Trump Tax Law Hurts Poor, Benefits Rich, CBO Reports | JQJO

The Congressional Budget Office (CBO) reports that President Trump's tax law will reduce income for the poorest Americans by roughly $1,200 annually due to cuts in programs like Medicaid and food assistance, while increasing the richest 10%'s income by $13,600. The CBO estimates 2.4 million will lose SNAP benefits due to new work requirements. Republicans defend the law, citing economic growth, while Democrats criticize it for harming low-income Americans and increasing the national debt. The bill's impact on healthcare is also projected to leave over 10 million uninsured by 2034.