Experts: Trump's "Beautiful Big Plan" will exacerbate wealth disparity.

GateUser-6433627c · 2025-05-24T14:24:01+00:00

The "Beautiful Act" passed by the House Republicans contrasts sharply with high-income earners and low-income families. Most financial benefits flow to the wealthy, while low-income individuals are more adversely affected by cuts to social security programs. According to estimates by the Congressional Budget Office, by 2033, the income of the lowest 10% of households will decrease by 4%, while the income of the highest 10% of households will increase by 2%.

GateUser-6433627c

2025-05-24 14:24:01

Abstract generation in progress

In a sprawling legislative package passed Thursday by House Republicans on May 24, the impact on high- and low-income families starkly contrasted. Experts point out that most of the fiscal benefits in the Big Beautiful Act, including tax cuts for business owners, investors and homeowners in high-tax districts, will go to the wealthiest Americans. The situation for low-income earners will be even worse. That’s largely because Republicans partially offset these tax cuts by cutting Social Security programs. The Congressional Budget Office (CBO), a nonpartisan federal assessment agency, estimates that the income of households in the bottom 10 percent will fall by 2 percent in 2027 and 4 percent in 2033 as a result of bill adjustments. In contrast, the income of the top 10% of households will increase by 4% in 2027 and 2% in 2033. ( gold ten )

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