Trump-backed giant tax and spending bill bloats deficit by $2.4T, nonpartisan CBO says

The U.S. Capitol on Oct. 9, 2024. (Photo by Jane Norman/States Newsroom)

WASHINGTON — The nonpartisan Congressional Budget Office released detailed analysis Wednesday showing Republicans’ “big, beautiful bill” would increase federal deficits by $2.4 trillion during the next decade.

CBO projects that if enacted as written, the legislation would result in 10.9 million people losing access to health insurance by 2034, a number that includes “1.4 million people without verified citizenship, nationality, or satisfactory immigration status who would no longer be covered in state-only funded programs in 2034.”

The score is the most up-to-date analysis by Congress’ official scorekeeper on how the sweeping tax and spending cuts package the House approved last month will impact the federal budget