{"id":22311,"date":"2025-06-04T14:44:52","date_gmt":"2025-06-04T18:44:52","guid":{"rendered":"https:\/\/www.merkley.senate.gov\/?p=22311"},"modified":"2026-01-28T16:33:47","modified_gmt":"2026-01-28T21:33:47","slug":"trump-tariffs-will-hurt-economic-growth-boost-inflation-raise-costs-to-families-cbo-finds","status":"publish","type":"post","link":"https:\/\/www.merkley.senate.gov\/es\/trump-tariffs-will-hurt-economic-growth-boost-inflation-raise-costs-to-families-cbo-finds\/","title":{"rendered":"Trump Tariffs Will Hurt Economic Growth, Boost Inflation, Raise Costs to Families, CBO Finds"},"content":{"rendered":"

Non-partisan Analysis Requested by Merkley, Schumer, and Wyden Finds Trump Tariffs Amount to a Regressive $2.5 Trillion Tax Hike<\/em><\/strong><\/p>\n\n\n\n

WASHINGTON, D.C. \u2013 If the Trump tariffs remain in effect \u2013 in spite of a recent court ruling that they are illegal \u2013 they will slow economic growth, boost inflation, and hurt working- and middle-class families, according to a new analysis from the non-partisan Congressional Budget Office (CBO). The analysis was requested by Senate Budget Committee Ranking Member Jeff Merkley (D-OR), Senate Democratic Leader Chuck Schumer (D-NY), and Senate Finance Committee Ranking Member Ron Wyden (D-OR).<\/p>\n\n\n\n

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\u201cTrump is betraying the people who bought his lie that he would bring down prices,\u201d <\/strong>said Budget Committee Ranking Member Jeff Merkley. \u201cInstead, as this analysis makes clear, Trump is doing all he can to make products that families need more expensive, even as Republicans in Congress are working to pass his \u2018Big, Ugly Bill\u2019 that will leave millions without health care and millions of children hungry to fund tax giveaways for the wealthiest Americans. As always with Trump, it\u2019s families lose, billionaires win.\u201d<\/strong><\/p>\n<\/blockquote>\n\n\n\n

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\u201cThe report by the non-partisan Congressional Budget Office shows what American consumers are already feeling: Trump\u2019s chaotic trade war drives up prices, hurts America\u2019s economic stability, and creates mayhem for families and small businesses. Trump\u2019s tariffs are nothing more than a tax on the American people. Yet, Trump \u2013 despite the chaos, the hurt felt by businesses and consumers \u2013 is digging in his heels. It\u2019s beyond time for Senate Republicans to stand up to Trump and work with Senate Democrats to pass legislation that would stop this nonsense and economic devastation,\u201d <\/strong>said Senate Democratic Leader Chuck Schumer.<\/p>\n<\/blockquote>\n\n\n\n

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\u201cIt\u2019s not enough for Trump and Republicans to kick families off of their health care and take food off of their tables \u2013 he\u2019s trying to pay for it with an unprecedented level of tariffs on the things people buy,\u201d<\/strong> said Finance Committee Ranking Member Ron Wyden. \u201cCBO\u2019s analysis shows Trump is going to make Americans pay trillions in new taxes on groceries, cars, beer \u2013 almost everything we buy from other countries \u2013 and make it even harder for families to afford the essentials they need.\u201d<\/strong><\/p>\n<\/blockquote>\n\n\n\n

Among the report\u2019s findings, CBO concluded that:<\/p>\n\n\n\n