New Study: Families In New York Have Had To Spend $6,000+ More Under Trump

JEC Report: The Average Household In New York Has Had To Pay An Additional $6,000+ For Goods And Services Due To Rising Costs Under President Trump This week, a new Joint Economic Committee (JEC) – Minority report found that as of September 2026, the average household in New York has had to pay an additional $6,000+ for goods and services due to rising costs under President Trump. When campaigning in 2024, candidate Trump promised , “Starting on day one of my new administration, we will end inflation, and we will make America affordable again.” In response to the new report and Republicans’ broken promises, U.S. Senator Kirsten Gillibrand issued the following statement: “President Trump and congressional Republicans promised to lower costs and end inflation. Instead, they’ve made life $6,000 more expensive for New Yorkers,” said Senator Gillibrand. “Look at what they have done: they gutted Medicaid and cut Medicare and healthcare subsidies to fund tax breaks for billionaires, launched a war that increased gas prices, and supported tariffs to make groceries and essentials more expensive. I will not stop fighting to lower New Yorkers’ costs and hold this administration accountable for hurting working families and small businesses across our state.” The new report follows JEC’s September study that found that President Trump’s vanity projects – including construction of the new White House ballroom and the no-bid contract to paint the Lincoln Memorial Reflecting Pool, among others – are expected to cost more than $1.8 billion, highlighting the administration’s egregiously misplaced priorities and lack of interest in spending money to lower costs and help the American people. Additional breakdowns of the JEC report: Housing Costs New York families have had to spend an additional $1,310 on housing costs such as rent and mortgage payments since President Trump took office. Grocery Costs Americans paid $310 more for groceries in President Trump’s first year than in 2024, and grocery prices are now more than 4 percent higher than when Trump took office. Beef and coffee prices are hitting Americans especially hard. Since the president took office, the average price of ground beef has risen almost every month to a record high of more than $7 per pound . Coffee prices also spiked and are now more than $9 per pound . Energy Costs Gas prices have soared since the start of Trump’s Iran war. In total, people across New York have spent an additional $4 billion on gas since the beginning of the war. That has cost the average family in New York an additional $739 in gas costs. Families in New York spent $190 more on electricity in 2025 under President Trump than they did in 2024. And, in just the first seven months of 2026, they spent $258 more on electricity than they did in the first seven months of 2024. Home heating oil prices in New York are at record highs , which means it will now cost a family $1,558 to fill their heating oil tank, $598 more than at this time last year . If prices stay this high, then New York families will have to pay a total of $2,504 to heat their homes this winter, a 32 percent increase compared to last winter . Health Care Costs Because of Trump and Republicans’ refusal to extend the Affordable Care Act (ACA) tax cuts that help people afford their health insurance, monthly premiums for ACA plans rose over 50 percent on average in 2026 compared to last year. Meanwhile, deductibles surged to record highs, increasing by more than $1,000 on average. Sources: Bureau of Labor Statistics Consumer Price Index and Average Price Data, Census Bureau’s American Community Survey, Joint Economic Committee – Republicans, Bureau of Economic Analysis, U.S. Department of Agriculture, Walmart.com, AAA.com , Federal Highway Administration, Energy Information Administration, Kaiser Family Foundation. Gas cost calculations are current through October 14, 2026, heating oil as of October 5th. ###