The One Big Beautiful Bill Act will increase the U.S. deficit by $3.4 trillion over the next 10 years, the Congressional Budget Office stated on July 21, revising its previous calculations based on the final content of the bill.
The nonpartisan group, which provides financial information to Congress, estimated that the original House version of the bill would increase the deficit by $2.8 trillion from 2025 through 2034.
When the Senate amended the House version, the Congressional Budget Office (CBO) revised its estimate to $3.3 trillion on June 29.
The bill will decrease spending by $1.1 trillion, according to the CBO, but it will also decrease revenue by $4.5 trillion….
Trump’s Big Beautiful Bill to Increase Deficit by $3.4 Trillion, CBO Projects
