Congressmember Nydia M. Velazquez denounces President Trump's 25% tariffs on Canada and Mexico, asserting they harm American families and small businesses. Calling the tariffs a tax hike, she warns they will increase costs by about $800 in 2025, disproportionately affecting lower-income households. Velazquez argues that these tariffs hinder the possibility of homeownership and hurt the economy amidst rising construction costs. Furthermore, she contrasts these policies with Democratic efforts like the Inflation Reduction Act and the CHIPS and Science Act, which aim to support families and revitalize manufacturing.
"The tariffs will increase costs by an estimated $800 in 2025 alone, further burdening lower-income families who spend a larger share of their income on goods subject to these tariffs."
"These broad, senseless tariffs will not fight inflation, but rather drive up costs for the American people while harming the economy and moving homeownership further out of reach for millions."
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