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

WASHINGTON — President Donald Trump ’s tax and spending law will result in less income for the poorest Americans while sending money to the richest, the nonpartisan Congressional Budget Office reported Monday. The CBO estimates that the 10% of poorest Americans will lose roughly $1,200 a year as they experience restrictions on government programs like Medicaid and food assistance, while the richest 10% of Americans will see their income increase by $13,600 from tax cuts. Overall, American households will see more income from the tax cuts in the