BURLINGTON, VT – U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, today released new data highlighting the impact of President Trump’s economic policies and Republicans’ so-called One Big Beautiful Bill Act (OBBBA) on hardworking Vermont families.
The new report reveals that the Trump Administration’s disastrous economic policies will leave 99.5% of Vermont families worse off by an average of $2,120 per year. The Republican bill will also hike health care costs, close rural hospitals, raise energy bill prices, and deny vital nutrition assistance—all to pay for tax cuts for the wealthy. Senator Welch voted in strong opposition against the legislation.
“Since day one, President Trump has promised to lower costs for American families, but the President’s reckless economic policies haven’t delivered. In fact, they’ve done the opposite. For months, Democrats have sounded the alarm about the Republicans’ disastrous tax bill, which will raise costs for working families. This new data reveals just how much Republican policies hurt working families, leaving nearly every Vermonter worse off by over $2,000 per year,” said Senator Welch. “I’ll continue to push back against Republicans’ ruinous economic policies and work to make life more affordable for Vermonters.”
New data released by Senator Welch reveals the disastrous impact of Trump’s economy on Vermonters:
- As many as 45,000 Vermonters expected to lose their health care.
- $1.7 billion in lost revenue for Vermont hospitals.
- Over 8,000 Vermonters at risk of losing access to substance use treatment.
- Over 26,000 Vermonters will lose access to discounted premiums on the ACA marketplace.
- 6,000 Vermonters are at risk of losing some or all of their Supplemental Nutrition Assistance Program (SNAP) assistance, known as 3Squares in Vermont. The average family in Vermont that relies on food assistance will lose $94 every month.
- Annual energy bills will rise by $290.
- Mortgage payments will rise by $1,060 annually.
- Tariffs will cost Vermont households $3,800 more on average per year.
View and download the full fact sheet here and below:
Senator Welch has blasted Trump’s tariffs and trade war and shared stories from constituents about how President Trump’s economic policies have impacted their businesses, farms, and communities. The Senator has hosted roundtables in Stowe, Newport, St. Albans, Manchester, and virtually to hear concerns and first-hand stories from Vermont and Canadian leaders impacted by Trump’s economic policies.
Senator Welch championed the Creating Access to Necessary American-Canadian Duty Adjustments (CANADA) Act, legislation to exempt United States-owned small businesses from tariffs imposed on Canada. Ahead of the August 1st restart of Trump’s reckless tariffs, Senator Welch called for a vote on his bill which Senate Republicans blocked in effort to show support for President Trump over small businesses in their states.
The Senator also led a bipartisan resolution to end President Trump’s ruinous global tariffs and supported legislation to restore congressional tariff authority, restrict the Executive Branch’s authority to impose tariffs through the International Economic Emergency Powers Act, and joined 32 colleagues in challenging the Trump Administration’s abuse of emergency powers to impose tariffs.
Senator Welch has also repeatedly slammed Republicans’ cruel tax bill on the Senate floor. Last month, the Senator introduced the Repealing the Trump Sick Tax Act, legislation to repeal changes to Medicaid cost-sharing requirements and handouts to Big Pharma in the Republicans’ reconciliation tax and spending bill. The Senator also recently joined his colleagues for a spotlight hearing examining Republicans’ efforts SNAP and joined Planned Parenthood of Northern New England for a virtual roundtable highlighting the harmful consequences of Republicans’ reconciliation bill for patients.
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