NEWSLETTER
Thursday, July 10, 2025
  • Login
No Result
View All Result
JOURNOS NEWS
28 °c
Columbus
27 ° Fri
28 ° Sat
  • Home
  • World News
  • Business
  • Politics
  • Conflict and Crisis
  • Sports
  • Entertainment
  • Technology
  • Lifestyle
  • Science
  • Home
  • World News
  • Business
  • Politics
  • Conflict and Crisis
  • Sports
  • Entertainment
  • Technology
  • Lifestyle
  • Science
28 °c
Columbus
27 ° Fri
28 ° Sat
No Result
View All Result
JOURNOS NEWS
No Result
View All Result
Home Government and Politics Government Accountability

Who Wins and Loses in Trump’s New Tax and Spending Plan

Trump’s Megabill: Big Tax Cuts for the Rich, Deep Cuts for the Poor

by pinkfloyd
May 25, 2025
in Government Accountability, Government and Politics, Legislation, Presidential Power, Social Security & Benefits
0
Trump’s Economic Plan: More Debt, Fewer Benefits for the Poor - Ting Shen/Bloomberg/Getty Images

Trump’s Tax Bill: Help for the Wealthy, Cuts for the Needy - Ting Shen/Bloomberg/Getty Images

0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

How Trump’s “Big, Beautiful Bill” Shifts Wealth in America

House Republicans have pushed through a massive tax and spending bill, championed by former President Donald Trump, after an intense all-night session and last-minute revisions. Nicknamed the “one big, beautiful bill,” this sweeping package promises deep tax cuts—mostly benefiting the wealthy—while slashing aid programs like Medicaid and food stamps, which millions of lower-income Americans rely on.

The Big Picture: Who Gains, Who Loses

At the heart of the bill is a controversial trade-off. Wealthier Americans will enjoy the lion’s share of tax relief, while low-income families face reduced support through major cuts to social safety nets.

More RelatedPosts

RFK Jr. Endorses Medicaid Meal Provider Despite Ultraprocessed Food Concerns

South Korea Re-Arrests Ex-President Yoon Suk Yeol Over Martial Law Decree

Gamblers Warn of “Phantom Tax” in Trump’s Agenda Bill: Calls Grow for Urgent Repeal

Trump’s Trade Push Falters: Only 3 of 200 Promised Deals Completed Ahead of August Deadline

Load More
  • Top 20% of earners would receive 60% of the total tax cut, with the top 5%—those making over $460,000—getting more than a third of it.
  • Middle-income households would see modest tax savings, averaging about $1,840.
  • Lower-income Americans would see the smallest benefit: an average tax cut of just $160.

But those modest tax breaks may be wiped out by deeper spending cuts. The bill slashes nearly $1 trillion from federal aid programs over the next decade, with Medicaid losing about $700 billion and food assistance (SNAP) facing a $267 billion cut.

Deficit-Fueled Cuts and Expiring Promises

Despite the cuts, the bill is projected to add $3.1 trillion to the national debt over 10 years. That’s because it leans more heavily on tax reductions than spending restraint.

Many of the bill’s promises—including eliminating taxes on tips and increasing standard deductions for seniors—are set to expire after 2028. Critics say these temporary measures are designed to hide the true cost of the bill.

If Congress later makes all of these tax breaks permanent, it could balloon the deficit by an additional $5.1 trillion.

Who Feels It the Most?

Low-income Americans are expected to bear the brunt of the trade-offs:

  • Those earning up to $17,000 annually could see their income drop by 14.6%, or about $820 next year, when both tax changes and benefit cuts are factored in.
  • People earning between $17,000 and $51,000 would lose about $430 in annual income.
  • In contrast, those earning over $174,000 would gain over $12,000, or a 2.6% boost in income.

“These cuts will hit not just adults, but also children, seniors, and people with disabilities,” said Kent Smetters, director of the Penn Wharton Budget Model. “For many, the loss of benefits far outweighs the modest tax relief.”

The Political Road Ahead

The bill now heads to the Senate, where it faces a tougher path. Though Republicans can bypass a Democratic filibuster using budget reconciliation, they can only afford to lose three votes.

  • Some GOP senators want deeper cuts.
  • Others are uneasy about Medicaid restrictions.
  • One senator is pushing for a bigger child tax credit.

Plus, Senate rules may force the removal of any provisions unrelated to the federal budget.

If the Senate makes changes, the revised bill will return to the House for another vote. Trump and House Speaker Mike Johnson have proved effective in corralling support, but all eyes are now on new Senate Majority Leader John Thune to navigate the next phase.

A Debt Solution? Not Likely

Despite growing concerns over the $37 trillion national debt, lawmakers are still avoiding the hard conversations about long-term entitlement reform. The real drivers of federal spending—Medicare, Medicaid, and Social Security—remain largely untouched.

While this bill does trim Medicaid, it does so in tandem with generous tax breaks, resulting in more debt, not less. Meaningful changes to entitlement programs are considered politically dangerous, and both parties continue to sidestep the issue.

Bottom Line: Trump’s megabill may offer short-term relief for some taxpayers, but it does so at a high cost—both in terms of national debt and support for America’s most vulnerable. As the Senate takes up the legislation, the stakes couldn’t be higher for millions of Americans.

Source: CNN – How Trump’s megabill transfers wealth in the US

pinkfloyd

pinkfloyd

Related Posts

Robert F. Kennedy Jr. Touts ‘Healthy’ Medicaid Meals Labeled Ultraprocessed by Experts - AP Photo/Sean Murphy
Goverment Public Programs

RFK Jr. Endorses Medicaid Meal Provider Despite Ultraprocessed Food Concerns

July 10, 2025
Ex-President Yoon Suk Yeol Detained Again in Expanding Martial Law Investigation - Kim Hong-Ji/Pool Photo via AP
Asia

South Korea Re-Arrests Ex-President Yoon Suk Yeol Over Martial Law Decree

July 10, 2025
Gamblers May Owe Taxes on Money They Never Made—Thanks to New Rule in Trump’s Law - Yi-Chin Lee/Houston Chronicle/Hearst
Government and Politics

Gamblers Warn of “Phantom Tax” in Trump’s Agenda Bill: Calls Grow for Urgent Repeal

July 10, 2025
EU Nears Breakthrough with U.S. as Trump Struggles to Land Global Trade Deals - Sean Gallup/Getty Images
Government and Politics

Trump’s Trade Push Falters: Only 3 of 200 Promised Deals Completed Ahead of August Deadline

July 10, 2025
Trump Defends FBI Leaders as Epstein Speculation Grows Among Right-Wing Circles - Photo by NDZ/Star Max/GC Images
Government and Politics

Trump Allies Kash Patel and Dan Bongino Stoke Epstein Speculation Despite DOJ Denial

July 9, 2025
Karen Bass Slams Federal Immigration Raid in Los Angeles: “Un-American and Outrageous”
Foreign Policy

Karen Bass Slams Federal Immigration Raid in Los Angeles: “Un-American and Outrageous”

July 8, 2025
Tax Hikes, Betrayed Promises Fuel Calls for Ruto’s Resignation Across Kenya - Stefan Rousseau/PA via AP
Africa

Kenyans Turn Against President Ruto Over Broken Promises, Corruption, and Crackdowns

July 6, 2025
Musk Responds to Viral X Poll by Launching Third Party in Wake of Trump Bill - Francis Chung/Politico/Bloomberg via Getty Images
Government and Politics

Elon Musk Launches America Party After Trump Signs $3.3 Trillion Spending Bill

July 6, 2025
How Trump’s Massive Tax Bill Will Affect You: Key Takeaways from the New Legislation - AP Photo/Rod Lamkey, Jr.
Congress

Trump’s Big Tax and Spending Bill: What It Means for Businesses, Families, and Immigration

July 4, 2025
Load More
Next Post
Duck Dynasty Patriarch Phil Robertson Has Died at 79 - Jonathan Ferrey/Getty Images for Texas Motor Speedway

Duck Dynasty’s Phil Robertson Dies at 79, Family Honors His Faith-Filled Legacy

Kyle Larson, Bell, and Hamlin Headline a Stacked Field at Charlotte - Prime Video, PRN Radio, SiriusXM NASCAR Radio

Kyle Larson’s Quest for Double Victory Ends Early at Indy 500

Julian Fleming Faces Serious Injuries After Fatal ATV Crash - Icon Sportswire via Getty Images

Former Ohio State WR Julian Fleming Seriously Injured in ATV Crash

Trump Reacts to Russian Airstrikes in Ukraine: ‘Something’s Changed in Putin’ - Manuel Balce Ceneta/AP

Trump Condemns Putin’s Attack on Ukraine, Questions Zelensky’s Leadership

Ukraine Faces Relentless Bombardment While Prisoner Swap Offers Brief Hope - Ukrainian Emergency Service/AP

Russia’s Biggest Air Assault Hits Ukraine Again, Zelensky Urges Stronger US Response

Popular News

  • Robert F. Kennedy Jr. Touts ‘Healthy’ Medicaid Meals Labeled Ultraprocessed by Experts - AP Photo/Sean Murphy

    RFK Jr. Endorses Medicaid Meal Provider Despite Ultraprocessed Food Concerns

    0 shares
    Share 0 Tweet 0
  • Krishna Das Launches Free Yoga Teacher Training in Brazil’s Largest Favela

    0 shares
    Share 0 Tweet 0
  • Czech Republic Bans Chinese AI Firm DeepSeek Over National Security Concerns

    0 shares
    Share 0 Tweet 0
  • James Gunn’s ‘Superman’ Review: A Weird, Sentimental Reboot That Actually Works

    0 shares
    Share 0 Tweet 0
  • South Korea Re-Arrests Ex-President Yoon Suk Yeol Over Martial Law Decree

    0 shares
    Share 0 Tweet 0

Recommended

How Trump's Funding Freeze Sparks Fears of an Authoritarian Presidency - Carlos Barria/Reuters

The Chaos Behind Trump’s Power Play: Is He Overstepping His Bounds?

5 months ago
Why Israel’s Occupation of Mount Hermon Could Reshape the Middle East

Why Mount Hermon Matters: Israel’s Strategic Move After Assad’s Fall

7 months ago

Connect with us

  • About Us
  • Contact Us
  • Cookie Settings
  • Privacy Policy
  • Terms and Conditions
  • Support Press Freedom
  • Accessibility Statement
  • Advertising
  • Online Shopping
Breaking News That Keeps You Ahead.

Copyright © 2024 JournosNews.com All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • World News
  • Business
  • Politics
  • Conflict and Crisis
  • Sports
  • Entertainment
  • Technology
  • Lifestyle
  • Science

Copyright © 2024 JournosNews.com All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.