Trump budget bill would increase deficit by $2.4 trillion with 10.9 million more uninsured by 2034, CBO says

Washington — Republicans' sweeping policy bill aimed at advancing President Trump's second-term agenda would increase the deficit by $2.4 trillion over the next decade, according to a new estimate prepared by the nonpartisan Congressional Budget Office.

The CBO also estimates that 10.9 million more people would be without health insurance in 2034 as the result of the House-passed legislation, mostly due to cuts to Medicaid and the Affordable Care Act under the bill.

House Republicans are aiming to cut at least $1.5 trillion in spending to offset trillions in tax cuts, while also raising the debt ceiling by $4 trillion. The CBO projection puts the spending cuts at about $1.2 trillion over the next decade, with the tax cuts totaling just under $3.7 trillion.

The package, which Mr.