Trump ‘reverse Robin Hood’ tax bill is driving up the cost of buying a home, Democrats say

Quick Summary:

"Trump and Republicans are directly responsible for the spike in the 30-year Treasury bond yield and mortgage rates,” said the fourth highest ranking House Democrat.

According to an analysis this week by the Congressional Budget Office, the bill’s tax cuts will add $3.8 trillion to the deficit even as it slashes $698 billion off of Medicaid, which provides healthcare for low-income Americans.

Trump and Republicans are directly responsible for the spike in the 30 year treasury bond yield and mortgage rates.

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Article Details

Author / Journalist: Christiaan Hetzner

Category: EconomyBusiness

Markets: United States

Topics: National debt Mortgage rates Congress Taxes U.S. debt Government debt Congressional Budget Office Donald Trump U.S. Department of the Treasury

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-23 @ 14:00:32 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 660 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 165 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28925373

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Official Website: fortune.com

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