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institute on taxation and economic policy
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.
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."
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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."
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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GOP Bill Gives Rich Funders of Deeply Unpopular School Privatization 'A Lucrative Tax Shelter'
"The House tax plan would create a system that treats people supporting private K-12 vouchers far more generously than donors to children's hospitals, veterans' groups, and every other cause imaginable."
May 16, 2025
Embedded in the House GOP's advancing reconciliation package is a major, long-sought victory for school privatization advocates that would let rich funders of vouchers avoid taxation, a change that opponents warned would supercharge the right-wing assault on public education.
The measure, which resembles the GOP-authored Educational Choice for Children Act (ECCA), was tucked into the House Republican tax legislation that passed out of the chamber's Ways and Means Committee earlier this week.
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