US EditionGOP Tax Bill Would Cost Low-Income Americans $1,600 a Year and Boost Highest Earners by $12,000, CBO Says
- On Thursday, the nonpartisan Congressional Budget Office released an analysis of Donald Trump’s "One Big Beautiful Bill Act," finding it would reduce resources for the poorest households while benefiting the wealthiest, nationwide.
- The bill passed the House last month after being championed by President Trump and includes over $3 trillion in tax cuts offset by about $1 trillion in reduced spending, mainly on Medicaid and food stamps.
- The CBO reported that families in the lowest income decile would lose about $1,600 annually largely due to cuts in safety-net programs, while middle-income families would gain $500 to $1,000 and top earners would receive roughly $12,000 in tax savings.
- Rep. Brendan Boyle described the bill as resulting in an unprecedented shift of resources from working families to the wealthiest Americans, while Lawrence Summers warned that it could trigger a severe and dangerous economic decline.
- The analysis suggests the bill would widen the deficit by $2.4 trillion through 2035 and faces strong opposition from Democrats, faith leaders, and social advocates concerned about its impact on vulnerable Americans.
73 Articles
73 Articles
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.
'Really goes after poor people': How Trump's big bill punishes low-income Americans
A new analysis from the Congressional Budget Office (CBO) released Thursday reveals that the Republican tax-and-spending megabill, recently passed by the House and now under Senate consideration, would significantly increase after-tax incomes for the wealthiest Americans while reducing them for the poorest. Specifically, the top 10% of earners would see an average annual gain of $12,000, whereas the bottom 10% would experience a loss of approxim…
Top earners to receive lion’s share of income boost from GOP bill: CBO
The top one-tenth of the U.S. income spectrum is set to receive the biggest annual boost to its wealth as a result of the House-passed Republican tax cut and spending bill, according to a new analysis from the Congressional Budget Office (CBO), while the bottom three deciles are set to lose wealth and the fourth…
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