Updated July 7, 2026
The predominant feature of the tax and spending bill signed into law by President Trump on July 4 is a massive tax cut for the richest 1 percent — a total $117 billion benefit to the wealthiest people in the country in 2026 alone.
It’s not just a shift to the rich, it’s a shift among states. Money that could otherwise be paying for rural hospitals, farm support, Medicaid, food assistance or middle-class tax cuts in North Dakota, West Virginia, Maine, and Vermont–states which get relatively little from tax cuts for the very wealthy–will instead be flowing to billionaires in Texas, Florida, California, and New York.
To put that in perspective, if just the $18 billion tax cut going to a tiny sliver of rich families in Texas were instead divided evenly among the population of the entire country, every single person, adult or child, would receive about $50. In all, if the $117 billion in tax cuts for the richest 1 percent nationwide were instead re-directed evenly among the nation’s population next year, each of us would receive $344 — or over $1,375 for a family of four.
| State | Total tax cuts for top 1% in 2026 |
|---|---|
| United States | $116.55 billion |
| Texas | $18.17 billion |
| Florida | $12.80 billion |
| California | $7.30 billion |
| New York | $5.46 billion |
| Washington | $3.86 billion |
| Pennsylvania | $3.87 billion |
| Ohio | $3.89 billion |
| Georgia | $3.73 billion |
| Virginia | $3.64 billion |
| North Carolina | $3.58 billion |
| Massachusetts | $3.36 billion |
| Arizona | $3.26 billion |
| Illinois | $2.83 billion |
| Michigan | $2.57 billion |
| Tennessee | $2.36 billion |
| Colorado | $2.26 billion |
| South Carolina | $2.15 billion |
| Wisconsin | $2.16 billion |
| Indiana | $1.97 billion |
| Maryland | $1.85 billion |
| Nevada | $1.81 billion |
| Louisiana | $1.81 billion |
| Alabama | $1.67 billion |
| Missouri | $1.64 billion |
| Minnesota | $1.60 billion |
| Utah | $1.53 billion |
| Oklahoma | $1.44 billion |
| Connecticut | $1.29 billion |
| Iowa | $1.25 billion |
| Kentucky | $1.06 billion |
| New Jersey | $1.12 billion |
| Oregon | $978 million |
| Nebraska | $910 million |
| Mississippi | $903 million |
| Kansas | $850 million |
| Idaho | $820 million |
| Arkansas | $756 million |
| Montana | $613 million |
| South Dakota | $557 million |
| Hawaii | $492 million |
| Wyoming | $457 million |
| New Hampshire | $450 million |
| West Virginia | $421 million |
| New Mexico | $400 million |
| Delaware | $353 million |
| Rhode Island | $354 million |
| Alaska | $303 million |
| Maine | $262 million |
| North Dakota | $260 million |
| Vermont | $201 million |
| District of Columbia | $197 million |
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