Section 122 tariffs are currently costing the average household up to $1,200–$1,500 more per year. If they expire as scheduled in July 2026, that drops to $760–$940. Food prices are up 3.6%. Gas prices are spiking. Here is a verified, practical guide to protect your budget now.
FACT CHECK NOTE — ABOUT THE TARIFF COST FIGURES: You may have seen figures of $4,600–$4,700/year circulating online and in flyers. Those estimates were based on peak 2025 tariff scenarios, including the brief period when 'Liberation Day' tariffs on China reached 145%. As of April 2026, the Yale Budget Lab's verified figure for tariffs currently in effect is $1,200–$1,500/year per household. If the Section 122 tariffs expire as scheduled in July 2026, that drops further to $760–$940/year. Both numbers are real — they reflect different tariff scenarios at different points in time. We use the current verified figure here, with the source linked below.
IF YOU ARE ON A FIXED OR LIMITED INCOME — START HERE: Before anything else, make sure you are getting every benefit you are entitled to. Many Americans on fixed incomes are leaving money on the table. SNAP (food assistance): If your household income is at or below 130% of the federal poverty level, you likely qualify. Apply at your local SNAP office or online at benefits.gov. LIHEAP (Low Income Home Energy Assistance Program): This federally funded program pays part of your heating and cooling bills. Call 211 or visit liheap.acf.hhs.gov to apply. Medicaid: Visit healthcare.gov or call 1-800-318-2596. Medicare Extra Help (Part D): Call 1-800-MEDICARE or visit ssa.gov/extrahelp. BenefitsCheckUp: Go to benefitscheckup.org to see every benefit program you may qualify for.
MONEY & BUDGET: Map every income source and bill on a calendar. Build a cash envelope labeled 'Emergency': saving just $5–$10 a week means $500+ in 12 months. Cancel subscriptions you forgot you had. Pay high-interest debt first. Use cash-back apps like Ibotta and Fetch Rewards on groceries you already buy.
FOOD & GROCERIES: Plan meals around the weekly store flyer. Switch to store-brand rice, beans, pasta, and canned goods — they are 30–50% cheaper. Visit feedingamerica.org to find a food pantry near you. Grow food in a small space: a $3 pot and $1 seed packet of green onions on a windowsill can save $10+/month.
FUEL & ENERGY: The DOE Weatherization Assistance Program (WAP) is still fully funded at $369 million for FY2026 — free home improvements saving households an average of $372/year. Call your utility company and ask specifically about budget billing or hardship plans. Use GasBuddy to find the cheapest gas near you.
COMMUNITY & WELL-BEING: Call 211 from any phone, 24/7 — they connect you to local food, utility, housing, and mental health resources, all free and confidential.