Boyle Releases Report Finding Personal Bankruptcies at Highest Levels in Years Under Donald Trump

WASHINGTON, DC — A new report by House Budget Committee Ranking Member Brendan F. Boyle (PA-02) finds that personal bankruptcies are rising across the country under President Donald Trump, with filings increasing in 47 states and the District of Columbia during the President’s first year back in office. Personal bankruptcy filings are now at their highest levels since 2019, during President Trump’s first term.

“Donald Trump’s reckless tariff taxes are driving up prices, hurting the economy, and leaving families to pay the price. Now, we are seeing an increasing number of those families forced to file for bankruptcy,” said Ranking Member Boyle. “Instead of addressing this economic crisis, Congressional Republicans passed the largest cuts to health care in American history to finance tax breaks for billionaires. Those cuts are driving health insurance premiums higher and will only worsen this bankruptcy crisis, as medical costs remain one of the leading causes of bankruptcy in America. This report makes it clear that the only people benefiting in Donald Trump’s economy are his billionaire donors — everyone else is falling further behind.”

According to the Committee’s analysis of U.S. Bankruptcy Court data, personal bankruptcy filings increased by 11 percent nationwide, with approximately 55,000 more filings compared to the previous year, bringing the total number of filings to nearly 544,000.

See the full report here.

For more information on the Trump-Republican cost of living crisis, including additional local data, visit the Committee’s website here.

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