Jay Block, a Senator from New Mexico, said that the recent federal surplus and tariff revenues vindicate President Trump's economic strategy and indicate a positive direction for managing the national debt. The statement was made on X.
"Remember all the so-called "experts" and those on the left who said the Trump tariffs would put us in a recession and raise inflation," said Jay C Block, New Mexico State Senator from 12th District (R). "Trump and his team know what they are doing and not backing down to pressure to make economic mistakes. They are cleaning up bad policy messes not just from the last administration but from decades past. We are going in the right direction, Trump is rightfully concerned about the national debt and wants to ensure future generations aren't burdened."
Since the implementation of Trump's tariffs, U.S. consumers and businesses have faced increased costs and supply chain disruptions, contributing to recent inflation spikes and affecting the federal budget, as reported by Reuters. The tariffs, first imposed in 2018 and expanded in 2024–2025, have pushed up prices for goods like steel and electronics. This has led to inflationary pressure and boosted federal tariff revenues. However, many economists warn that long-term effects could dampen economic growth and raise consumer prices.
According to the U.S. Treasury’s Monthly Statement cited by Reuters, the federal government posted a $258 billion surplus in April 2025. Despite this surplus, the year-to-date deficit still approached $1.1 trillion due to large outlays for social programs and interest payments. This illustrates continued fiscal volatility despite periodic surpluses, as federal revenue lags behind growing expenditures.
As reported by Politico, U.S. customs tariff revenues for fiscal year 2025 surged to about $100 billion by early July, marking an increase of over 65% compared to the same period in the prior fiscal year. The sharp rise is attributed to expanded Trump's tariffs on a wider range of imports, significantly increasing customs collections from last year’s total.
According to his official biography and as reported by Wikipedia, Jay Block is a Republican member of the New Mexico Senate, elected in 2024 after serving as a Sandoval County Commissioner and retiring as a U.S. Air Force Lieutenant Colonel. Block’s legislative focus includes economic development, reducing government waste, and strengthening public safety.
