Trump’s big bill passes House
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Hundreds of thousands of low-income residents in the state could lose food assistance and health care coverage, leading to an even greater divide between rich and poor.
The tax provisions of the House Republican reconciliation bill double down on the failures of the 2017 tax law, which was skewed in favor of the richest people in the country, further eroded the nation’s revenue base,
This bill gives enormous additional tax cuts to wealthy people and corporations, spikes the deficit, and strips health care from millions of Americans.
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Explícame on MSNRepublican bill and millionaires: Does it make it easier to avoid the tax rate?The Republican tax bill, a cornerstone of Donald Trump's agenda, has sparked debate over its impact on wealthy Americans. Critics argue it shields the rich from higher taxes, maintaining provisions that benefit them.
Behind the GOP's populist facade lies a tax plan that would benefit corporations and wealthy households while cutting programs like Medicaid and SNAP.
The sprawling tax and spending bill before the House of Representatives would cut more than $200 billion from food assistance, potentially affecting 4 million children and 7 million adults, while providing an estate tax cut costing roughly the same amount to a few thousand people who will leave behind more than $7 million to their heirs.
Despite a brief market scare, the richest 10 Americans got $365 billion richer over the past year, according to a new analysis from Oxfam.
The greatest benefits would go to high-income households, while low-income families would see a much more modest boost, analyses show.