💨 Abstract

A Senate bill, part of former President Trump's agenda, is estimated to cost $508 billion over a decade, based on an alternative calculation method. However, it does not account for extending 2017 tax cuts, adding trillions to the federal deficit. The bill aims to permanently extend nearly all 2017 individual income tax cuts and includes further tax relief, adding approximately $700 billion to the deficit.

Courtesy: WTOP Staff