Economic Security Project

President Trump promised to make life more affordable. Instead, Americans face steep tariffs, rising inflation, and now, the economic shocks of war. Since the fighting began, gas is up nearly 60 cents, with experts warning it could spike to $4 or even $5 a gallon if the Strait of Hormuz, through which 20% of the world's oil flows, remains shut. But it's not just oil prices. In addition to the clear human toll, the war is also saddling families with new, added costs that are already showing up in grocery stores, on utility bills, and across the broader economy. The war in Iran is the latest in a series of economic shocks the current presidential administration has asked Americans to absorb. From DOGE cuts to haphazard tariff policy, the premise has been the same: short-term pain for long-term gain. Yet, those “gains” have yet to materialize. What’s manifested instead is sustained volatility – in prices, in markets, and in our paychecks – that’s made it impossible for families to feel secure and plan for the future. As the war with Iran undermines families’ inherent feeling of safety and security, it also pushes the promise of affordability even further away. 🧵

“They’re not confused. People are spending more to get less.” ESP’s Senior Director of Policy and Research @mtkonczal joined @majorityfm to unpack why people remain so frustrated with the economy, even as unemployment stays low, inflation cools, and wages rise. The cost of essentials like housing, groceries, and utilities, have risen faster than everything else and now take up a larger share of household budgets. And beyond the price hikes, there is a deeper sense of uncertainty. When everyday life becomes harder to afford, it also becomes harder to plan, feel secure, or imagine getting ahead. That instability is what people are reacting to right now. Watch the full interview: youtube.com/watch?v=nxYhhO…

“Wealthy people should pay a fairer share than they are paying now.” In his latest interview with @nytimes , @GovPritzker makes the case for tax fairness. In Illinois, that includes strengthening proven tools like the #ChildTaxCredit and #EarnedIncomeTaxCredit that put money directly back into people’s pockets and help families cover essentials like housing, groceries, and childcare. Economic Security Illinois was founded on the belief that these credits matter and has helped drive the work to expand the Earned Income Tax Credit, create Illinois’ first-ever Child Tax Credit, and then double it so this tax season families can receive up to $650 per child—delivering meaningful relief to working families amidst an affordability crisis. Watch the full interview: nytimes.com/2026/03/14/mag…

Parents, join us on Tuesday, March 24, for an important conversation about the Child Tax Credit (CTC), hosted by the Parent Advisory Board of the Automatic Benefit for Children Coalition. Register today by scanning the QR code or clicking the link: tinyurl.com/CTCvirtualwork…

Mónica V. Lazo, California campaigns director for @EconomicSecProj reminds us why tax credits matter now more than ever. See if you qualify for cash back from California's Child Tax Credit, Young Child Tax Credit, or CalEITC (Earned Income Tax Credit). myfreetaxes.org.

“The middle class has been cut out, and this is not just due to technology, it's due to corporate greed. What we are talking about is a better world where technology enables us to have a dignified future.” In her closing remarks on the @OpentoDebateOrg stage, Dr. Rumman Chowdhury (@ruchowdh), who debated alongside ESP co-founder @chrishughes, makes the case for a better future of work—one where technology helps enable a more dignified future, where people have choice, opportunity, and upward mobility. Watch the full debate: youtube.com/watch?v=3lijAX…

Grocery prices keep rising, and in too many communities, private grocery stores have compounded the problem by shutting their doors, taking access to fresh food away, and leaving residents with fewer options at even higher costs. Can cities build their own alternatives? Some local governments think so. From municipally owned stores to cooperatives to public-private partnerships, cities are exploring what it looks like to treat grocery access as a public good. On March 19, Economic Security Illinois Director of Policy & Advocacy Erion Malasi will join @LocalProgress for a conversation on how cities can design real, workable grocery alternatives that make groceries more affordable. The discussion will explore different public and community-anchored grocery models and the policy decisions that determine their success. 📅 March 19 | 1 PM CT (11 AM PT / 2 PM ET) Register to join here: us06web.zoom.us/meeting/regist…

“This time around, we have to build the bridge before the river rises.” At the close of the @OpentoDebateOrg debate, ESP co-founder @chrishughes and Dr. Rumman Chowdhury (@ruchowdh) argue that as AI transforms the economy, the real question isn’t whether work will become obsolete — but whether we build policies that expand choice, opportunity, and dignity for all workers That means modernizing unemployment insurance, creating a national service program, and strengthening workforce training to ensure people have real pathways to good jobs in a rapidly changing economy. Watch the full debate here: youtube.com/watch?v=3lijAX…

"The more time that we spend focused on the siren song of a jobless, workless future is less time that we focus on the practical project of figuring out how to smooth the transition for the workers who will need our help the most." ESP co-founder @chrishughes on the @OpentoDebateOrg stage alongside Dr. Rumman Chowdhury (@ruchowdh), Simon Johnson (@baselinescene), and @AndrewYang, making the case that #AI policy needs to center the workers who will feel its impact the most. Watch the full debate here: youtube.com/watch?v=3lijAX…

AI systems are now writing code, diagnosing diseases, designing buildings, and even generating art. Tools like @ChatGPTapp, @claudeai, @GoogleDeepMind, and autonomous robots are reshaping industries once thought immune to automation. Will AI usher in a new era of prosperity and leisure or a future of unemployment and inequality? Featured Debaters: Dr. @ruchowdh, @chrishughes (@economicsecproj), Simon Johnson @baselinescene (@MITshapingwork), and @AndrewYang. Moderated by @JohnDonvan. This is the fifth debate of The Hopkins Forum series, co-presented by @snfagora of @johnshopkinsu and @opentodebateorg. Photo credit: Poll Bravo of @JHUBloombergCtr. Watch now on YouTube, or listen on Spotify and Apple Podcasts.

What do the rich owe the rest of us? Join us at UC Berkeley on March 10 (4:00–5:30pm) for a conversation on taxation, inequality, and democracy featuring Brian Galle, Emmanuel Saez, Vanessa Williamson, and @raymadoff, moderated by Aaron Horvath (@horvathianisms). We're teaming up with Private Wealth and the Public Good and the Berkeley Economy & Society Initiative (@BESI_Berkeley) to bring you this one. More details and registration here: besi.berkeley.edu/event/what-do-…

ESP’s Mary Durden recently traveled to Colombia and India as part of a delegation organized by Dalberg (@DalbergTweet) and the Institute of International Education (@IIEglobal), sponsored by the Robert Wood Johnson Foundation (@rwjfoundation), that included leaders from a dozen organizations to learn how governments and communities in the Global South are reimagining care as a public good. From Bogotá's Care Blocks to India's Anganwadi Centers, she saw firsthand what it looks like when government treats care as a collective responsibility — not a personal burden. Read more about her trip, the wonderful leaders she met, and the many lessons the US can learn from both countries. economicsecurityproject.org/news/what-colo…

Why does your savings account pay you almost nothing in interest, but your bank quietly earns billions from the Federal Reserve? It’s not an accident. When you deposit money, your bank parks it with the Fed and earns a top-of-market interest rate. They pass almost none of those earnings back to you. Multiply that across $3 trillion in reserves, and it adds up to a peak of $200 billion a year flowing to commercial banks. ESP co-founder @chrishughes and Josh Younger argue in a new report published by @BrookingsInst , this isn't neutral 'central bank plumbing', it's a hidden subsidy to big banks, funded by depositors and taxpayers. Chris breaks down who's winning, who's losing, and what could be done differently in his latest Substack: chrishughes.substack.com/p/the-price-of…