Target: Mike Johnson, Speaker of U.S. House of Representatives
Goal: Limit power of president to impose tariffs that ultimately cost American consumers.
Economics was a major driver in the presidential election, and Americans expressed particular concern about the high cost of living. The president-elect has promised much lower costs. But one of his top proposals could place that resolution in serious jeopardy.
At his rallies, Donald Trump often referred to tariff as “the most beautiful word in the dictionary.” He vowed to impose a tariff of up to 20 percent on all foreign imports, as well as a 60-plus percent tariff on Chinese goods. But economic analysts from all political ideologies have raised alarm bells about the potential for these policies to exert even more of an economic burden. According to these analysts, household costs would rise by anywhere from $1,600 to $6,000 annually. And after-tax annual income could also decrease by thousands of dollars, as importers pass on the cost of these taxes to average Americans.
These forecasts do have some precedent. During Trump’s last presidential term, he launched a trade war and imposed tariffs on various products, like steel. According to the Tax Center, as a consequence Americans were levied a total of 80 billion dollars in additional taxes. Since economic policies often take years to play out in the lived economy, the effect of these policies is still being felt today.
If the president-elect extends these damaging tariffs to all imports, the effect could be economically catastrophic. Sign the petition below to help avert this potential economic cliff.
PETITION LETTER:
Dear Speaker Johnson,
An increasing number of major retailers are threatening to raise prices on consumers if widespread tariffs are imposed. Hedge fund managers are warning of corporate welfare. And if you don’t believe in predictions and warnings, just look to the past.
The 2018 tariffs resulted in tens of billions of dollars in new taxes for Americans, billions of dollars in increased household costs, and a net drop of over one billion dollars in average income. And the trade deficit widened by over 100 billion dollars. These effects were anything but “protectionist.” They caused real harm to American consumers in a wide swath of sectors, from groceries to home care to healthcare. If expanded, they could inflict irreparable harm.
The executive branch needs a check on the presidential tariff powers it has enjoyed ever since Congress ceded this authority decades ago. Please work with your colleagues to restore the balance of power and return these needed checks to the legislature.
Sincerely,
[Your Name Here]
Photo Credit: Markus Winkler
Cannot wait until i hear MAGAts cry!!