The nonpartisan Congressional Budget Office reports that President Donald Trump’s tax and spending law will send the biggest benefits to the wealthiest Americans while cutting support for the poorest, according to The Associated Press.
The CBO estimates the bottom 10% of earners will lose about $1,200 annually because of restrictions on Medicaid and food assistance, while the richest 10% will gain roughly $13,600 from tax cuts.
About 2.4 million people could lose eligibility for food aid under new work requirements, and more than 10 million could be uninsured by 2034 because of Medicaid changes.
While middle-income households will see some gains, the CBO says the top earners reap the largest rewards — prompting critics to call it a “big, beautiful bill for billionaires.”
Click play to listen to the AURN News report from Clay Cane. Follow @claycane & @aurnonline for more.
