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Republicans' $4.5 Trillion Tax Cut: Rich Win, Americans Lose

8/6/2025

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Summary

Story summary

Republicans employed misleading accounting to push through a staggering $4.5 trillion tax cut, falsely asserting it would only cost $715 billion. By bending budget rules, they minimized the deficit's impact, celebrating the cut's enormity. While average Americans see minimal benefits, the richest reap substantial rewards, all at the expense of vital programs like Medicaid.

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Story summary

Republicans employed misleading accounting to push through a staggering $4.5 trillion tax cut, falsely asserting it would only cost $715 billion. By bending budget rules, they minimized the deficit's impact, celebrating the cut's enormity. While average Americans see minimal benefits, the richest reap substantial rewards, all at the expense of vital programs like Medicaid.