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While senators Chuck Schumer, D-N.Y., and Ben Ray Luján, D-N.M., cited economists' projections that President Donald Trump's tariffs volition outgo American families an other $5,000 per year, GOP Sen. John Kennedy, R-La., insisted, "We don't know," suggesting those who assertion they bash are making fools of themselves.
"I followed what each these economists are saying. Most of them marque these late-night psychic hotlines look respectable," Kennedy told Fox News Digital astatine the Capitol. "They don't cognize immoderate much than anybody else. We're successful uncharted waters here."
According to Schumer and Luján, Americans tin apt expect to spot costs rise capable to equate to a $5,000 per twelvemonth taxation connected American families.
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President Donald Trump holds a illustration arsenic helium delivers remarks connected reciprocal tariffs during a "Make America Wealthy Again" lawsuit successful the Rose Garden astatine the White House successful Washington, D.C., April 2, 2025. (Brendan Smialowski/AFP via Getty Images)
"When the mean American household sits down and tries to fig retired however they're going to wage for things, and they perceive they whitethorn wage $5,000 much than they've had to wage earlier — and they whitethorn not beryllium capable to bargain a caller car, they whitethorn not beryllium capable to enactment that caller cause that grandma needs, they whitethorn not beryllium capable to instrumentality that abrogation they were readying for a twelvemonth — they're going to beryllium outraged," Schumer told reporters.
"It's a immense taxation connected American families. All – all – to assistance billionaires get a taxation cut."
Luján seconded the sentiment from Schumer, pointing to the economists that Kennedy blasted arsenic little respectable than a "late-night psychic hotline."
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"There's nary question that the American radical are the ones that are going to beryllium paying the brunt of this," Luján argued. "The actuaries that person been putting retired reports and different economists are suggesting that this is going to beryllium a national income tax connected the American radical of astir 5,000 bucks year. That's conscionable not right.
"If the president would beryllium unfastened to utilizing targeted tariffs arsenic a instrumentality — thing that I'm unfastened to and I deliberation others are — that's 1 thing," Luján added. "But erstwhile he's arbitrarily conscionable going crossed the committee and trying to slap connected numbers … I'm precise acrophobic for my constituents that are going to beryllium paying retired of pocket."
Sen. Chuck Schumer, D-N.Y.; Sen. John Kennedy, R-La.; and Ben Ray Luján, D-N.M. (Gettty Images; Fox News)
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Kennedy argued specified projections had nary ground successful fact.
"The information is we don't know. These economists don't know," Kennedy insisted. "These are uncharted waters. We've not had these benignant of tariffs successful a agelong time. It whitethorn beryllium a nett positive. President Trump implemented tariffs successful his archetypal term. Didn't look to wounded the economy. It could beryllium a negative. All I'm saying is that successful Washington, D.C., for each economist, there's an adjacent and other economist, and they're usually some wrong."
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