GOP Tax Law Mainly Benefits the Rich, Worsening Inequality
TL;DR Summary
A recent analysis by the Congressional Budget Office indicates that President Trump's new tax law benefits the top 10% of earners by approximately $13,600 annually over a decade, with middle-class households also gaining modestly, while the poorest Americans face financial losses and increased health coverage gaps due to cuts in social programs.
- Trump’s tax law is even better for rich people than originally thought. Here’s how much more the top 10% stand to gain. MarketWatch
- Trump's tax law to mostly benefit the rich, while leaving poorer Americans with less, CBO says NBC News
- Distributional Effects of Public Law 119-21 Congressional Budget Office (.gov)
- Richest Gain Most and Poorest Face Steepest Cuts Under G.O.P. Law, Analysis Finds The New York Times
- Budget office says GOP’s ‘big, beautiful bill’ will make rich richer, poor poorer The Hill
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