Trump tax bill would widen deficits by $2.8T after factoring in economic impacts, CBO says

WASHINGTON (AP) — President Donald Trump’s tax cuts package would increase deficits by $2.8 trillion over the next decade after including other economic effects, according to a fuller analysis of the House-passed measure released Tuesday by the Congressional Budget Office.

The report, produced by the nonpartisan CBO and the Joint Committee on Taxation, factors in expected debt service costs and finds that the bill would increase interest rates and boost interest payments on the baseline projection of federal debt by $441 billion.

The analysis comes at a crucial moment as Trump is pushing the GOP-led Congress to act on what he calls his “big, beautiful bill.” It passed the House last month on a party-line vote, and now faces revisions in the Senate. Vice President JD Vance urged Senate Republicans during a private lunch meeting Tuesday to send the final package to the president’s desk.

https://apnews.com/article/cbo-trump-tax-cuts-budget-deficit-355a929637110adf1712df882360a995