Trump’s Tax Plan Delivers Big Wins to the Wealthy, Cuts for the Rest in Major U.S. Cities - The Sacramento Observer

Trump’s Tax Plan Delivers Big Wins to the Wealthy, Cuts for the Rest in Major U.S. Cities - The Sacramento Observer

By Stacy M. Brown | NNPA BLACKPRESSUSA NEWSWIRE (NNPA) — Dubbed the “One Big Beautiful Bill,” the legislation makes permanent and expands the 2017 Trump tax cuts. It raises the cap on the state and local tax (SALT) deduction from $10,000 to $40,000, temporarily ends taxes on tips and overtime pay, and increases the child tax credit by $500 through 2028. The House-passed tax overhaul backed by President Donald Trump promises broad-based relief, b…

Trump’s big tax wins for the wealthy, cuts for major U.S. cities

The House-passed tax overhaul backed by President Donald Trump promises broad-based relief, but a detailed Penn Wharton analysis shows the legislation disproportionately benefits high-income households while delivering modest gains—or losses—for working-class Americans in cities like Baltimore, New York, Los Angeles, Detroit, Chicago, Houston, and Washington, D.C. Dubbed the “One Big Beautiful Bill,” the legislation makes permanent and expands t…

Trump’s Tax Plan Delivers Big Wins to the Wealthy, Cuts for the Rest in Major U.S. Cities - Nashville PRIDE, Inc.

Analysis of Trump-backed tax bill shows big gains for high-income households while working-class Americans face losses from cuts to SNAP and Medicaid. The post Trump’s Tax Plan Delivers Big Wins to the Wealthy, Cuts for the Rest in Major U.S. Cities appeared first on Nashville PRIDE, Inc..