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Sen. Orrin Hatch, R-Utah, speaks to reporters following the weekly Republican policy luncheon on Capitol Hill. Photo: Susan Walsh / AP

The Congressional Budget Office's analysis of the Senate GOP tax plan shows it would hurt Americans earning less than $30,000, The Washington Post reports, and it would hurt them more than originally thought. Republicans like Senate Finance Committee Chairman Orrin Hatch say the bill helps everyone, regardless of income.

The cause: Those earners would be getting less government aid for health care since the bill would get rid of the individual mandate from the Affordable Care Act, per the CBO.

The CBO also reports:

  • Those earning under $40,000 are all losing out with the tax bill.
  • The bill would add $1.4 trillion to the deficit over the next decade, just under the $1.5 trillion limit.
  • Health insurance premiums would rise, with 4 million Americans losing insurance by 2019, a number that spikes to 13 million by 2027.
  • When the Joint Committee on Taxation only takes into account the tax impacts of the Senate bill, all income groups receive a tax cut, although in 2027, after the individual tax cuts expire, that benefit goes away.

Go deeper

36 mins ago - World

Barbados becomes a republic, replacing U.K. queen with president

Combination images of Dame Sandra Mason, president of Barbados, and Britain's Prince Charles at her swearing-in ceremony in Bridgetown, Barbados, late Monday.

Barbados officially became a republic at midnight local time after Dame Sandra Mason was sworn in as the Caribbean nation's first president in a ceremony attended by the United Kingdom's Prince Charles.

Why it matters: Mason replaced Britain's Queen Elizabeth as head of state Tuesday — removing the country's final remaining colonial tie to the U.K. almost 400 years after the first British ships arrived in Barbados.

Right-wingers making McCarthy sweat for future Speaker post

House Minority Leader Kevin McCarthy stands with his Republican colleagues outside the House on Nov. 17. Photo: Stefani Reynolds/Bloomberg via Getty Images

Right-wing elements in the Republican Party are complicating House Minority Leader Kevin McCarthy's attempts to become the next speaker of the House should the GOP take back the majority in 2022.

Why it matters: While McCarthy has worked carefully to build trust among the conservatives who tanked his chances at clinching the speakership in 2015, they're still circling ahead of the next Speaker vote in January 2023.

4 hours ago - Politics & Policy

Congress sprints to meet crush of deadlines

Illustration: Aïda Amer/Axios

Congressional leaders have been pushing off vital action for months — and a lot of it will catch up with them in December, which begins Wednesday.

Driving the news: Funding for the federal government is set to expire at midnight on Friday. There are also consequential deadlines related to the debt limit, President Biden's agenda and annual actions like voting on the National Defense Authorization Act.