💨 Abstract

The Congressional Budget Office (CBO) reported that President Trump's tax and budget bill would increase deficits by $2.8 trillion over the next decade, factoring in economic effects and debt service costs. This dynamic analysis, which considers economic changes, contrasts with earlier static scoring. The bill is expected to boost interest payments and may leave 10.9 million more people uninsured. Republicans are pushing for the bill's passage by July 4, despite criticism and proposed Medicaid cuts.

Courtesy: WTOP Staff