House Republicans Pass Tax Bill Boosting Wealthy, Cutting Social Programs

The recent House Republican tax and spending package, dubbed the "One Big Beautiful Bill Act," heavily favors wealthy Americans through substantial tax cuts for business owners, investors, and high-income homeowners, while low-income households face income reductions largely due to cuts in social safety net programs like Medicaid and SNAP. According to the Congressional Budget Office, the bottom 10% of households could see income declines of 2% by 2027 and 4% by 2033, whereas the top 10% would experience income gains of 4% and 2% respectively, with the top 1% benefiting the most. Critics argue that the bill exacerbates economic inequality and compounds regressive policies, while Democratic leaders underscore the harm to working families and accuse Republicans of prioritizing billionaires. Republicans have dismissed the CBO's findings, challenging the accuracy of its projections. Meanwhile, some commentators emphasize that high earners already bear a disproportionate share of federal income taxes, challenging the narrative that the wealthy do not pay their fair share. The legislation also includes temporary tax benefits for lower earners that expire by 2028, with Medicaid cuts starting in 2029, raising concerns about the bill's long-term impact on vulnerable populations.