Washington D.C — According to a recent op-ed featured in The Guardian, Americans’ heating costs are set to increase by 9.2% this winter, which is three times faster than the rate of inflation. This stark reality is making it more and more difficult for working families to afford to heat their homes. One in four Americans now say that their energy bills are unaffordable. This crisis is no accident. Energy prices are skyrocketing because President Trump and Republicans in Congress put the interests of billionaires and fossil fuel companies over helping their constituents afford basic necessities like electricity and heating.
The Republican Tax Law, which passed on a party-line vote last year, is making the situation worse. Republicans in Congress eliminated energy tax credits that were making it more affordable for Americans to afford their energy bills and weatherize their homes. Because of this rollback in tax credits, home energy costs are set to increase by $170 annually by 2035 and Americans will be forced to spend $200 more for gas annually by 2030 – all so Republicans in Congress could give billionaires more tax breaks.
These rising energy costs come on top of increases in the costs of food, health care, and everyday essentials – driven by Republican tariffs and their decision to cut Medicaid, cut SNAP, and end vital health care tax credits.
“Americans are facing record low temperatures and record high energy bills because President Trump and Republicans in Congress wanted to pad the pockets of billionaires and fossil fuel companies,” said Unrig Our Economy Campaign Director Leor Tal. “No one should have to choose between putting food on the table or keeping their home warm. Yet, Republicans in Congress are forcing families to do so thanks to their tax law. It’s time for Congressional Republicans to stop shilling for billionaires and start working to help their constituents afford basic necessities like heating.”
The Guardian: Why US household energy bills are soaring – and how to fix it
Donald Trump promised to cut energy prices by 50%. Instead, average electricity prices over the past year have risen by about 6.7%.
The result is that energy is becoming increasingly unaffordable. For example, we are projecting that home heating costs will increase by 9.2% this winter, more than three times the rate of inflation.
These increases may be an inconvenience for higher-income households, but for low- and middle-income families they are devastating. Millions of households that were getting by are now being driven into utility debt and toward shutoffs because they cannot afford to keep their homes warm.
These outcomes are not inevitable features of energy markets. They reflect policy choices that raise system costs, weaken efficiency and affordability programs, and shift risk on to households least able to absorb it.
An administration that claims to stand with consumers cannot continue to write energy policy for fossil-fuel producers and expect a different outcome.
To learn more about the campaign, visit UnrigOurEconomy.com or contact press@unrigoureconomy.com
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About Unrig Our Economy
Unrig Our Economy is a national campaign to fix the rules of our economy to make it work for working people. We know that when the middle class does well, all of us do well — which is why we’re fighting on behalf of working Americans and holding corporations, their wealthy executives, and the politicians who enable them accountable.