Reported about 7 hours ago
A new analysis from the Congressional Budget Office indicates that President Trump's tax and spending law will adversely affect the poorest 10% of American households, costing them an average of $1,200 annually, while the wealthiest households are expected to gain an average of $13,600. The findings suggest that the financial burden on low-income families stems from cuts to social spending programs, while wealthier individuals benefit from tax breaks and cash transfers. Critics argue the legislation disproportionately favors the rich during a time of economic slowdown.
Source: YAHOO