Nonpartisan CBO Reports: Trump-Supported Tax and Spending Package Increases Deficit by $2.4 Trillion

WASHINGTON — The nonpartisan Congressional Budget Office (CBO) unveiled an in-depth analysis on Wednesday, revealing that the Republicans' ambitious fiscal plan could escalate federal deficits by a staggering $2.4 trillion over the next decade. If this bill passes unchanged, CBO estimates that 10.9 million individuals may lose their health insurance by 2034, which includes 1.4 million people lacking verified citizenship or adequate immigration status who would be excluded from state-sponsored health programs. House Majority Leader Steve Scalise, R-La., vocally criticized the CBO's projections during a press briefing, disputing its accuracy on economic growth. He contended that historical growth rates could better reflect the bill's potential to alleviate deficits, suggesting figures between 2.5% and 4%. In response, CBO clarified that tax adjustments would lead to a $3.754 trillion deficit increase. With upheavals to programs like Medicaid and others, the implications for low-income families appear severe. Democratic leaders, such as Frank Pallone Jr., condemned the hasty vote, labeling it a disastrous move that obscured the bill's consequences.