A new analysis from the nonpartisan Congressional Budget Office shows the Republican budget bill would hurt working Americans while benefiting the wealthiest households. The report finds the poorest 10 percent of Americans would see household resources decline by 4 percent by 2033, mainly due to cuts in Medicaid and food assistance programs. Meanwhile the richest 10 percent would gain 2 percent in resources mostly from reduced taxes.
“The nonpartisan Congressional Budget Office’s unprecedented analysis has confirmed what Democrats have known to be true — the GOP Tax Scam will hurt working families the most while delivering massive tax breaks for billionaires like Elon Musk,” said Democratic Leader Hakeem Jeffries.
The bill would increase the federal deficit by $3.8 trillion while cutting $698 billion from Medicaid and $267 billion from the Supplemental Nutrition Assistance Program (SNAP). These changes could cause millions of families to lose access to essential healthcare and nutrition support, disproportionately affecting children, seniors and low-income households.
“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 Ranking Member Brendan F. Boyle.
The fast push to pass the bill through the House Rules Committee suggests an effort to limit public scrutiny. The analysis highlights a sharp contrast between Republican claims of supporting working Americans and the bill’s actual effects, which shift resources to the ultra-rich while deepening hardships for vulnerable populations.
