Council of Economic Advisers

Read more from CEA about the benefits of President Trump's Working Families Tax Cuts here: whitehouse.gov/fact-sheets/20…

Demand for capital goods (inputs for future production) has also surged. Now at its highest share of goods imports on record. More capital goods today means more production tomorrow.

🚨Tax Day Stats🚨 Americans are benefitting from the largest tax refunds in history, thanks in large part to President Trump's signature policies in the Working Families Tax Cuts. These new and enhanced provisions include No Taxes on Tips, No Taxes on Overtime, No Taxes on Social Security, No Tax on Car Loan Interest, an Enhanced Child Tax Credit, and an increase in the standard deduction.

The 2026 Report discusses the impacts of the OBBBA, deregulation, America First trade policy, energy abundance, AI proliferation, housing affordability, supply chains and the defense industrial base, work’s role in human flourishing, DEI hiring, the myth of healthcare exceptionalism, retail access to private equity, and ESG investing.

Some results and highlights from this year’s Report: The U.S. is short over 10 million homes, as red tape, fees, and mandates add 42% on average to the cost of homebuilding. The importance of work extends beyond income; it decreases rates of mortality, depression, and loneliness. Policies promoting American energy dominance will support growth while lowering energy costs, boosting consumer welfare, and enhancing national security. Increasing competition and removing distortions in healthcare will deliver better quality, cheaper, and faster care for Americans. DEI hiring practices that weight demographic factors more heavily than job-relevant qualifications reduced annual GDP by $94 billion annually by 2023.

CEA today released the 2026 Economic Report of the President, now available here: whitehouse.gov/cea/2026-erp/

.@RealDonaldTrump cited our state inflation data in the SOTU last night, highlighting how record-setting inflation cost the typical family $34,000 under Democrats. Our latest analysis shows families paid $700 less in price increases during his first year than Biden’s.

Construction employment in specialty trades rose by 25K in January, the highest monthly change since 2020

Prime-age labor force participation rose to its highest level since 2001 as more Americans are coming off the sidelines. Average hourly earnings rose 3.7% in President Trump’s first year in office while average weekly earnings 4.3%

🚨Jobs Day Data Dump🚨

The President’s efforts to bring drug prices down continue to be successful. Prescription drug prices are down -0.5% since the President took office after rising 4.5% in Biden’s last year.

Cars have become more affordable under President Trump. Prices are down -0.4% over the month and -0.5% since the President took office.

🚨December CPI🚨