The “One Big Beautiful Bill Act” will cost the lowest-income households in the country roughly $1,600 per year, according to an analysis by the Congressional Budget Office (CBO) released on Thursday.
That total amounts to a nearly 4% reduction in federal resources for households in the bottom 10% of the income distribution. The loss is primarily due to cuts in Medicaid and SNAP benefits, according to the nonpartisan CBO’s analysis.
