Trump plans new Cabinet position to reduce cost of living

Donald Trump announced Thursday that he will create a new Cabinet position and issue an executive order to lower the cost of living.

“On day one, I will sign an executive order directing every federal agency to immediately remove every single burdensome regulation that increases the cost of goods.” Trump said at his rally in Albuquerque, New Mexico.

“We have too many regulations that hurt our country.”

The new Cabinet position will be tasked with “doing everything in the power of the federal government to lower the cost of living,” Trump said.

He did not say who would fill that cabinet post.

Elon Musk was previously responsible for the government efficiency department, nicknamed DOGE, but Transition chair Howard Lutnick told CNN The Tesla CEO could not serve in a cabinet position because he would have to do the disinvestment.