FOR IMMEDIATE RELEASE
July 2, 2026
Contact: minority_jecpress@jec.senate.gov
NEW DATA: Trump’s Tax and Tariff Actions Cost Middle Class Families Hundreds of Dollars in 2026
WASHINGTON – Ahead of the one-year anniversary of when President Trump signed into law the so-called One Big Beautiful Bill, a new Joint Economic Committee - Minority report issued today finds that middle class workers will lose hundreds of dollars in 2026 from the combined impact of the bill and Trump’s tariffs, while the wealthiest Americans receive massive windfalls. The report also includes new calculations on the combined impact of Trump’s tax and tariff policies for specific middle class jobs.
“President Trump promised to lower costs, but instead, working families continue to pay higher prices for everyday essentials while billionaires and corporate special interests get massive windfalls,” said Senator Maggie Hassan (D-NH), Ranking Member of the Joint Economic Committee. “The people who keep our communities running – including teachers, fire fighters, truck drivers, and many more – all deserve lower costs and greater economic security, not President Trump’s agenda, which forces families to pay more while those at the top get further ahead.”
Key findings from the Committee report show that in 2026, under Trump’s tax and tariff policies:
- Security guards will lose about $890
- Home health aides and nursing assistants will lose nearly $860
- Grade school teachers will lose about $280
- Both fire fighters and truck drives will lose about $270
- Even after accounting for tariffs, the One Big Beautiful Bill will give the average member of the top 0.1% of earners an approximate $200,000 tax break for 2026
Read the full Joint Economic Committee - Minority report here.
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