US EditionRepublican Senate tax bill would add $3.3 trillion to the US debt load, CBO says
- Senate Republicans advanced a tax and health care bill in 2025 projected to add at least $3.3 trillion to the national debt over a decade.
- The bill stems from the expiring 2017 Tax Cuts and Jobs Act, whose extension through new legislation represents the largest budget cost driving the debt increase.
- This legislation combines permanent tax cuts from 2017 with about $1.1 trillion in reductions to Medicaid, Medicare, and the Affordable Care Act, along with added work requirements.
- The Congressional Budget Office projected that by 2034, an additional 11.8 million people in the U.S. would lose their health insurance, and highlighted that roughly two-thirds of the tax advantages would primarily benefit the top 20 percent of earners.
- The bill triggers political divisions among Republicans and Democrats and raises concerns about increasing wealth inequality and cutting social safety nets for lower-income Americans.
46 Articles
46 Articles
CBO: GOP Senate tax bill would add $3.3T to debt
WASHINGTON — The changes made to President Donald Trump's big tax bill in the Senate would pile trillions onto the nation's debt load while resulting in even steeper losses in health care coverage, the nonpartisan Congressional Budget Office said in…
Senate changes to President Donald Trump's massive tax bill would add trillions of dollars to the nation's debt burden, while resulting in even larger losses in insurance coverage.
Senate Version of GOP Megabill Will Increase US Debt by $3.3 Trillion, CBO Projects - The Thinking Conservative
The latest version of the budget bill that the Senate is considering will add trillions to the national debt, the Congressional Budget Office (CBO) said. The post Senate Version of GOP Megabill Will Increase US Debt by $3.3 Trillion, CBO Projects appeared first on The Thinking Conservative.
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