The Truth About trumpty's Big, Horrible Budget

Two Ways a 2025 Federal Tax Bill Could Worsen Income and Racial Inequality

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Trump Lies That His Bill Cuts Taxes For Everyone, When It Raises Them on the Poor

According to an analysis by Congress’ Joint Committee on Taxation, Trump’s reconciliation bill will raise taxes on Americans earning under $15,000 in 2027. 

By 2029 and going forward, the legislation will continue to increase taxes on those individuals, as well Americans earning between $15,000 and $30,000.

Millionaires, meanwhile, will see tax cuts in each year included in the analysis. In two of four years, according to the JCT analysis, millionaires will see a larger average decrease in their tax rate than Americans will overall

From 2027 to 2033, Americans earning under $30,000 are expected to pay collectively nearly $18 billion more in taxes. 

At the same time, individuals who earn more than $1 million will collectively receive tax cuts totaling $242 billion.

Republicans’ legislation would only temporarily cut taxes on tips and overtime pay, which were two of Trump’s key 2024 campaign promises — “as opposed to the cuts for the richest 1 percent, which they made permanent.”

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Murphy On Meet The Press: GOP Tax Plan Is Greatest Transfer Of Wealth In The History Of The Country