“Tariffs could cost families over $2,500” - Democrats' Bills in Congress: 44% more than a year ago
President Donald Trump is trying to replace lost federal revenue after the Supreme Court struck down his biggest tariffs last month.
A study released Friday by congressional Democrats says the administration's import taxes could cost American families an average of $2,512 in 2026 - up 44% from $1,745 last year.
The increase comes at a time when American consumers are already grappling with the high cost of living and rising energy prices linked to the war in Iran.
According to Democrats, while American families face high costs, the President continues to choose to impose new tariffs that will raise prices even further.”
Meanwhile, the White House dismissed the report as "false," and stated that "President Trump will continue to use tariffs to renegotiate trade agreements, lower drug prices, and secure trillions of dollars in investment for the American people."
Last year, Trump invoked the International Emergency Economic Powers Act of 1977 to impose double-digit tariffs on nearly every country in the world. But the Supreme Court ruled on Feb. 20 that the law did not give the president the authority to impose tariffs. The government must now reimburse importers who paid the tariffs, an amount expected to total about $175 billion.
The administration has since moved quickly to impose new taxes. Treasury Secretary Scott Bessent has said the measures will leave revenue from tariffs “virtually unchanged” through 2026.
Democrats say families bear the full cost of tariffs. They cite analysis by the Congressional Budget Office that shows importers pass on most of the costs of tariffs to consumers, while domestic producers can also raise prices because of reduced foreign competition.
The renewed push for tariffs comes at a time when the war in Iran is driving up gasoline and commodity prices ahead of November's midterm elections, adding pressure on voters who are already frustrated by high living costs.
Over 20 measures for energy efficiency - Heating and cooling of buildings, about 33% of final energy consumption in the country
The implementation of over 20 measures to improve energy efficiency in heating and cooling of buildings requires around 4.7 million euros by 2030, while real......
Where does Albania stand on the employment map in Europe? - We lead the region with 68.9%, but still below the EU average
The employment rate is one of the most important economic and social indicators. According to INSTAT data, the employment rate in Albania reached 68.9% for......
Oil risks "freezing" wages - Analysis/ High prices, pressure on businesses
The increase in oil prices in early March 2026 has brought a shock wave to transportation and production costs, exerting direct pressure on the prices of......
Joint exercise RENEA-EKAM/ Lamallari: Albania-Greece cooperation is key to regional security
The Minister of Internal Affairs, Besfort Lamallari, participated in the ceremony marking the end of the joint training between the special forces of the......
The state enters the oil market to curb prices - Rama: We will create a public factor to ease the burden of citizens
The state will intervene to regulate the oil market, given the increase in prices due to the conflict in the Middle East. In a press conference, Prime......
OSHEE Group increases salaries for field workers and electrical engineers
OSHEE Group sh.a. has taken a new step in support of energy sector professionals, by increasing salaries for field workers and electrical engineers at the......
The decision on Balluk's immunity does not hinder the EU accession process
During a press conference, Prime Minister Edi Rama stated that yesterday's Parliament decision on Balluk's immunity does not hinder the EU membership......
Only 3% of small businesses export/ Albanian enterprises remain mainly oriented towards the domestic market
Small and medium-sized enterprises continue to hold the main weight of the Albanian economy. According to data published by the Institute of Statistics, in......
