US EditionRepublican Senate tax bill would add $3.3 trillion to the US debt load, CBO says
UNITED STATES, JUN 29 – The Congressional Budget Office reports the Senate bill would add $3.3 trillion to the deficit and cause 11.8 million more Americans to lose health insurance by 2034.
- Over the weekend, the Congressional Budget Office warned that the bill could remove health coverage from nearly 12 million Americans and increase the debt by $3.3 trillion.
- The bill seeks to extend Trump’s 2017 tax cuts, while proposing $1 trillion in healthcare reductions, including Medicaid and SNAP cuts.
- Analysis reveals the Senate bill would add nearly $3.3 trillion to deficits and cause 11.8 million Americans to lose Medicaid coverage by 2034.
- That timing puts Senate leader Thune under pressure to secure nearly unanimous GOP support before the July 4 deadline, with only one more defect allowed.
- Reconciliation enables the Senate GOP to pass the bill with a simple majority, risking long-term fiscal stability according to Democrats and economists.
109 Articles
109 Articles
Time for a national debt history lesson
The Senate just narrowly passed the latest version of the GOP tax and spending bill, and the House will vote on it tomorrow. Nonpartisan experts at the Congressional Budget Office say the bill will add more than $3 trillion to the national debt, which is already a whopping $36.2 trillion. In this episode, a few economic historians tell us how we got here. Plus: Construction spending falls again, Home Depot goes after large-scale pros and the sto…
Fox News Anchor Concedes Trump’s Budget Bill ‘Does Run Up the Debt’
Fox News anchor Harris Faulkner spoke to Fox Business host Jackie DeAngelis as the U.S. Senate narrowly passed President Donald Trump’s sweeping tax and spending bill, which is projected to add at least $3 trillion to the deficit over the next ten years. “You were telling us what happens if the bill passes. You had some good news for us. It does run up the debt, so talk about that,” Faulkner began. “Yeah, so I was putting it in context of what p…
The true cost of the Senate spending bill
The Congressional Budget Office says the Senate budget bill would add nearly $4 trillion the the national debt, despite President Trump's claims to the contrary. Marc Goldwein, senior policy director at the Committee for a Responsible Federal Budget, joins to discuss.
Sydney Morning Herald
The AgeTrump’s ‘magic’ act: The US Senate has just made $5.8 trillion disappear
The Senate Republicans are using a controversial accounting approach to make the cost of Donald Trump’s One Big Beautiful Bill appear far smaller than it is.
Dollar nears 4-year low vs. euro as tax bill, trade fears mount | Honolulu Star-Advertiser
NEW YORK>> The dollar hit a near four-year low against the euro today amid worries over the rising U.S. government deficit and uncertainty surrounding trade deals with major countries. Senate Republicans will try to pass President Donald Trump’s sweeping tax-cut and spending bill, despite divisions within the party about its expected $3.3 trillion hit to the nation’s debt pile.
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