Trump tax bill would add $2.4 trillion to the deficit over a decade: CBO

President Trump’s “big, beautiful bill” would add $2.4 trillion to the nation’s deficit over roughly the next decade, a new cost estimate from the Congressional Budget Office (CBO) shows.

The agency estimated the proposed tax cuts in the plan — which seek to lock in expiring provisions in Trump signature 2017 tax law, along with a host of other add-ons — would decrease revenues by more than $3.6 trillion over that time frame.

At the same time, the CBO estimated accompanying measures to cut federal spending, including reforms to Medicaid and Supplemental Nutrition Assistance Program (SNAP), would reduce outlays by $1.2 trillion over the same time frame.

House Republicans have been shooting for a minimum goal of $1.5 trillion for spending cuts to ride alongside the tax component of the pl