467_Aug 14th _A New Report for President Trump's Tax and Spending Law

[Jessica]

A new report  from the nonpartisan Congressional Budget Office says President Donald Trump's tax and spending law will mean less income for the poorest Americans while sending money to the richest.

 The 10% of the poorest Americans will lose roughly $1,200 a year because of cuts in medicaid and food assistance, while the rihest 10% of Americans will see their income increae by $13,600 from tax cuts.

House Ways and Means Committee chair Jason Smith says he doesn't buy it, adding the CBO has troubled track record of getting its estimates incorrect, and like Democrats, is biased in favor of more federal spending and higher taxes.

Ed Donnahue, Washington.