CBO Analysis Shows U.S. House GOP Budget Measure Tilted Toward Upper-Income Taxpayers
By Ashley Murray, States Newsroom
As House Republicans continue to wrangle over the “one big beautiful bill,” a new analysis released late Tuesday projects the massive reconciliation package would decrease resources for low-income families over the next decade while increasing resources for top earners.
The nonpartisan Congressional Budget Office (CBO) estimates that the lowest-earning households in the United States would see incomes decrease 2% in 2027, moving to a 4% loss in 2033, as a result of spending cuts to nutrition assistance and Medicaid, the health insurance program for low-income individuals and those with disabilities.
The CBO projects resources would meanwhile increase by 4% for the highest-earning Americans in 2027, moving down to a 2% increase by 2033, according to the latest analysis.
The CBO score could change as hardline conservatives press Republican leadership for increased spending cuts to federal safety net programs as a way to pay for, at least in part, the extension and expansion of 2017 tax cuts that come with a price tag of $3.8 trillion.
Representative Brendan Boyle, ranking member on the House Committee on the Budget, said in a statement late Tuesday that “Donald Trump and House Republicans are selling out the middle class to make the ultra-rich even richer.”
“This is what Republicans are fighting for—lining the pockets of their billionaire donors while children go hungry and families get kicked off their health care,” said the Pennsylvania Democrat.
The bill as written now would slash roughly $800 billion from Medicaid and Affordable Care Act provisions, and $300 billion from the Supplemental Nutrition Assistance Program, or SNAP, according to the left-leaning Center on Budget and Policy Priorities.
Lawmakers on the House Committee on Rules — the final stop for the 1,116-page package bill before it reaches a House floor vote — have been debating the measure since 1:00 a.m. Eastern Wednesday, while House Speaker Mike Johnson huddled separately with far-right deficit hawks.
Far-right members of the House Freedom Caucus remained skeptical the bill could reach the House floor by Johnson’s goal of Wednesday.
The Louisiana Republican leader also faces opposition from GOP lawmakers who represent high-tax blue states who want an even higher ceiling for the amount of state and local taxes, or SALT, their constituents can deduct from federal taxable income.
Lifting the ceiling, which lawmakers already proposed boosting from $10,000 to $30,000 for married couples filing jointly, will increase the cost of the bill.
Johnson needs nearly every GOP lawmaker to support the bill once it hits the floor as House Republicans have an extremely thin 220-213 majority.
Hilarious. "Tilted"? Talking about understatement. trump's MAGA Republican budget, beyond the extremist amendments lost in it, will cause millions of American to lose their healthcare, make health and home insurance more expensive for everyone, deprive children of food and that's just the beginning. All just so the billionaires can get even more tax breaks. Shameful and unChristian, if not downright evil. Not to mention blowing up the deficit!