A report from the Congressional Budget Office (CBO) indicates that the Republican tax bill, approved by the U.S. House of Representatives, could result in the poorest Americans losing around $1,600 per year, while the wealthiest households might see an average increase of $12,000 annually. Middle-income households could experience a yearly rise of about $500 to $1,000. The suggested cuts for low-income households come from reductions in social welfare programs like Medicaid and the Supplemental Nutrition and Assistance Program. The bill also proposes stricter work rules for food assistance and new "community involvement requirements" for Medicaid. Some Republicans, including Treasury Secretary Scott Bessent, disagree with the CBO's findings, claiming that not passing the bill could lead to serious economic issues. Nevertheless, the CBO has stated that the tax bill's expense would be balanced by income from tariffs.