Changes in the Budget Bill Will Affect Family Incomes

• The poorest households may lose up to $1,600 a year due to cuts in social program funding.
• The richest 10% will gain up to $12,000 more, increasing their average income.
• About 20 million children may lose part of their tax benefits due to new requirements, making it harder to access assistance.

This is reported by NBC News, Marca.

June 13, 2025 / Source: CNBC

A new bill, known as "One Big Beautiful Bill," is currently being discussed in the U.S., which proposes changes aimed at improving the financial situation of families. However, according to Congress, not all demographic groups will benefit from these changes.

Impact on Low-Income Families

According to an analysis by the Congressional Budget Office, the poorest 10% of households may lose approximately $1,600 a year, which represents 4% of their total income. The main losses are associated with cuts in funding for Medicaid and food assistance programs.

Increased Tax Benefits for the Rich

At the same time, the richest 10% of households may receive about $12,000 more per year. Average monthly incomes will also rise, but only slightly — by approximately $500-$1,000.

Children at Risk of Losing Assistance

The new legislation may affect children, as about 20 million children will not receive the full child tax credit due to new requirements that raise the minimum income to qualify for the benefit. The food assistance system is also changing, which could lead to cuts in aid for more than 2 million children.

Additional Barriers to Accessing Assistance

The planned changes include the introduction of new requirements for obtaining tax credits, which may complicate access to assistance for low-income families. If the bill is passed, families with children may face increased healthcare costs and reduced access to healthcare.

Thus, despite promises of improvements for working individuals, the bill may lead to serious consequences for the most vulnerable segments of the population.

Теги: США/Економіка