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Trump's tariffs will cost U.S. households SIX TIMES MORE than their average expected tax refund
https://apnews.com/article/tariffs-trump-investigations-trade-household-costs-2feaf769d770681dc95fef8dabd4f918Congressional Democrats say Trump’s tariffs will cost U.S. households more than ,500 this year — SIX TIMES MORE than their average expected tax refund increase.
— Jon Cooper (@joncooper-us.bsky.social) 2026-04-15T13:39:10.145Z
. . .
WASHINGTON (AP) — President Donald Trump is scrambling to replace the revenue the federal government lost when the Supreme Court struck down his biggest and boldest tariffs last month.
If the effort succeeds, congressional Democrats warn in a study out Friday, the administration’s import taxes will cost American households an average of $2,512 in 2026, up 44% from $1,745 in tariff costs last year. And this at a time when U.S. consumers are already angry over the high cost of living and the war with Iran is pushing up energy prices.
“Despite a Supreme Court ruling that much of Trump’s tariff agenda is illegal, the Trump administration refuses to provide relief for families,” said Sen. Maggie Hassan of New Hampshire, the top Democrat on the Joint Economic Committee. “As American families continue to struggle with high costs, the President keeps choosing to institute new tariffs that will push prices even higher.”
. . .
The report from Democrats on the Joint Economic Committee finds that the new tariffs will increase the burden on American households this year. That is partly because the tariff revenue would be collected for the full year; Trump needed time to impose tariffs in 2025 and occasionally suspended them.
The Democrats also assume that American households will absorb 100% of the tariff cost. They cite a Congressional Budget Office report concluding that importers can pass along 70% of the tariff costs to consumers. But the tariffs also allow domestic producers to raise prices — because of less competition from imports and increased demand for their tariff-free products. Combined, passed-along costs from importers and higher prices from domestic companies effectively mean that consumers end up footing the entire U.S. tariff bill, according to CBO.
WASHINGTON (AP) — President Donald Trump is scrambling to replace the revenue the federal government lost when the Supreme Court struck down his biggest and boldest tariffs last month.
If the effort succeeds, congressional Democrats warn in a study out Friday, the administration’s import taxes will cost American households an average of $2,512 in 2026, up 44% from $1,745 in tariff costs last year. And this at a time when U.S. consumers are already angry over the high cost of living and the war with Iran is pushing up energy prices.
“Despite a Supreme Court ruling that much of Trump’s tariff agenda is illegal, the Trump administration refuses to provide relief for families,” said Sen. Maggie Hassan of New Hampshire, the top Democrat on the Joint Economic Committee. “As American families continue to struggle with high costs, the President keeps choosing to institute new tariffs that will push prices even higher.”
. . .
The report from Democrats on the Joint Economic Committee finds that the new tariffs will increase the burden on American households this year. That is partly because the tariff revenue would be collected for the full year; Trump needed time to impose tariffs in 2025 and occasionally suspended them.
The Democrats also assume that American households will absorb 100% of the tariff cost. They cite a Congressional Budget Office report concluding that importers can pass along 70% of the tariff costs to consumers. But the tariffs also allow domestic producers to raise prices — because of less competition from imports and increased demand for their tariff-free products. Combined, passed-along costs from importers and higher prices from domestic companies effectively mean that consumers end up footing the entire U.S. tariff bill, according to CBO.
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