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News in English (USA) / 13.06.2025 / 00:00

GOP Tax Bill Favors Wealthy at Expense of Low-Income Americans, CBO Reports

The Congressional Budget Office (CBO) has released a report indicating that the Republican megabill proposed by Donald Trump would disproportionately benefit the richest Americans while inflicting significant financial burdens on low-income households. According to the CBO, this bill could cost the poorest Americans approximately $1,600 annually, while providing an average tax break of $12,000 to top earners. Critics argue that the bill exacerbates income inequality, with wealthier households gaining substantial advantages. Economists have raised concerns about potential inflation and a looming financial crisis, as well as the broader implications for the national debt. While the Trump administration asserts that the bill will stimulate economic growth, many experts maintain that it is unlikely to deliver the promised benefits, leading to skepticism about its effectiveness and fairness.
Financial Times, The New York Times, Politico, The Hill, Bloomberg.com, NPR, MSNBC News, The American Prospect, rollingstone.com, Reason Magazine