Experts are warning that President Donald Trump’s latest brutal cut could cost households a whopping $450 per year.
This is after the Trump administration revealed that it is moving towards shutting down a program known as Energy Star.
Through the program, which was first launched back in 1992, homeowners are able to save an average of $450 a year.
Energy Star offers consumers information about how much energy an appliance uses, meaning that you can shop around to find a more economical one before making a purchase.
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By buying products with an Energy Star rating, customers are also able to apply for rebates and tax credits of up to $3,200 a year.
However, this could all soon be coming to an end, according to reports.
According to a report from The Washington Post, sources in the Environmental Protection Agency have said that government officials from the Trump administration informed them that the program will end.
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Speaking to CNN, Paula Glover, who is the president of the nonprofit Alliance to Save Energy, said: “Eliminating the Energy Star program would directly contradict this administration’s promise to reduce household energy costs.
“For just $32 million a year, Energy Star helps American families save over $40 billion in annual energy costs. That’s a return of $350 for every federal dollar invested.”
If this goes ahead then it could mean that consumers will find it more difficult to work out which appliances are more energy efficient than others, and could end up being costly.
In other news, Trump’s import policies have faced backlash from top CEOs, who met with the president in the Oval Office.
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The group of three CEOs include executives from Walmart, Home Depot and Target, who attended the private meeting at the White House last month (April 21).
According to a report by Axios, they warned the president about the impact of his recent import tariffs, forewarning that it could lead to frozen supply chains, resulting in empty shelves.
The report claimed that an administration official familiar with the meeting said: “The big box CEOs flat out told him the prices aren’t going up, they’re steady right now, but they will go up.
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“And this wasn’t about food. But he was told that shelves will be empty.”
Trump’s announcements of new import tariffs sent the stock market into a meltdown last month but have since been put on a 90 day pause.