FOR IMMEDIATE RELEASE 

May 13, 2026  

Contact: minority_jecpress@jec.senate.gov

 

JEC Ranking Member Hassan Releases Response to the Economic Report of the President 

Report Outlines the Ways in Which President Trump’s Policies Have Increased Daily Costs for American Families and Businesses 

WASHINGTON – Senator Maggie Hassan (D-NH), Ranking Member of the Joint Economic Committee, announced today the release of the Minority portion of the Committee’s annual response to the Economic Report of the President. The Committee is required by law to submit findings and recommendations in response to the Report, which is prepared and released each year by the Council of Economic Advisers (CEA).

The Minority response highlights the ways in which President Trump’s tariffs and other policy actions have forced hardworking families and businesses to pay more for necessities and created widespread economic uncertainty, while the President and Congressional Republicans’ “One Big Beautiful Bill” provides financial gains for the very wealthiest. The response also highlights bipartisan solutions that can undo some of the economic damage done by President Trump, bring relief to Americans, and make real progress on the cost-of-living emergency.

“Costs are far too high, and hinder Americans’ ability to build a better life for themselves and their children,” wrote Senator Hassan in the Minority response. “Yet while President Trump campaigned on a promise to lower costs and usher in a ‘golden age’ for the United States economy, the reality is that his actions have raised everyday costs and made it even harder for families to get by.”

The Minority response to the Report includes three chapters:

• Chapter 1: Trumps Tariffs Have Raised Prices for Families 
  • American Families Have Paid More Than $1,700 Each in Tariff Costs Since Trump Entered Office (Released in Feb. 2026)
  • New Parents Are Paying 24 Percent More for Five Common Baby Items Since Trump’s Tariffs (June 2025)
  • Families Paid $310 More for Groceries During Trump’s First Year in Office (January 2026)
  • State-by-State Cost Data: Families Spent Over $1,600 More in 2025 Due to Inflation Under Trump (January 2026)

• Chapter 2: Trump’s Tariffs Created Uncertainty That Harms U.S. Businesses 
  • Declining Canadian Tourism is Harming American Businesses in States Along the U.S.-Canada Border (December 2025)
  • Uncertainty From Trump’s Tariffs Derails U.S. Manufacturing in Both the Short and Long Term (August 2025)

• Chapter 3: Trump and Congressional Republicans’ “One Big Beautiful Bill” Hurts Working Families While Providing Windfalls for the Very Wealthiest
  • Tax and Tariff Impacts by Occupation and Income (June 2025)
  • Recent Clean Energy Programs Lower Costs for Families and Are Vital to U.S. Manufacturing, Jobs, and Energy Security (May 2025)
  • Medicaid – Especially Medicaid Expansion – Fuels Bipartisan Progress in Combating the Opioid Epidemic (April 2025)

The 2026 Minority response to the Economic Report of the President can be found here.

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