The Republican tax bill approved by the House would cost the poorest Americans roughly $1,600 a year while increasing the income of the wealthiest households by an average of $12,000 annually.

Kris Cox: The bill overall takes food assistance and health care coverage away from people with low and middle incomes, and that is extremely damaging.

The highest-earning U.S. households would see the biggest gains under the GOP budget package thanks to tax cuts, CBO analysis finds.