#household-impact

#household-impact

A new report from the Tax Foundation, a nonpartisan think tank, found that the average tariff burden for U.S. households was $1,000 in 2025 and is expected to grow to $1,300 this year, effectively cancelling out any benefit from the tax cut and falling short of paying for them. Tariffs will raise a net $1.9 trillion between 2025 and 2034, the Tax Foundation estimates, but the cuts will reduce revenue by $4.1 trillion.