Most recipients of new Trump tax breaks earn less than $100,000: Treasury A new Treasury Department analysis indicates that the majority of individuals claiming recent tax breaks enacted by Republicans earn less than $100,000 annually. These tax cuts, part of the One Big Beautiful Bill Act, offer benefits on tips, overtime income, Social Security, and auto loans, with the vast majority of recipients falling into lower and middle-income brackets. The analysis highlights that these provisions were largely designed to benefit lower and middle-income taxpayers and phase out based on income.

• A Treasury Department analysis found most filers claiming new Republican tax breaks earn less than $100,000.
• The tax breaks were enacted as part of the One Big Beautiful Bill Act.
• Key provisions include tax breaks for tips, overtime income, Social Security, and auto loans.
• Over 7.5 million filers claimed the no-taxes-on-tips benefit, with 90% earning under $100,000.
• Approximately 29 million filers claimed the no-taxes-on-overtime deduction, with 75% earning under $100,000.
• 35 million seniors claimed an enhanced deduction, with 68% earning under $100,000.
• Treasury Secretary Scott Bessent stated these policies deliver substantial tax cuts to hardworking Americans.
• Many new tax provisions were designed to benefit lower- and middle-income taxpayers and phase out based on income.
• The analysis also reported that 97% of filers received a tax cut due to the legislation.