Trump's Tax Policy Criticized for Disproportionately Benefiting Wealthy Americans

Source Summary

The House passed Trump's One Big Beautiful Bill Act, which includes a $5 trillion-plus tax cut paired with over $1 trillion in cuts to food stamps and Medicaid. House Speaker Mike Johnson claimed the tax cuts benefit small business owners, but critics argue the policy overwhelmingly serves millionaires' interests and deprives the government of tax revenue.