💨 Abstract

President Donald Trump's proposed "One Big Beautiful Bill Act" from June 2025 would increase the federal budget deficit by $2.4 trillion over ten years due to tax cuts outweighing spending reductions. To offset this, Trump plans to implement tariffs, which could raise $2.5 trillion over the same period. However, experts warn that relying on tariffs is economically damaging and politically risky. Tariffs raise consumer prices, harm U.S.

Courtesy: WTOP Staff