GOP tax overhaul brings uneven gains, bigger deficits and welfare shifts

The GOP’s signature tax bill combines broad cuts that mostly benefit higher earners (averaging about $2,300 per filer, with refunds up ~ $350) with substantial cuts to SNAP and Medicaid work requirements. It finances this with a large defense/homeland spending boost and tariff costs. The CBO projects deficits rising by about $3.4 trillion this decade as revenues fall roughly $4.5 trillion, offset by about $1.1 trillion in spending cuts, while millions could lose food aid or health coverage under Medicaid changes. Supporters argue it trims waste and incentivizes work; critics say it shifts resources from the poor to the wealthy and fuels higher debt.