President Donald Trump 's "big, beautiful bill" would add $2.4 trillion to federal budget deficits over the next decade, the Congressional Budget Office estimated Wednesday.

The bill passed by House Republicans last month would decrease federal spending by $1.3 trillion, but also see a $3.7 trillion drop in revenues, according to the CBO's latest analysis .

The budget package is expected to be tweaked further in the Senate, where it already faces headwinds from deficit hawks who have criticized the bill over concerns it would lead to exploding deficits.

Sen. Ron Johnson, R-Wis., said earlier Wednesday on CNBC's " Squawk Box " that he would not vote for the bill as it stands, calling it "grotesque" and "immoral."

Republican senators also face new outside pressure from Elon Mu

See Full Page