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Trump tax law mostly benefits the rich, leaves poorer with less, CBO says

Trump tax law mostly benefits the rich, leaves poorer with less, CBO says
nation8/11/2025

President Donald Trump’s tax and spending law will result in less income for the poorest Americans while sending money to the riches, according to a new report from the nonpartisan Congressional Budget Office.

WASHINGTON (AP) — President Donald Trump’stax and spending law will result in less income for the poorest Americans while sending money to the richest, the nonpartisan Congressional Budget Office reported Monday. The CBO estimates that the 10% of poo... [2739 chars]