{"id":5293,"date":"2025-06-05T18:51:57","date_gmt":"2025-06-06T01:51:57","guid":{"rendered":"https:\/\/abovecloud.xyz\/?p=5293"},"modified":"2025-06-08T18:52:43","modified_gmt":"2025-06-09T01:52:43","slug":"trump-tax-bill-would-add-2-4-trillion-to-deficits-cbo","status":"publish","type":"post","link":"https:\/\/abovecloud.xyz\/?p=5293","title":{"rendered":"Trump tax bill would add $2.4 trillion to deficits: CBO"},"content":{"rendered":"\n<p>President Trump\u2019s \u201cbig, beautiful bill\u201d would\u00a0add $2.4 trillion\u00a0to the nation\u2019s deficit over roughly the next decade, a new cost estimate from the Congressional Budget Office (CBO) shows.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/06\/image-4-1024x576.png\" alt=\"\" class=\"wp-image-5294\" srcset=\"https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/06\/image-4-1024x576.png 1024w, https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/06\/image-4-300x169.png 300w, https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/06\/image-4-768x432.png 768w, https:\/\/abovecloud.xyz\/wp-content\/uploads\/2025\/06\/image-4.png 1400w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><br><br>The agency estimated the proposed tax cuts in the plan \u2014 which seek to lock in expiring provisions in Trump signature 2017 tax law, along with a host of other add-ons \u2014 would decrease revenues by more than\u00a0<strong>$3.6 trillion<\/strong>\u00a0over that time frame.<\/p>\n\n\n\n<p>Meanwhile, accompanying measures to cut federal spending, including reforms to Medicaid and Supplemental Nutrition Assistance Program, would reduce outlays by more than&nbsp;<strong>$1.2 trillion<\/strong>&nbsp;over the same period, the CBO estimated.<\/p>\n\n\n\n<p>The CBO also estimated the bill in its current form would \u201cincrease by 10.9 million the number of people without health insurance in 2034.\u201d&nbsp;<\/p>\n\n\n\n<p>\u201cThat total includes an estimated 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,\u201d it continued.<\/p>\n\n\n\n<p>The CBO found the bill would also \u201clower gross benchmark premiums, on average, in marketplace plans established by the Affordable Care Act by an estimated 12.2 percent in 2034.\u201d<\/p>\n\n\n\n<p>The Senate is expected to make changes to the legislation soon, with hopes of pushing the bill out of Congress by early July.<\/p>\n\n\n\n<p>Reprinted from The Hill<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump\u2019s \u201cbig, beautiful bill\u201d would\u00a0add $2.4  [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5294,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[4424,4362,1891],"class_list":["post-5293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa","tag-bill","tag-tax","tag-trump"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - 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