Impact of Trump's 'Big, Beautiful Bill' on Taxes, Budget, and Social Programs
TL;DR Summary
The recent tax bill passed by President Trump is projected to benefit higher-income households significantly, with the top decile gaining an average of $12,044 annually, while the lowest-income households are expected to lose an average of $1,559 per year, according to the Congressional Budget Office, which also highlighted potential impacts on social benefits for certain low-income groups.
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