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Congressional Budget Office: “Big Beautiful Bill” Will Further Widen Wealth Gap

HeadlineAug 12, 2025

Congress’s budget arm reported Monday that Republicans’ massive tax-and-spending legislation dubbed the “One Beautiful Bill” will further widen the gap between rich and poor. The Congressional Budget Office found the wealthiest 10% of households are set to take home an additional $13,600 a year, while the poorest 10% will lose some $1,200 in annual income and benefits. Some 4 million people — including a million children — will lose significant amounts of food aid.

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