(C) Common Dreams
This story was originally published by Common Dreams and is unaltered.
. . . . . . . . . .
Megabill Is On its Way to Trump: Here’s What its Tax Changes Mean for Families Across the U.S. [1]
['Brett Wilkins', 'Common Dreams Staff', 'Brad Reed']
Date: 2025-07-03 21:16:38+00:00
The House of Representatives today narrowly passed a massive tax and spending reconciliation bill that now heads to President Trump’s desk. Please see below for a statement from ITEP and our latest updated analysis of how the bill’s tax provisions will affect families at different income levels nationally and in every state.
STATEMENT from AMY HANAUER, EXECUTIVE DIRECTOR OF THE INSTITUTE ON TAXATION AND ECONOMIC POLICY:
“This abominable bill will make history – in appalling ways. Never before has legislation taken so much from struggling families to give so much to the richest. It makes the biggest cuts to food aid for hungry families, executes the largest cuts to health care ever, adds trillions to the national debt – all to give $117 billion to the richest 1 percent in a single year. It’s no wonder that this bill is also extremely unpopular. Historians – and voters – will look back at this as a dark day in U.S. history.”
BY THE NUMBERS:
Analysis of Tax Provisions in the Senate Reconciliation Bill: National and State Level Estimates
The megabill’s tax impact is highly regressive, a regressivity that is amplified by the legislation’s deep cuts to health care, food assistance, and other services:
[END]
---
[1] Url:
https://www.commondreams.org/newswire/megabill-is-on-its-way-to-trump-heres-what-its-tax-changes-mean-for-families-across-the-u-s
Published and (C) by Common Dreams
Content appears here under this condition or license: Creative Commons CC BY-NC-ND 3.0..
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/commondreams/
