Prosperity Now

For Immediate Release:
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April 2, 2025

Contact:
Lobna Hassairi (202) 250-9168, ‍

Statement from Marisa Calderon, Prosperity Now President & CEO, on Proposed Tariffs and Rising Costs for American Families

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The administration is expected to announce a sweeping set of new tariffs today as part of its Liberation Day efforts and broader push to reshape global trade.

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“Tariffs may sound like a strategy to boost U.S. manufacturing, but for working families, they hit like another bill they can’t afford. A 25% tariff on building materials could raise the cost of a modest home by up to $10,000, which is the difference between qualifying for a mortgage and getting priced out.

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Families are already struggling to keep up with rent, groceries, and childcare. The median household is spending over 30% of their income just on housing, and that’s before tariffs kick in. Add higher costs for cars, electronics, and everyday essentials, and there’s little left to save for the future, let alone a down payment.

If the goal is to strengthen American manufacturing, improve family financial stability, and open more paths to homeownership, those efforts must go hand-in-hand with broader investments. There must be clear steps to rebuild domestic production and support the workers and innovation needed to meet demand. We welcome opportunities to advance solutions that make housing more affordable and build lasting economic security for families.”

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About Prosperity Now — Since 1979, Prosperity Now has been a trusted leader in strengthening financial security, expanding access to capital, and ensuring economic stability for businesses, families, and communities. We work across sectors to develop practical, scalable solutions that create lasting change. Through innovation, strategic investment, and collaboration, we build the infrastructure needed to sustain small business growth, housing opportunities, and financial well-being in an evolving economic landscape. Learn more at www.prosperitynow.org.

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