Impact and Details of Trump's 'Big, Beautiful Bill' on Taxes and Public Spending
The recently passed 'Big, Beautiful Bill' by President Trump is projected to benefit higher-income households significantly while causing some losses for the lowest income groups, particularly those in the bottom three deciles, due to impacts on social programs and tax changes. The bill is expected to increase household resources for the top decile by over $12,000 annually, whereas the lowest decile could lose around $1,559 per year, with effects lasting until 2034.