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Republican Senate tax bill would add $3.3 trillion to the US debt load, CBO says
- Senate Republicans are pushing a tax and health care bill in mid-2025 that would add nearly $3.3 trillion to the national debt from 2025 to 2034.
- The bill aims to extend many of the 2017 Trump-era tax cuts set to expire this year by reducing spending on Medicaid, food assistance, and other social programs.
- The Congressional Budget Office projects that the bill would lead to an additional 11.8 million people becoming uninsured and reduce federal healthcare funding by approximately $1.1 trillion during that timeframe.
- The legislation advanced in a 51-49 Senate vote amid strong GOP pressure, with Senator Johnson initially blocking but later allowing the bill to proceed, planning further Medicaid cuts.
- The bill raises concerns about increasing inequality by benefiting the wealthiest while cutting social safety nets, generating internal GOP debates over fiscal costs and political risks.
59 Articles
59 Articles
Trump’s budget bill is a debt bomb. Can the ‘Pennsylvania Plan’ defuse it?
With the US Senate voting to move an updated version of US President Donald Trump’s sweeping budget legislation – the “One Big, Beautiful Bill Act” – forward in the legislative process, the controversial bill now comes closer to becoming law. It has also brought the country’s mounting debt back into the spotlight. Rife with spending increases, tax cuts and no additional revenue sources to compensate, the bill has been estimated to add US$3.3 tri…
US Senate pushes ahead on Trump tax cuts as non-partisan analysis raises price tag
US Senate Republicans pushed President Donald Trump's sweeping tax cut and spending bill forward on Sunday in a marathon weekend session even as a non-partisan forecaster said it would add an estimated $3.3-trillion to the nation's debt over a decade.
Missoulian
The News VirginianCBO: GOP Senate tax bill would add $3.3T to debt
WASHINGTON — The changes made to President Donald Trump's big tax bill in the Senate would pile trillions onto the nation's debt load while resulting in even steeper losses in health care coverage, the nonpartisan Congressional Budget Office said in…
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