Overview

• GOP senators including Ron Johnson and Rand Paul have voiced concerns over the bill’s cost and its impact on national debt
• The CBO estimates the legislation would add $2.4 trillion to the U.S. deficit over the next decade
• Top-earning 10% of households stand to gain an average of $12,000 per year through tax cuts while the bottom 10% would lose about $1,600 annually due to cuts in Medicaid and SNAP
• Middle-income households could see modest increases of $500 to $1,000 per year, reflecting smaller tax relief without equivalent benefit reductions
• The Senate is considering amendments to scale back work requirements and benefit cuts after the CBO warned that millions could lose Medicaid coverage by 2034