Today, as Donald Trump announces he will attend Republican Senator Dave McCormick’s “energy summit” next month in Pittsburgh, new reporting shows that Trump’s budget bill would have dire consequences, hiking costs on Americans across the country. 

It’s projected that Trump’s budget would:

• Cost the economy $1.1 trillion in clean energy rollbacks by 2035
• Eliminate 700,000 U.S. jobs
• Skyrocket energy prices

In response to new analysis on the cost-hiking consequences of Trump’s budget bill, DNC Chair Ken Martin released the following statement:

“Donald Trump said he’d lower energy bills, but instead his chaotic policies are set to trigger mass layoffs and send energy prices soaring as we head into summer. Now, we’re learning that Trump’s budget bill will cost the economy $1.1 trillion in clean and affordable energy rollbacks — yet another example of his agenda screwing people over – and raise energy bills for American households by hundreds of dollars a year. And here’s the kicker: Trump is only pushing this attack on American pocketbooks so his billionaire buddies can get richer. Make no mistake: Trump has not unleashed American energy — he’s just making Americans pay more.”

Recent analysis shows that Trump’s budget would raise energy costs for American households and be a disaster for the U.S. economy. 

Inside Climate News: “Study Says Clean Energy Rollbacks Will Cost Economy $1.1 Trillion by 2035”

Reuters: “Trump tax bill squeeze on clean power could raise energy bills”

New York Times: “Electricity Prices Are Surging. The G.O.P. Megabill Could Push Them Higher.”

Forbes: “Trouble With Big Beautiful Bill: Energy Prices, Economy, Environment”

“According to a Princeton University energy policy report, the House-passed version of the Bill, currently under consideration in the Senate, raises three red flags: for our household energy bills, our economy, and our environment.”

Trump is doubling down on his cost-hiking agenda so his billionaire backers can get a massive tax break at working families’ expense.

Brandon Duke on X: “NEW analysis by the Congressional Budget Office shows the “One Big Beautiful Bill”:

“1.) Makes the bottom 30% worse off 

“2.) Finances tax cuts that make the top 10% in particular better off.

“This is not shared sacrifice–it’s a fiscal transfer from the bottom to the top.”

Market Place: “The federal budget will affect borrowing costs for everyone”

TribLive: “Republican budget bill will cost thousands of clean energy jobs, millions in investment, advocates say”

Economists are sounding the alarm while Americans’ confidence in the economy plummets under Trump’s chaotic leadership. 

Associated Press: “US growth likely to slow to 1.6% this year, hobbled by Trump’s trade wars, OECD says”

Associated Press: “Citing trade wars, the World Bank sharply downgrades global economic growth forecast to 2.3%”

NBC News: “Consumers brace for steeper bills and lower credit scores from Trump’s financial deregulation”

Glassdoor: “Glassdoor Employee Confidence Index: A record low in May”