{"id":1053776,"date":"2025-06-27T18:59:01","date_gmt":"2025-06-27T22:59:01","guid":{"rendered":"https:\/\/democrats.org\/?p=1053776"},"modified":"2025-06-27T18:59:02","modified_gmt":"2025-06-27T22:59:02","slug":"new-report-trumps-unaffordable-agenda-continues-to-raise-prices-on-working-families","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-report-trumps-unaffordable-agenda-continues-to-raise-prices-on-working-families\/","title":{"rendered":"NEW REPORT: Trump\u2019s Unaffordable Agenda Continues To Raise Prices on Working Families\u00a0"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to the latest Personal Consumption Expenditures price index <\/em>report<\/em><\/a>, <\/em>DNC Communications Director Rosemary Boeglin released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cAmericans are paying more in Trump\u2019s America. Despite promising to lower costs on Day One, working families are still being forced to cut back spending to survive increasingly higher costs, and working families are bracing for recession. The only Americans whose bank accounts are getting bigger are the billionaires.\u201d  <\/p>\n\n\n\n

NEW REPORT: Six months into his presidency, Donald Trump is failing to get inflation under control as his disastrous economic agenda continues to raise prices \u2014 all while the economy shrinks. <\/strong><\/p>\n\n\n\n

U.S. Bureau of Economic Analysis<\/a>: \u201cPersonal income decreased $109.6 billion <\/strong>(0.4 percent at a monthly rate) in May, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income<\/strong> (DPI)\u2014personal income less personal current taxes\u2014decreased $125.0 billion <\/strong>(0.6 percent) and personal consumption expenditures (PCE) decreased $29.3 billion (0.1 percent). \u2026<\/strong><\/p>\n\n\n\n

\u201cPCE price index for May increased 0.1 percent<\/strong>. Excluding food and energy, the PCE price index increased 0.2 percent.\u201d <\/p>\n\n\n\n

CNBC<\/a>: \u201cCore inflation rate rose to 2.7% in May, more than expected, <\/strong>Fed\u2019s preferred gauge shows\u201d<\/p>\n\n\n\n

Associated Press<\/a>: \u201cUS economy shrank 0.5% in the first quarter<\/strong>, worse than earlier estimates had revealed\u201d <\/p>\n\n\n\n

Americans are already struggling to keep up with rising costs, and economists are warning that Trump\u2019s failed agenda will make things more expensive. <\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201c[I]nflation<\/strong> is expected to accelerate<\/strong> in the coming months on the back of the Trump administration\u2019s import tariffs \u2026\u201d<\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201cUS consumer confidence weakens on job market worries\u201d <\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cThe median home sale price in the U.S. just touched a record high \u2026 <\/strong><\/p>\n\n\n\n

\u201cThe median sale price hit a record $396,500 <\/strong>for the four weeks ending June 15, or a 1% increase from a year earlier,<\/strong> according to a Friday report from Redfin. \u2026 <\/p>\n\n\n\n

\u201cAmericans are increasingly finding themselves squeezed out of the housing market,<\/strong> as mortgage rates remain high and the inventory of affordable homes remains low. As a result, the dream of home ownership, which is a meaningful way to build wealth, is becoming more distant for large swaths of the population.\u201d <\/strong><\/p>\n\n\n\n

Associated Press<\/a>: \u201cAmericans sour on US economy<\/strong> and anxiety over tariffs remains the chief culprit\u201d<\/p>\n\n\n\n

NY Post<\/a>: \u201cTrump voters get smacked by inflation in shopping aisles \u2014 and some blame tariffs\u201d<\/strong><\/p>\n\n\n\n

CBS<\/a>: \u201cMost Americans can’t afford a $1,000 emergency expense, report finds\u201d<\/strong><\/p>\n\n\n\n

Business Insider<\/a>: \u201cBig purchases? In this economy? Americans are scared stiff of financial risks\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cFederal Reserve Governor Michael Barr said he anticipates tariffs will drive up inflation <\/strong>and expressed support for a wait-and-see approach to interest-rate adjustments. \u2026<\/p>\n\n\n\n

\u201cBarr said [Trump\u2019s] levies may cause the economy to slow and unemployment to rise \u2026\u201d<\/strong> <\/p>\n\n\n\n

Federal Reserve Bank of Richmond<\/a>: \u201cRecord Concern about Tariffs Expected to Increase Costs and Prices, Reduce Hiring and Investment\u201d <\/strong><\/p>\n\n\n\n

Instead of lowering costs, Trump is pushing his billionaire-first budget that will line the pockets of the ultra-wealthy, worsen inflation, and explode the deficit. <\/strong><\/p>\n\n\n\n

Washington Center for Equitable Growth<\/a>: \u201c<\/strong>Congressional Republicans\u2019 budget bill is the most regressive in at least 40 years\u201d<\/strong>
<\/strong>
<\/strong>\u201cIf enacted, our calculations show that the current [Trump budget] bill would reduce income among the poorest 20 percent of Americans by an average of 3.8 percent while increasing it by 3.7 percent for the richest 20 percent<\/strong>\u2014a difference of 7.5 percentage points.\u201d<\/p>\n\n\n\n

USA Today<\/a>: \u201cLow-income families would lose, wealthier ones would gain under GOP tax proposals\u201d <\/strong><\/p>\n\n\n\n

\u201cLow-income families stand to lose hundreds if not thousands of dollars in income while wealthy ones will gain even more<\/strong>, according to a new analysis of Congressional Republican tax and budget proposals. \u2026 <\/p>\n\n\n\n

\u201cIn comparison, families with higher incomes would benefit<\/strong> from the extension of the 2017 tax cuts.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cGOP bill could worsen inflation and lead to financial crisis, economists warn\u201d<\/strong><\/p>\n\n\n\n

ABC<\/a>: <\/strong>\u201cThe \u2018One Big Beautiful Bill Act\u2019 … could add $2.4 trillion to the deficit<\/strong> over the next decade, according to a new analysis out Wednesday from the nonpartisan Congressional Budget Office.\u201d <\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cBudget bill would add trillions to U.S. debt and increase inequality, Nobel laureate economists say\u201d  <\/strong><\/p>\n\n\n\n

Yale Budget Lab<\/a>: \u201cIn the long run, real GDP growth slows because of the debt load from the One Big Beautiful Bill Act (OBBBA) that raises interest rates and results in crowding out.\u201d<\/strong>  <\/p>\n\n\n\n

Financial Times<\/a>: \u201cSenior Federal Reserve official puts \u201850-50\u2019 odds on tariffs sparking sustained US inflation\u201d<\/strong> <\/p>\n\n\n\n

\u201cSt Louis Fed president Alberto Musalem told the Financial Times that while Trump\u2019s levies could boost inflation for \u2018a quarter or two,\u2019 there was \u2018an equally likely scenario where the impact of tariffs on prices could last longer.\u2019\u201d <\/p>\n\n\n\n

###<\/p>\n","protected":false},"excerpt":{"rendered":"

In response to the latest Personal Consumption Expenditures price index report, DNC Communications Director Rosemary Boeglin released the following statement: \u201cAmericans are paying more in Trump\u2019s America. Despite promising to lower costs on Day One, working families are still being forced to cut back spending to survive increasingly higher costs, and working families are bracing […]<\/p>\n","protected":false},"author":293,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1053776","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW REPORT: Trump\u2019s Unaffordable Agenda Continues To Raise Prices on Working Families\u00a0 - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-report-trumps-unaffordable-agenda-continues-to-raise-prices-on-working-families\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-27T22:59:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-27T22:59:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Shelby Reese\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shelby Reese\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-report-trumps-unaffordable-agenda-continues-to-raise-prices-on-working-families\/\",\"url\":\"https:\/\/democrats.org\/news\/new-report-trumps-unaffordable-agenda-continues-to-raise-prices-on-working-families\/\",\"name\":\"NEW REPORT: Trump\u2019s Unaffordable Agenda Continues To Raise Prices on Working Families\u00a0 - 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