Expert: Trump's beautiful bill will aggravate the gap between rich and poor
The impact on high-income people and low-income families contrasts sharply in a huge legislative package passed by House Republicans on Thursday, the Internet reported. Experts point out that most of the fiscal benefits in the Big Beautiful Act, including tax cuts for business owners, investors and homeowners in high-tax areas, will flow to the wealthiest Americans. The situation for low-income people will be even worse. This is mainly because Republicans have partially offset those tax cuts by cutting social protection programs. The Congressional Budget Office (CBO), a non-partisan federal review agency, estimates that the income of households in the bottom 10% will fall by 2% in 2027 and 4% in 2033 due to bill adjustments. In contrast, the income of households with the top 10% of income will increase by 4% in 2027 and 2% in 2033. (Jin Shi)
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