Trump's Tariffs and Tax Cuts: Who Benefits the Most?

Tariffs are also impacting Americans' wallets. Martha Gimbel, cofounder and executive director of the Yale Budget Lab, notes that tariffs tend to have a disproportionate impact on low and middle-income consumers because they tend to spend a greater share of their income on goods. Key Takeaways Get personalized, AI-powered answers built on 27+ years of trusted expertise. President Donald Trump's first year in office ushered in significant change, from tariffs to massive tax legislation. But not everyone bene ...