Car insurance rates rose 55% under the Biden administration, according to data from the Bureau of Labor Statistics, partly due to its immigration policies, reported Breitbart.
New migrant drivers are behind the wheel "often without driver training or English language lessons," the news outlet noted.
The cost of insurance when Biden took office in January 2021 was $551.55, compared with $845.30 in August 2024.
The Associated Press in April reported that premium costs have been marching steadily higher since 2022, even as inflation at the consumer level steadily cooled from its 9.1% peak in the middle of that year. Consumers have had some relief as the rate of cost increases for food and energy, two key components of most budgets, has eased greatly.
But auto insurance and car ownership costs have become a sticking point for consumers and the Federal Reserve in its battle to rein inflation back to its goal of 2%.
New vehicle prices starting spiking during the pandemic, mainly because of a worldwide shortage of computer chips amid production cuts and supply chain bottlenecks. Dealers spent much of 2021 with few or no cars in stock.
Information from The Associated Press was used in this report.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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