July 2, 2025
The House-passed "One Big Beautiful Bill," supported by President Trump and House Republicans, offers significant tax benefits to high-income earners while reducing support for safety net programs. According to simulations from the Penn Wharton Budget Model, wealthy Washington D.C. residents could receive tax savings of nearly $10,000-$12,000, while lower-income families gain minimal benefits or suffer net losses when factoring in program cuts. The legislation would slash Medicaid by over $900 billion and SNAP by nearly $300 billion over a decade, disproportionately impacting low-income communities.
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Read full article from source: The Washington Informer