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Top Bill Clinton Aides: 'Big, Beautiful Bill' Poses 'Huge Risks to Our Economy'

Summary by The Hill
Two Clinton-era Treasury Department secretaries issued a warning on Thursday about President Trump’s tax and spending bill, saying the administration’s approach poses significant risk to the U.S. economy. In a New York Times op-ed, Robert Rubin and Larry Summers compared today’s economic landscape to the one they faced in the 1990s and recalled that Trump, on the campaign trail, vowed not to add to the debt and to restore “fiscal sanity to our n…

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The International Monetary Fund (IMF) issued an alarm on the new Republican tax bill approved by the House of Representatives on Friday (3), stating that it could increase the US deficit in US$ 4 trillion over 10 years. The legislation extends the 2017 tax rates of Trump, while adding new exemptions for extra hours. Despite some costs cuts, the plan would still add US$ 3.4 trillion to the deficit before the cost of interest. The IMF's spokesman …

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The Hill broke the news in Washington, United States on Thursday, July 3, 2025.
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