💨 Abstract

The One Big Beautiful Bill (OBBB) Act, signed by Trump, will reduce taxes but increase the national debt by $3.4 trillion over ten years, reaching $40 trillion. It aims to boost short-term economic growth but may lead to higher long-term interest rates. The growing national debt, largely due to increased spending and interest costs, may result in higher taxes, inflation, and reduced government services for Americans. Credit rating agencies have downgraded the U.S.

Courtesy: WTOP Staff