US EditionGOP tax bill would shrink incomes for low earners: Analysis
- The Republican-backed tax bill introduced in May 2025 proposes permanent tax cuts including raising the deduction cap from $10,000 to $30,000 and eliminating taxes on overtime and tips.
- The bill follows prior tariff policies under the Trump Administration, prompting debate as experts and the White House disagreed on the tariffs’ economic impact and the bill’s effects on different income groups.
- Analyses from the CBPP and Tax Policy Center found that high earners would gain substantially more, with the top 1% possibly seeing a 3% income rise while the lowest 20% would receive minimal after-tax boosts or even losses due to reduced benefits.
- White House spokesman Harrison Fields defended the bill as delivering "bigger paychecks" and permanent cuts despite five House Republicans opposing it for insufficient spending reductions, highlighting ongoing uncertainty over the bill’s future.
- If enacted, the bill could increase income inequality as top earners benefit most substantially, while some low-income households risk losing net income when tariff-related price hikes and benefit cuts are considered.
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GOP tax bill would shrink incomes for low earners: Analysis
Many different think tanks and legislative analysts in Washington have been sounding the alarm that the GOP bill to cut taxes and spending has greater advantages for wealthier taxpayers than it does for working Americans. But one group is projecting lower earners will not only receive smaller benefits from the bill but will actually be…
·Washington, United States
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