What They Are Saying About Trump & Republicans’ Tax Giveaway To The Wealthy

Yesterday Senate Republicans unveiled their version of legislation to extend and expand the Trump tax cuts for the wealthy. While scores for their altered bill are still forthcoming, the changes from the House-passed version are unlikely to significantly alter that bill’s distributional effects, which would result in the largest transfer of wealth from working people to the rich from a single law in American history. As a reminder, here are some of the stories that legislation generated: Wall Street Journal: GOP Megabill Boosts Wealthy Households While Hurting Poor, CBO Says New York Times: Trump’s Big Bill Would Be More Regressive Than Any Major Law in Decades CBS: GOP Tax Bill Could Cost Low-Income Americans $1,600 Per Year, CBO Says Associated Press: GOP Tax Bill Would Cost Poor Americans $1,600 A Year And Boost Highest Earners By $12,000, CBO Says CNN: The 10 Richest Americans Got $365 Billion Richer In The Past Year. Now They’re On The Verge Of A Huge Tax Cut Washington Post: GOP Tax Bill Could Hurt The Poorest Households More Than It Helps Them Bloomberg: Trump Tax Bill Would Help the Richest, Hurt the Poorest, CBO Says Reuters: Trump Tax Bill Poses Limited Benefits, Higher Costs For Lower-Income Americans New York Times: G.O.P. Tax Bill May Hurt the Lowest Earners and Help the Richest NPR: The GOP's Massive Bill Would Benefit The Rich The Most — While Hitting The Poor Financial Times: Donald Trump’s Tax Bill Would Be A Boon For Richest Americans, Says Watchdog Politico: Wealthy Gain, Low-Income People Lose From GOP Megabill, Analysis Finds CNBC: House Republican Tax Bill Favors The Rich — How Much They Stand To Gain, And Why