Share

cover art for Tariffs Cost American Households $1,200

US News Today | 2 Min News | The Daily News Now!

Tariffs Cost American Households $1,200

New figures reveal that import taxes have cost the average American household nearly $1,200 since the current administration took office. This calculation, based on Treasury Department revenue numbers and estimates from Goldman Sachs, shows that American consumers have collectively paid almost $159 billion due to these tariffs. Senator Maggie Hassan of New Hampshire, the leading Democrat on the committee, stated that these tariffs have only driven prices higher for families. The president argues that these import taxes protect American industries and generate revenue, but economists describe these tariffs as the largest tax increase on American consumers in a generation, ultimately lowering the standard of living for all Americans.

The Daily News Now! - Every city. Every story. AI Powered.

More episodes

View all episodes

  • Illinois Passes Physician-Assisted Suicide Law

    01:57|
    Illinois Governor JB Pritzker signed a new law allowing physician-assisted suicide for terminally ill patients, making Illinois the twelfth state to enact such legislation. Known as Debs Law, the measure permits doctors to prescribe lethal medication for eligible patients. The law, set to take effect in September, requires patients to have a terminal illness with a six-month prognosis, be mentally capable, and fully informed about end-of-life care options. Governor Pritzker was moved by stories of terminally ill residents, emphasizing the laws role in reducing pain and suffering. Supporters view it as an expansion of patient choice, while opponents, including religious groups, argue it fails to address palliative care gaps and may lead to coercion and cost-driven decisions.
  • GOP Proposes New Healthcare Plan, ACA Subsidies Removed

    02:00|
    House Republicans unveil new healthcare plan, aiming to lower premiums by expanding Health Savings Accounts and introducing association health plans. The proposal also targets pharmacy benefit managers, seeking to increase transparency and support independent pharmacies. Meanwhile, the Senate fails to progress on healthcare, with a bill to extend ACA tax credits rejected, potentially leading to higher costs for millions of Americans.
  • Treasury Targets Money Wire Services in Somalia

    01:48|
    The Treasury Department, under Secretary Scott Bessent, is intensifying investigations into businesses facilitating international money transfers, particularly within Minnesotas Somali community. This move is part of a broader crackdown on fraud, spurred by cases like the alleged $300 million theft from a non-profit providing school meals. The administration accuses Minnesota of being a hotspot for fraudulent money laundering. Secretary Bessent also cited a City Journal report suggesting taxpayer funds from defrauded programs may be funding al-Shabab, a terrorist group. However, these claims remain unproven. The Treasury will soon issue an order requiring extra verification for money wire services sending funds to Somalia, with the Financial Crimes Enforcement Network and IRS assisting.
  • Maduro's Defiant Stance: 'Smash Teeth' of US Empire

    02:02|
    Venezuelan President Nicolas Maduro, amidst escalating tensions with the U.S., delivered a fiery speech, singing and dancing, while holding a national symbol. He accused the U.S. of destabilizing Venezuela and seizing an oil tanker, vowing to secure vessels for global oil trade. The U.S., in response, tightened sanctions, stepped up maritime enforcement, and offered a reward for Maduros arrest.
  • Trump's Influence Unshaken: Johnson on Indiana Redistricting

    01:46|
    House Speaker Mike Johnson dismissed the impact of a failed redistricting plan in Indiana, supported by Trump, on his political influence. Johnson asserted Trumps enduring power, downplaying the significance of the rejected plan and denying Trumps pressure on its passage.
  • DOJ Sues Fulton County Over 2020 Election Records

    02:10|
    The Department of Justice has accused Fulton County, Georgia, of withholding ballots from the 2020 election, citing federal law violations. The lawsuit also targets Colorado, Hawaii, Massachusetts, and Nevada for allegedly failing to provide statewide voter registration lists. The DOJ aims to ensure election integrity and prevent vote dilution. Fulton Countys clerk, Che Alexander, has not commented on the matter, while the county commission chairman criticizes the ongoing focus on the 2020 election.
  • Democrat's Miami Victory: A Blueprint for Affordability?

    01:55|
    Miamis New Mayor: A Democratic Victory and Affordability Focus - Democrats celebrate a mayoral win in Miami, with Eileen Higgins becoming the first Democrat in nearly 30 years. Higgins campaign focused on affordability issues, resonating with voters. The win is seen as a potential blueprint for midterm elections, with Democrats emphasizing their commitment to middle-class and working-class families. Higgins plans to tackle Miamis affordability crisis by building more affordable housing and improving city efficiency.
  • Tourist Stabbed in Macy's NYC, Fights Back

    01:31|
    A tourist from California was stabbed in a Macys restroom, but fought back and apprehended her attacker, a woman from Massachusetts. The victim, a sheriffs deputy, is recovering in the hospital. The incident raises questions about security in public spaces.
  • Trump's AI Order Sparks State-Federal Clash

    01:59|
    President Trumps executive order on AI regulation sparks legal battles, as states move forward with their own laws. The order aims to curb state-level regulation, but some states, both Republican and Democrat-led, claim the administration is overstepping its authority. Legal experts note that only Congress can formally override state laws, highlighting the need for a clear, bipartisan national AI framework.