Senator Chuck Schumer and Ben Ray Luján (Dn.M.) of Dn.Y. cited economists’ predictions that President Donald Trump’s tariffs would cost $5,000 a year, but GOP Senator John Kennedy, R-la.
“I followed all these economists saying, and most of them make these late-night psychic hotlines look great,” Kennedy told Capitol’s Fox News Digital. “They know more than anyone else. We are here in the unknown ocean.”
According to Schumer and Luján, Americans can probably expect a cost increase that is sufficient to amount to a $5,000 annual tax on American families.
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President Donald Trump keeps the charts when making mutual tariff remarks during the “American Wealthy Again” event at the Rose Garden at the White House in Washington, DC on April 2, 2025.
“When the average American family sits down and tries to figure out how to pay for things and hear they might pay $5,000 more than they had to pay before, and they may not be able to buy a new car, they may not be able to support the new medicines their grandma needs, they may not be able to plan for the whole year – they attacked.
“It’s a big tax on American families. Everything – everything – to help billionaires get tax cuts.”
Luhan supported the sentiment from Schumer, directing economists that he blew Kennedy out of respect for him than the “late night psychic hotline.”
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“There’s no doubt that the American people pay for this,” Luhan insisted. “Actuaries and other economists publishing the report suggest that this would be a national sales tax for Americans of about $5,000 a year. That’s not true.
“If the president is open to using target tariffs as a tool, it’s something I’m open and I think others are – that’s one thing,” Lujan added. “But when he is arbitrarily trying to slap numbers across the board… I’m very worried about my constituents paying out of my pocket.”
Senator Chuck Schumer, DN.Y. ; Senator John Kennedy, R-LA. Ben Ray Luhan, DN.M. (Gettty Images; Fox News)
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Kennedy argued that such predictions were in fact unfounded.
“The truth is that we don’t know. These economists don’t know,” Kennedy insisted. “These are unknown waters. We have not had this kind of tariff for a long time. It may be net positive. President Trump implemented tariffs in his first term. It appears that it didn’t hurt the economy. It’s negative.
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