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Senate GOP tax bill hurts the poor more than originally thought, CBO finds

Senate GOP tax bill hurts the poor more than originally thought, CBO finds | 26 Nov 2017 |The Senate Republican tax plan gives substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation's poorest would be worse off, according to report released Sunday by the nonpartisan Congressional Budget Office. Republicans are aiming to have the full Senate vote on the tax plan as early as this week, but the new CBO analysis showing large, harmful effects on the poor may complicate those plans...By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill, CBO found. By 2021, Americans earning $40,000 or less would be net losers, and by 2027, most people earning less than $75,000 a year would be worse off.