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    Common Dreams. To inform. To inspire. To ignite change for the common good.
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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    institute on taxation and economic policy

    White House Coverage

    GOP Megalaw Will Mean Tax Hikes for Many Poor Americans as Soon as 2026: Analysis

    "The central fiscal priority in the megabill is to reward the wealthiest Americans with even more tax cuts, but to try to disguise that as a boon for working families," one policy expert told Common Dreams.

    Stephen Prager
    Jul 24, 2025

    The Republican budget law that passed earlier this month—which hands out lavish tax breaks to the wealthiest Americans—will result in increased taxes on the poorest 40% of the country's poorest as early as 2026.

    Many of low-income Americans will already see net losses to their income due to the law's drastic cuts to Medicaid and food stamps. However, most of those cuts will not begin to hit for multiple years.

    Keep ReadingShow Less
    News
    one big beautiful bill act
    President Trump Participates In Invest America Roundtable At The White House

    Trump-GOP Budget Bill Will Give Top 1% Over $1 Trillion in Tax Breaks: Analysis

    The amount set to flow to a "tiny sliver of affluent families" over the next decade is roughly equal to the Medicaid cuts included in the Republican bill, according to the Institute on Taxation and Economic Policy.

    Jake Johnson
    Jul 03, 2025

    An analysis released Thursday estimates that the Republican legislation on the brink of final passage in Congress would deliver over $1 trillion in combined tax breaks to the richest 1% of Americans over the next decade—an amount roughly equal to the bill's unprecedented cuts to Medicaid.

    The new analysis by the Institute on Taxation and Economic Policy (ITEP), which utilizes data from the nonpartisan Joint Committee on Taxation and other sources, finds that the "tiny sliver of affluent families" in the top 1% of the U.S. income distribution will "receive tax cuts totaling $1.02 trillion over the next decade."

    Keep ReadingShow Less
    News
    trump tax cuts
    House Ways and Means Committee Chairman Rep. Jason Smith

    Nonpartisan Analysis Confirms: GOP Tax Cuts Would Come Nowhere Close to Paying for Themselves

    "Republicans are out here pretending their tax bill will be the single greatest boost to the economy ever, and JCT says they only get a minuscule boost."

    Jake Johnson
    May 23, 2025

    An analysis released Thursday by the nonpartisan Joint Committee on Taxation found that the tax cuts at the center of Republicans' massive reconciliation package would do little to boost economic growth—and would not come anywhere close to paying for themselves.

    The JCT report, published hours after Republicans pushed the bill through the House, estimates that the tax cuts would boost the nation's average annual economic growth by 0.03 percentage points over the next decade—hardly the explosion of growth that GOP lawmakers and President Donald Trump have promised.

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    tax cuts

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