When it comes to the affordability debate that will define the midterm elections, President Donald Trump’s biggest and toughest opponent is this: reality.
Consider that in July 2025, when Trump signed his tax cut policy into law with the sweeping One Big Beautiful Bill Act, average national gas prices were $3.16 a gallon. Fast forward to today, and average gas prices are $4.12 a gallon. Researchers at Stanford estimate that the average household will spend an additional $740 this year for gas. Average tax refunds are up only about $350, or 11%, over last year, according to the Treasury Department. That’s far lower than the ...