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Trump bill’s steep price tag surprised bond market, Fed official says

On May 22, 2025, President Trump visited Capitol Hill as the House narrowly approved a large tax and spending package by a single vote.
The bill renewal faced pressure due to deep Medicaid and food aid cuts aimed to finance tax reductions favored by fiscally conservative Congress members.
The $2.7 billion expense estimated by the Congressional Budget Office will increase the national debt, which is expected to rise to 138 percent of the economy within the next ten years.
Trump called it "one big, beautiful bill" but the Senate must endorse it, and changes are expected when it returns to a conference committee.
The bill’s approval process and fiscal impact suggest ongoing budget challenges, with potential consequences for national debt and healthcare aid programs.

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Trump bill’s steep price tag surprised bond market, Fed official says

Federal Reserve Gov. Christopher Waller said the steep cost of President Trump's major policy bill caught the bond market off-guard, leading to a spike in U.S. interest rates.

2 days ago·Washington, United States

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