ICYMI: The Cost of Largest Tax Increase In Decades for Arizonans

Tax Increases Will Be Used to Fund Tax Breaks for the Wealthy

PHOENIX — President Trump imposed the largest tax increase on American consumers in decades on Tuesday, with the goal of using the extra revenue to cut taxes for the ultra-rich and big corporations.

The tax increase comes in the form of tariffs on all kinds of consumer necessities coming from Canada, Mexico and China, and their impact will be felt across the country.

According to CNN:

Agricultural products from Mexico and Canada, in particular, could become more expensive for consumers, as grocery retailers operate on thinner profit margins than most industries. With little room to absorb higher tariff costs, the grocers may have to pass them on to shoppers.

And on top of the tariffs on Mexico, Canada and China, Trump also on Monday floated a separate tariff on agricultural imports, which could further increase the price of foods coming from these countries and worldwide.

Consumer electronics are among the top goods the US imported from China last year, according to federal trade data. That includes cellphones, TVs, laptops, video game consoles, monitors and all the components that power them.

The cost of producing cars throughout North America will rise between $3,500 and $12,000, according to analysis of both public and private data by the Anderson Economic Group, a Michigan-based think tank. And because it won’t make sense to make some of the models at those higher costs, particularly cars with cheaper option packages, there are likely to be cutbacks in production, and jobs, across the industry, said Patrick Anderson, the group’s CEO.

“Congressmen David Schweikert and Juan Ciscomani said they would work to lower costs for Arizonans, but they’re silent as President Trump’s tariffs stand to raise costs on all of us, in order to give tax breaks to big business and billionaires,” said Andrea Moreno, Executive Director for Honest Arizona. “Schweikert and Ciscomani need to stand up to Trump’s tariffs and work to lower costs for Arizonans instead of supporting bills that will cut taxes for the wealthiest at the expense of working Arizonans.”

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