US EditionGOP Tax Bill Would Cost Low-Income Americans $1,600 a Year and Boost Highest Earners by $12,000, CBO Says
- The nonpartisan Congressional Budget Office released an analysis on June 13, 2025, showing the House-passed tax and spending bill would benefit high earners while hurting the poorest Americans.
- The bill extends many 2017 tax cuts and reduces spending on Medicaid and SNAP, which leads to lower income households losing financial resources.
- The CBO found families in the top 10% earning about $692,000 would gain roughly $12,000 annually, middle-income families would gain $500 to $1,000, while the poorest would lose $1,600 yearly mostly due to benefit cuts.
- CBO director Phillip Swagel highlighted that the effects of the changes would vary across different households, while Rep. Brendan Boyle described the findings as evidence of an unprecedented shift of wealth from working-class families to the very wealthy in the United States.
- The bill now faces opposition in the Senate because it increases deficits, shifts resources away from the needy, and may cause economic risks according to critics and some GOP members.
78 Articles
78 Articles
Trump-GOP Budget Bill 'Takes From the Poor and Gives Most to the Rich,' CBO Analysis Confirms
A new report from the Congressional Budget Office estimates that the Republican legislation would cut household resources for the bottom 10% and boost them for the richest 10%, making it "uniquely regressive."
The Most Regressive Legislation in Decades
New York Times: “The Republican megabill now before the Senate cuts taxes for high earners and reduces benefits for the poor. If it’s enacted, that combination would make it more regressive than any major tax or entitlement law in decades.”“The bill as passed by the House in May would ra
Trump's 'Big, Beautiful Bill' Pulls $1,600 From Poorest, Adds $12,000 For Richest Annually, Shows CBO Analysis
House-passed bill slashes income of poorest Americans by $1,600 & boosts wealthy by $12,000, middle-income families gain modestly, but low-income families lose due to Medicaid cuts & work requirements reveal new CBO analysis.
How H.R. 1, the One Big Beautiful Bill Act, Would Affect the Distribution of Resources Available to Households
CBO's interactive tool allows users to explore how H.R. 1, the One Big Beautiful Bill Act, as passed by the House of Representatives on May 22, 2025, would affect the economic resources available to households grouped by income.
Coverage Details
Bias Distribution
- 66% of the sources are Center
To view factuality data please Upgrade to Premium
