A report from the Tax Foundation found that tariffs under President Trump cost the average American household $1,000 in 2025. That number is expected to climb to $1,300 this year.
What’s happening: The Tax Foundation, a non-partisan research group, released findings on how much President Trump’s tariffs have cost American households. Georgia U.S. Senator Raphael Warnock, a top Democrat on the Senate Finance subcommittee that handles tariff policy, put out a statement about the report.
Warnock called the tariff costs “the largest tax increase for working families in over 30 years.”
Warnock’s response: Warnock said: “President Trump’s tariffs are a tax that cost working Americans $1,000 last year. Despite the President’s promise that these tariff taxes would lead to a manufacturing boom, our country lost over 72,000 manufacturing jobs last year. While American families tightened their budgets, President Trump gave tariff waivers to his wealthy friends who could afford to party at Mar-a-Lago.”
He also said: “Let me make it plain: The President isn’t looking out for you or your family.”
What happens next: Warnock serves as a top Democrat on the Senate Finance subcommittee with jurisdiction over tariffs. No hearing or specific legislative action was announced with the statement.
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