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GOP tax bill would cost poor Americans $1,600 a year and boost highest earners by $12,000, CBO says

GOP tax bill would cost poor Americans $1,600 a year and boost highest earners by $12,000, CBO says

The Republican tax bill approved by the U.S. House of Representatives would cost the poorest Americans roughly $1,600 a year while increasing the income of the wealthiest households by an average of $12,000 annually, according to a new analysis released Thursday by the Congressional Budget Office.

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