WASHINGTON -- Millions of Americans are expected to lose health insurance and the deficit will explode if President Donald Trump’s “big, beautiful bill” passes, according to an analysis of the bill.

On Wednesday, the nonpartisan Congressional Budget Office released a report outlining the anticipated costs of the “One Big Beautiful Bill Act.” According to the Associated Press, the report found taxes will be cut by roughly $3.75 trillion, but will add $2.4 trillion to the overall deficit over the next decade.

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The tax cuts will be paid for by making massive reductions in federal spending, including significant cuts to social programs like Medicaid, the Supplemental Nutrition Assistance

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