The GOP Tax Plan Makes the Rich Even Richer & Hurts the Poorest Americans:
- Gives the richest 0.1% an average tax break of over $250,000 in a single year while increasing taxes on the poorest 20% of Americans. (JCT)
- Gives more than $400,000 in annual tax breaks, on average, to households making more than $5 million per year. (TPC)
- Increases costs for nearly 80 million poor and middle class households. (Wharton)
The GOP Tax Plan Kicks Millions Off Their Health Insurance:
- At least 13 million Americans will lose health insurance because of cuts to Medicaid and the Affordable Care Act (ACA). (CBO)
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- At least 8.6 million by cutting Medicaid
- At least 5 million by gutting the ACA
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The GOP Tax Plan Raises Costs for Everyday Americans:
- Health Care: Causes health care costs to skyrocket for 20 million Americans – by an average of $700 per year – by failing to extend ACA tax credits. (CBPP)
- Groceries: Raises grocery costs and cuts food assistance for at least 3 million Americans (CBO)
- Education: Makes college more expensive for one in three college students by cutting Pell Grants and increases costs for 42 million Americans with student loan debt. (NCAN/NSLDS)
- Energy: Raises energy costs for households by as much as 7%. (CEBA)
Musk’s DOGE Cuts & Tariff Cost Increases: The Trump-Musk administration is partially paying for their tax plan by raising costs and gutting critical services.
- Cost Increases: Increasing costs by $4,000 a year for the average household from Trump’s reckless, across-the-board tariffs. (YBL)
- Social Security: Jeopardizing seniors’ access to benefits by eliminating phone services, closing dozens of offices, and firing 12% of employees. (WaPo, AP, NYT)
- Veterans’ Benefits: Cutting 20% of the VA workforce, causing delays in getting life-saving medication and care to veterans. (AP, VoteVets)
- Public Schools: Eliminating more than 180,000 teaching positions, serving 2.8 million students, by eliminating the Department of Education (CAP).
- Musk’s Profit: Musk is slashing programs Americans rely on to fund tax cuts for himself – their plan saves Musk at least $50 million over the next decade. (ATF)
The GOP Tax Plan Will Explode the Debt:
- Adds at least $3 trillion to the deficit. (CRFB)