealing some of these crazy Biden standards so they're not going to have to go re-engineer all the cars again, which is actually going to make car prices cheaper in America for consumers. Simple stuff but smart policy."
"It'll continue to grow, be a nest egg for these young kids, and things are going to work out in America":
"Yeah, that's the way it works. And so look, if they're donating it, that's awesome, that's great for them, and it's probably going to be great for a lot of kids in America going forward. What it does [is] it puts money into investments early, and then you let time value of money take over. If the parents decide they want to continue to add to the account, great! It'll continue to grow, be a nest egg for these young kids, and things are going to work out in America."
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