GOP Tax Bill Adds $2.4T to Deficit, Leaves 11M Uninsured, CBO Says

The Congressional Budget Office estimates that the House Republicans' tax and spending cuts package would increase the federal deficit by $2.4 trillion over the next decade, according to CNN. It also projects that nearly 11 million more people will be uninsured by 2034, primarily due to major cuts to Medicaid. The new budget score may hinder Senate Majority Leader John Thune’s efforts to unify Republicans, as some want deeper cuts while others oppose the House bill’s Medicaid reductions. The analysis supports Elon Musk’s criticism that the bill would increase the deficit and undermine the work of his Department of Government Efficiency. Trump and House GOP leaders have dismissed the CBO’s projections, claiming they underestimate economic growth from tax breaks and have rejected similar estimates from independent groups. Some Senate leaders argue that extending the 2017 Tax Cuts and Jobs Act should be seen as maintaining current policy and, therefore, not counted as adding to the deficit. However, the CBO’s analysis follows standard practice by treating the tax cuts as set to expire, making their extension a new cost.