John,

While the majority of voters with incomes between $30,000 and $100,000 voted for Donald Trump in the recent election, citing “needed change”, who actually wins from his tax and economic policies?

The poorest 20% of taxpayers with incomes up to $28,600 will pay $790 more in taxes in 2026 if the full Trump tax package is enacted.¹

The middle 20% of taxpayers with incomes between $55,000 and $94,000 will pay $1,530 more in taxes, including tariff increases.

But the richest 1%, with incomes of $914,900 or more would see their taxes cut.

Elon Musk exemplifies who will win in the new Trump administration―seeing his taxes cut even further while enriching himself through government contracts. And now he’s been tapped by President-elect Trump to lead a new commission known as the “Department of Government Efficiency,” which is expected to recommend extreme cuts that will threaten public health and safety, cripple civil servants’ capacity to protect against corporate excess, cut the IRS’s ability to collect taxes owed by the wealthiest Americans, increase poverty and hardship, and close off the opportunities that education and equitable public investment can provide.

Musk even acknowledged that the cuts he and Trump are seeking will cause “temporary hardship”.² But you can bet that he won’t be the one feeling the pain.

Whether it’s in the final month of 2024 or looking ahead to the next session of Congress, our work advocating for low-income families and fighting to ensure the wealthy pay their fair share in taxes is more critical than ever. Donate today to power our advocacy for human needs.

Elon Musk and the richest 1% will benefit not just from tax breaks for wealthy individuals, but also from Trump’s corporate tax policies. Since 2017, even as corporate profits rose by 44%, corporate taxes fell by 16% as a result of the 2017 Trump tax scam.³

Who benefits? The richest 1%. In fact, more than half of “pass-through deduction” tax cuts went to millionaires―$31.6 billion.⁴

We’re fighting to maintain tax policies that benefit low-income and working people, such as health care tax credits that make Affordable Care Act insurance more affordable for millions of people and families. But Donald Trump, Elon Musk, and congressional Republicans are seeking to end those policies to pay for even more tax cuts for the rich.

Donate today to power our advocacy this year and next as we fight to ensure low-income and working families are not left behind.

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At a time when the right-wing seeks to cut $2 trillion from programs like Medicaid, SNAP, SSI, the Affordable Care Act, housing, education, transportation, public health, child care, and more, our work is more critical than ever.⁵

Thank you for your critical support and advocacy. Together, we must not give up; we must not look away. Millions of people and families across the country are relying on us now.

Deborah Weinstein
Executive Director, Coalition on Human Needs

[1] Average Tax Changes from Trump’s Tax Proposals, by Category, in 2026
[2] Musk agrees his cuts would cause economic pain. But, if elected, could Trump and his Republican allies stomach it?
[3] Corporate Taxes Before and After the Trump Tax Law
[4] The 2017 Tax Bill’s Pass-Through Deduction Largely Favors the Wealthy and Encourages Gaming of the Tax Code
[5] Musk Tells Trump Rally He Can Cut $2 Trillion From US Budget