Recent reports indicate that Trump's economic policies have disproportionately benefited the wealthy while negatively impacting lower-income Americans. Here are the key findings:
- Trump’s “Big, Beautiful Bill” – A new Republican-backed economic bill will provide $12,000 per year in tax cuts to the top 10% of earners while reducing benefits for the bottom 10%, costing them $1,600 per year. The bill includes $3.7 trillion in tax cuts and $1.3 trillion in spending cuts, primarily targeting Medicaid and food assistance programs.
- Congressional Budget Office (CBO) Analysis – The CBO found that the bill would increase resources for wealthy households while reducing resources for lower-income Americans. Around 16 million Americans are expected to lose health insurance due to Medicaid cuts.
- Wealth Inequality – The top 10% of households own over two-thirds of the nation’s wealth, and Trump's policies have exacerbated this divide. The bill is expected to add $2.4 trillion to the U.S. deficit over the next decade.
- Public Opposition – A Quinnipiac poll found that 53% of registered voters oppose the bill, with 87% supporting continued funding for Medicaid.
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