India, Oct. 18 -- The economic policies introduced by US President Donald Trump are expected to increase taxes and other costs for most Americans in 2026, while the wealthiest 1% of earners are expected to save money, according to a new report by the Institute on Taxation and Economic Policy (ITEP), a left-leaning economic think tank.

A typical American in the middle 20% of earners is expected to pay about $1,700 more in taxes and other costs in 2026 because of Trump's policies. The poorest 20% of Americans are expected to pay about $750 more in taxes and other costs. In contrast, the wealthiest 1% are expected to save about $12,560 in 2026.

The report, released on October 8, examines three major policy changes under Trump's second admi...