The Congressional Budget Office report has just shed more light on President Donald Trump’s One Big Beautiful Bill Act.
Between 2026 and 2034, household resources are projected to rise overall, but the gains are stacked in favor of the wealthy, the CBO says.
If you are in the bottom 10% of earners, the CBO says you will lose about $1,200 a year, largely because of cuts to Medicaid and SNAP — a 3% hit to already tight budgets — while middle-income families will see a small bump of about $800 to $1,200 a year. The top 10% will get an extra $13,600 annually, driven by massive tax breaks, including extensions from Trump’s 2017 tax law and an estate tax cut.
While the White House is touting more money for households, the CBO’s numbers show the bill widens the gap between rich and poor.
Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.
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