News

Trump tax law could cause Medicare cuts if Congress doesn’t act, CBO says

WASHINGTON (AP) — The federal budget deficits caused by President Donald Trump’s tax and spending law could trigger automatic ...

Trump’s tax law will mostly benefit the rich, while leaving poorer Americans with less, CBO says

President Donald Trump’s tax and spending law will result in less income for the poorest Americans while sending money to the ...
FOX 13 Tampa Bay3d

Trump's tax law will benefit the rich at the cost of the poor, CBO analysis finds

The Congressional Budget Office estimates that the poorest Americans could lose more income annually compared to rich people ...

Budget gap created by Trump tax bill likely means cuts to some Colorado Medicaid services

Colorado faces a roughly $783 million budget shortfall because of federal tax changes that cut into the state’s revenues.

Trump’s ‘no tax on overtime’ is now US law — but some Americans don’t even qualify. Here’s the catch

Additionally, “no tax on overtime” is a federal income-tax change only. State and local income taxes still apply (unless your ...

'Trump Account' newborns could have $1.9M by 28, Treasury Dept. says — here's what's required to get that much

When the One Big Beautiful Bill was signed into law on July 4, it created a new account for children. The so-called “Trump ...

Newborns with $1K Trump Accounts could have $1.9M by 28, Treasury Dept. says — here's how much you'd need to invest each year to get that number

When the One Big Beautiful Bill was signed into law on July 4, it created a new account for children. The so-called “Trump ...

Trump tax law could trigger about $500B in Medicare cuts over decade without fix: CBO

Recent analysis from the Congressional Budget Office estimated that Medicare spending would see steep cuts over roughly the ...

Veterans may be denied food stamps under Trump’s new tax law

In 2026, veterans must prove they're working for at least 80 hours monthly to keep food stamps beyond three months.

Trump’s tax law is even better for rich people than originally thought. Here’s how much more the top 10% stand to gain.

The nonpartisan Congressional Budget Office has an estimate of how much Americans stand to gain — or lose — from the new law.

10 million Americans will go uninsured due to Trump tax and spend law, CBO estimates

Ten million more Americans will be uninsured in the next decade due to changes in President Donald Trump's tax and spend law, ...

Blue states plan new tax hikes on wealthy residents in response to Trump's federal tax legislation

Several states have raised taxes on wealthy residents to narrow state budget deficits and offset expected declines in federal funding for programs like Medicaid.