FOX Business host Charles Payne discusses claims that prices are rising in ‘Making Money.’
The Supreme Court struck down the President Donald TrumpTrade agenda on Friday, opposing him in a lawsuit challenging the legality of tariffs that have halted global markets and US chains.
By a 6–3 vote, the majority concluded that the statute cited to authorize the import duties “does not authorize the President to impose tariffs.” Chief Justice John Roberts delivered the court’s opinion. Justices Clarence Thomas, Samuel Alito and Brett Kavanaugh dissented.
The White House did not immediately respond to Fox News Digital’s request for comment.
TRUMP DEFENDS CURRENCIES, SAYING WE HAVE BEEN ‘THE KING OF FIGHTING’ ON TRADE INCEQUALITIES.
President Donald Trump has announced his “Independence Day” tax for April 2025. (Brendan Smialowski/AFP/Getty Images/Getty Images)
These two cases, which Trump described as “life or death” for the United States, forced that Supreme Court confronting how far the president can go in reshaping America’s trade policy.
Challenges — Learning Resources Inc. v. Trump and Trump v. VOS Selections Inc. — were brought by an educational toy maker and buyer from a wine and spirits family challenging the legality of Trump’s tax.
Both cases raise an important question: whether the International Emergency Economic Powers Act (IEEPA) gave the president the authority to set tariffs, or whether that measure is unconstitutional. The controversy follows Trump’s so-called “Liberation Day” tariffs in April, which he has said he will face. trade imbalance and reducing dependence on foreign goods.
US INCOME UP 300% UNDER TRUMP AS SUPREME COURT LIFE CONTINUES
Trump has promised to use some of the proceeds to issue $2,000 checks to Americans and pay off the national debt. (Mark Ralston/AFP/Getty Images)
This decision comes as tax-free funds and the economic value associated with them have increased to record levels.
Jobs jumped from $9.6 billion in March to $23.9 billion in May following the release of taxes. For fiscal 2025, which ended September 30, collections reached $215.2 billion, according to Treasury data, and the upward trend has continued into fiscal 2026, with receipts already surpassing last year.
Since Trump’s return to office, tax collections have increased by nearly 300 percent, creating a major storm in the state’s coffers. In January alone, operations reached $30.4 billion – an increase of 275% from last year – and revenue for the current fiscal year reached $124 billion, which is an increase of approximately 304% from the same period last year.
TRUMP SAYS SUPREME COURT CASE ON TRADE IS ‘LIFE OR DEATH’
Tariffs act as taxes on imports, and in many cases American exporters absorb the upfront costs and pass the higher prices on to wholesalers, retailers and, ultimately, consumers. That means households and businesses may face rising costs for everything from electricity to utilities.
Whether taxes ultimately help or hurt the economy depends on how much of the burden is borne by consumers, how domestic producers respond and whether the intended economic or national benefits are worth the additional cost to consumers.
That dynamic makes the high court’s decision particularly impactful for households and businesses that are already navigating high costs.
The increase in income underscores how moderate prices have become in Trump’s economic plan, with the administration saying that job cuts could help fund domestic priorities, reduce the national debt and even deliver on the proposed proposal. $2,000 in dividends of the Americans.
But with full ties moving just north $38 trilliontax revenue becomes little more than a compounding error – the billions collected in the trillions owed.
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However, the president insists that aggressive tariffs are necessary to address what he considers years of unfair trade around the world, a situation that shows just how entrenched it is. trade policy focused on his broader economic plans.
With affordability a key concern for voters heading into the midterm elections, any policy that raises consumer prices is likely to face political scrutiny.
