The CBO also estimated low-income Americans will lose about $1,200 per year due to Medicaid changes and reductions in food assistance.

WASHINGTON (AP) — President Donald Trump’s tax and spending law will result in less income for the poorest Americans while sending money to the richest, the nonpartisan Congressional Budget Office reported Monday.

Ten million more Americans will be uninsured in the next decade due to changes in President Donald Trump's tax and spend law, according to an estimate by the Congressional Budget Office. The nonpartisan CBO analysis comes after the legislation became law in July and is an update from a previous analysis that estimated almost 11 million Americans would be uninsured from previous versions of the legislation.

Roughly 7.5 million people will lose Medicaid coverage by 2034, while an additional two million will lose coverage under the Affordable Care Act, the CBO estimates.

The Congressional Budget Office said Tuesday that millions of low-income people will lose health insurance and food stamps following changes to entitlement programs made under President Donald Trump’s One Big Beautiful Bill Act,