Wealthy Gain, Low-Income Lose in New Tax Bill | JQJO

The House Republicans' "One Big Beautiful Bill Act" disproportionately benefits high-income earners through tax cuts for businesses, investors, and homeowners in high-tax areas. Conversely, low-income households face losses due to cuts to social safety net programs like Medicaid and SNAP. The Congressional Budget Office projects a 2-4% income decrease for the bottom 10% by 2033, while the top 10% see a 2-4% increase. Analyses show significant income disparities, with the top 20% gaining an average of $9,700 in 2027, while the bottom 20% lose about $800. The bill now moves to the Senate.