President Donald Trump has said the “big, beautiful bill” he signed into law on July 4, 2025, will stimulate the economy and foster financial security.
But a close look at the legislation reveals a different story, particularly for low-income people and racial and ethnic minorities.
As a legal scholar who studies how taxes increase the gap in wealth and income between Black and white Americans, I believe the law’s provisions make existing wealth inequalities worse through broad tax cuts that disproportionately favor wealthy families while forcing its costs on low- and middle-income Americans.
