Dear editor,
“House Ways and Means Republicans have released their tax plan as part of the budget reconciliation process and as long expected, it provides enormous tax cuts for the wealthy while doing little for low- and moderate-income families. In 2027 those families would get little, while the average family making over $1 million would get cuts worth about $90,000.
“In fact, the $105 billion tax cut going to the one million households making over $1 million in 2027 exceeds the cut going to the 127 million households making under $100,000 (this figure, like the other figures here, have adjusted the Joint Committee on Taxation’s estimates to include the effects of the estate tax, which they do not include).
“These imbalances are even greater when taking into account proposed cuts to crucial health care and food assistance through Medicaid and SNAP, and that provisions benefiting wealthiest are permanent while families with lowest incomes would see an eventual tax increase.” (Center on Budget and Policy Priorities, May 14, 2025).
Above is excerpted from article with specific details. C.B.P.P. is private, and caricaturized as “progressive” and “liberal”. (Wikipedia)
“A tax and spending package passed Thursday by House Republicans, according to economists and tax experts funnels the bulk of its financial benefits to wealthy households. The rich benefit via a slew of tax cuts tied to businesses, the SALT deduction, the estate tax, income tax rates and opportunity zones.
“Lower earners would be worse off, on average, due to cuts to programs such as Medicaid and SNAP, formerly known as food stamps, analyses show.
”The Congressional Budget Office, a nonpartisan federal score-keeper, estimates income for the bottom 10% of households would fall by 2% in 2027 and by 4% in 2033 as a result of the bill’s changes. By contrast, those in the top 10% would get an income boost from the legislation: 4% in 2027 and 2% in 2033, CBO found.” (CNBC, 5/23/25)
“According to the nonpartisan Congressional Budget Office (CBO), the legislation will result in nearly 11 million people losing health insurance coverage over the next decade. The Medicaid provisions alone would result in 7.8 million people losing their insurance. Those coverage losses would equate to hundreds of billions of dollars in savings for the federal government.” (The Hill, June 9, 2025)
-Henry Tideman, Oregon
