Overview
- The Joint Economic Committee now pegs the average 2026 household cost at more than $2,500, a 43% jump from last year’s $1,745, using January revenue as a baseline that holds only if current levels persist.
- After the Supreme Court struck down much of the initial tariff agenda, the administration rolled out a Plan B that includes a temporary 10% universal tariff and it has floated a rise to 15% that is not yet in effect.
- Treasury Secretary Scott Bessent defended the reworked approach and said tariff revenue in 2026 would be virtually unchanged.
- Research from the New York Fed and Yale finds U.S. importers pay tariffs at the border and pass most of the cost to buyers, with lower‑income households losing a larger share of their take‑home pay.
- Other estimates are far lower than the JEC figure, with Yale’s Budget Lab near $570 and some coverage citing about $600, reflecting different methods, time frames, and what each study counts.