American families are feeling the pinch of rising energy prices and declining family incomes. Many families must make difficult decisions about where their hard-earned dollars are spent.
The impact of rising energy prices is especially troubling for 51 million U.S. households who on average have an annual budget of $19,719. Put another way, more than 40 percent of America’s families have less than $1,643 a month – or slightly less than $55 a day – to pay for necessities such as energy, food, housing and healthcare expenses.
In fact, they already spend 17 percent of their income on energy, with the poorest among them – some 25 million families – spending 22 cents of every precious dollar they take home.
New EPA regulations that will drive up energy costs only spell more trouble for these struggling households.
For an overview of the increasing energy expenditures confronted by our nation’s poorest families, download a summary of the study.
For an in-depth look at how rising energy costs are straining household budgets, download the full report, “Energy Expenditures by American Families.”
Read individual analysis broken down by state on the impact of energy costs on American households.