GOP tax bill would make the rich even richer--at poor people's expense
President Donald Trump's "One Big Beautiful Bill" that House Republicans are trying to ram through the chamber would be the "largest transfer of wealth from the poor to the rich in a single law in U.S. history," according to a report published Wednesday by the Center for American Progress, a liberal think tank.
The bill, if passed, would lead to at least 13.7 million people losing their health insurance. It would also impose massive cuts to the Supplemental Nutrition Assistance Program—better known as “food stamps”—that would put nearly 11 million people at risk of losing the ability to feed their families. And it will make college more expensive by eliminating subsidized federal student loans, meaning loans would start accruing interest as soon as students take them out rather than once they leave school.
And Republicans are doing all of this only to partly pay for an extension of the tax cuts they passed in 2017, which have overwhelmingly benefited the richest taxpayers while giving the lowest-income Americans pennies. Data from Congress’ Joint Committee on Taxation found that the bottom 20% of taxpayers would see their annual after-tax income increase by just $90, which amounts to $7.50 per month. Meanwhile, the top 1% of earners would get a $64,770 annual tax cut.
"Taken as a whole, this bill would harm Americans—particularly the most vulnerable people—and leave the country worse off,” the Center for American Progress wrote in their analysis of the bill. “It would lead to preventable deaths by taking health care away from millions of people. It would worsen food insecurity by taking food away from the hungry, particularly kids. It would leave the United States on a significantly worse fiscal trajectory by adding trillions of dollars to structural deficits. Budgets showcase our morality because they force governments to decide how to prioritize limited resources. The House Republican budget plan would shift funding away from the sick and hungry and, instead, toward the wealthiest Americans."
https://www.dailykos.com/stories/2025/5/14/2322318/-GOP-tax-bill-would-make-the-rich-even-richer-at-poor-people-s-expense