President Trump asserted on Monday that his administration has successfully lowered prices to the extent that Democrats have ceased using the term "affordability."
During the annual House Republican retreat in Miami, Trump remarked, "They also gave us very high prices and then they said the word, ‘affordability.’ That’s the first time I ever heard it."
He continued, "My first day in office, they said, ‘affordability.’ They’re the ones that caused the problem. But we’re really bringing down prices big."
Addressing the Republican Members Issues Conference on March 9, 2026, Trump highlighted, "Do you notice you don’t hear that word anymore? … They don’t say it anymore because we brought down prices so much."
Trump emphasized that the GOP's message for the upcoming midterm elections should be straightforward: "Democrats created the high prices and our policies are totally ending them."
Following joint US-Israeli strikes on Iran resulting in the death of Supreme Leader Ayatollah Ali Khamenei and several senior officials, as well as the destruction of Tehran’s ballistic missile and drone capabilities, gas prices surged. Iran retaliated with attacks on Israel and neighboring Persian Gulf countries, leading to the closure of the Strait of Hormuz.
Nearly 20% of the world’s oil supply transits through this vital channel. Trump has pledged to ensure the uninterrupted flow of oil by potentially deploying US ships to escort tankers.
During a news conference, Trump hinted at easing sanctions on certain countries to drive prices down, stating, "I will not allow a terrorist regime to hold the world hostage." He touted America's military actions, claiming to have decimated a significant portion of Iran's naval fleet and launchers for missiles and drones.
The disruption in the supply chain caused oil prices to surpass $100 per barrel for the first time since the inflation peak in mid-2022, although they slightly decreased by Monday afternoon.
Trump delivered these remarks while participating in the annual House GOP conference with over 100 lawmakers at his Doral golf resort. House Speaker Mike Johnson (R-La.) and other Republican leaders are contemplating passing additional legislation through Congress via budget reconciliation after the approval of Trump's major tax and spending bill, the One Big Beautiful Bill Act.
Encouraging the House GOP conference to take further action, Trump threatened to disregard all other congressional legislation until the passage of the Save America Act, which includes a voter ID requirement.
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