A report from the Democratic Joint Economic Committee, released on July 24, 2026, assesses the first 18 months of Trump’s second term. Virginia households are paying an average of $2,900 more per year due to tariffs and related policy effects, including nearly $650 in additional housing costs. U.S. GDP grew at a 2.1% annualized rate in the first quarter of 2026, while inflation stands between 3.0% and 3.8%, above the Federal Reserve’s 2% target. The labor market weakened with only 57,000 new jobs created in June 2026 and an unemployment rate at 4.2%. The S&P 500 rose approximately 22.5% since the January 2025 inauguration, and the Trump family reported over $1.4 billion in crypto-related income for 2025, with Bitcoin falling from nearly $126,000 in October 2025 to approximately $60,000 in early 2026.
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