Latinos Are Still Waiting on the Promise of Trump’s Economy

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Opinion for The Latino Newsletter

LOS ANGELES — Latino voters made one thing clear in the last election: they wanted immediate relief from stifling inflation and a cost of living that is deeply impacting their quality of life. Inflation has drained the wallets of Latino families and has made the traditional “American Dream” feel distant. Things like homeownership, a new car, aspiring to have significant savings, or even a family vacation seem unreachable for too many working-class families. For Latino voters, it was always about delivering on an economic promise, no matter who won the election.

This economy now belongs to Donald Trump, and Latino voters (like most Americans) are still waiting for the immediate results he promised. In last week’s address to the nation, he blamed Joe Biden for the economic downturn and persistent inflation and distanced himself from our slowing economy. Since taking office, Trump’s economic policies have focused on tariffs and provoking trade wars that have confused and scared investors, businesses, and individuals. 

Working-Class Campaign, But Policies for Wealthy

During the campaign, Trump portrayed himself as the champion of working Americans, promising to control inflation and put more money back in the pockets of ordinary families. But his administration’s economic plans tell a different story. Instead of targeted relief for the working class, Trump’s GOP allies in Congress are pushing tax policies that overwhelmingly benefit the wealthy.

A new budget proposal calls for $4.5 trillion in tax cuts, which disproportionately help the richest Americans, while cutting $2 trillion from essential programs that support working families, including Medicaid and food assistance. For Latino households, which are more likely to depend on these safety nets, this means harder choices and fewer opportunities.

The tax cuts Trump is pushing to extend provide negligible benefits for working-class earners while funneling massive savings to the wealthiest Americans. Households in the bottom 20% of earners would see an average tax break of just $130 per year, while the richest 1% (those making over a million dollars annually) stand to gain an average of $70,350. This is not the kind of economic agenda that puts working-class Latino families first.

A Slowing Economy Under Trump

The Trump administration has wasted no time creating uncertainty in the economy. From abrupt freezes in federal spending to mass government layoffs and aggressive tariffs, these erratic moves are already slowing business growth and raising inflation expectations.

Key economic indicators are flashing warning signs:

• Consumer sentiment is declining, with pessimism about job prospects and business conditions reaching levels last seen during Trump’s trade wars in 2019.

• Homebuilder confidence is dropping, as mortgage rates and high housing costs make homeownership even more unattainable for Latino families.

• Inflation pressures are intensifying due to Trump’s sweeping new tariffs on China, Mexico, and Canada. These tariffs could push prices higher while dragging down consumer spending.

• Mass government layoffs initiated under Trump’s so-called “Department of Government Efficiency” are expected to eliminate up to one million jobs, including among federal contractors, impacting middle-class workers.

This economic turbulence is the direct result of policy choices that favor confrontation over stability. Instead of creating an environment where businesses and workers can thrive, Trump’s approach is setting the stage for global economic uncertainty. 

Where Is the Immediate Relief?

Latino voters have been here before. The last election sent a clear message: if leaders fail to address the kitchen-table concerns of working-class families, they will lose their support.

Trump made bold claims about economic revitalization, but his early moves show a return to policies that put the ultra-rich first and leave struggling families with empty promises.  Latinos make up nearly one in five Americans and are an essential force in the economy, workforce, and small business sector. Yet their economic future is being jeopardized by policies that deepen inequality and weaken the safety nets millions rely on.

At least for now, the economic signals are flashing slower growth and higher inflation. Not good for the working-class Latinos who were promised change on Day 1.

Latino voters are watching. And they’re still waiting for the results they were promised.

About the Author

Orson Aguilar is President and CEO of Latino Prosperity, an organization dedicated to championing economic policies that create economic opportunity and wealth-building in the Latinx community. For more than 20 years, Orson has been a nationally recognized leader in economic justice and wealth-building for communities of color. He is the former President of the Greenlining Institute and Executive Director of the UnidosUS Action Fund.

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What We’re Reading

East Boston and Immigrant Rights: This story from GBH News in Boston features East Boston business owners and what they are saying about visits from U.S. Immigration and Customs Enforcement (ICE).

Labor Secretary Confirmed: From the Associated Press, Lori Chavez-DeRemer’s confirmation earned the support of prominent labor unions. The final Senate tally 67-32, “with 17 Democrats voting yes and three Republicans voting no.”

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Editor's Note: The author of today’s opinion piece has donated to The Latino Newsletter. Our decision to publish the piece, like all editorial decisions, is made independently and is not influenced by our growing list of donors who support our mission to uplift the voices of our community. All publishing decisions are made solely by our publisher, Julio Ricardo Varela.

The Latino Newsletter welcomes opinion pieces in English and/or Spanish from community voices. Submission guidelines are here. The views expressed by outside opinion contributors do not necessarily reflect the editorial views of this outlet.