Experts: Trump's Big Beautiful Bill will widen the gap between the rich and the poor
in a massive legislative package passed by House Republicans on Thursday, the impact on high-income earners and low-income families formed a stark contrast. Experts pointed out that most of the financial benefits in the beautiful bill, including tax cuts for business owners, investors, and high-tax area homeowners, will flow to the wealthiest Americans. The situation for low-income earners will worsen.
This is mainly because Republicans are offsetting these tax cuts in part by cutting social security programs. The non-partisan federal assessment agency, the Congressional Budget Office (CBO), estimates that due to the adjustments in the bill, the income of the lowest 10% of households will decrease by 2% in 2027 and by 4% in 2033. In contrast, the income of the top 10% of households will increase by 4% in 2027 and by 2% in 2033.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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