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Trump Megabill and Economic Agenda Would Spur Growth and Reduce National Debt, According to White House Report

  • House Republicans passed the One Big Beautiful Bill Act, which is now before the Senate with hopes to merge versions after July 4, 2025.
  • The bill aims to avert large tax increases set to expire this year and is driven by President Trump's agenda despite concerns the legislation will increase the national debt.
  • Analyses including those by the CBO and White House claim the bill would boost GDP by about 0.5 to 1.0 percent over the next decade through higher economic output and tax revenue.
  • The White House asserts the bill will reduce debt by $2.3 trillion via economic growth, while critics warn it could raise deficits by $1 trillion or more, increasing publicly held debt to about 124 percent of GDP by 2034.
  • Ongoing negotiations reflect division, with some Republicans open to supporting the bill if changes address Medicaid cuts and fiscal concerns, underscoring the uncertain path toward final passage.
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Finger Lakes Times broke the news in on Wednesday, June 25, 2025.
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