Trump’s tax plan: ‘Big, beautiful’ bill could cost low-income Americans $1,600 a year, CBO says — here’s what to expect next

Trump’s tax plan: ‘Big, beautiful’ bill could cost low-income Americans $1,600 a year, CBO says — here’s what to expect next

The “big, beautiful” tax bill that’s currently winding its way through Congress would, if it becomes law, lead to drastically different results for U.S. taxpayers, depending on where you fall on the income spectrum.

Republican bill’s effects on household income, by income group

The bill proposed by the current administration affects incomes of the poor and the rich in an unusual way. To demonstrate, for NYT’s the Upshot, Emily Badger, Alicia Parlapiano, and Margot Sanger-Katz compare the bill against previous bills. The bill as passed by the House in May would raise after-tax incomes for the highest-earning 10 percent of American households on average by 2.3 percent a year over the next decade, while lowering incomes f…

Trump Tax Plan: What to Expect From the 'Big, Beautiful' Bill

The “big, beautiful” tax bill that’s currently winding its way through Congress would, if it becomes law, lead to drastically different results for U.S. taxpayers, depending on where you fall on the income spectrum.