CBO Warns Trump’s ‘Beautiful Bill’ Will Bring Savings to Taxpayers But Explode Deficit

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Trump’s proposed bill offers massive tax relief but at the expense of adding trillions to the national debt. While the House narrowly passed it, concerns in the Senate could derail or alter the legislation.

The stakes are high, and if passed without revision, the cost to future generations could outweigh the short-term gains.

Key Facts:

  • The bill would cut federal taxes by $3.7 trillion over ten years while increasing the national debt by $2.4 trillion.
  • The Congressional Budget Office estimates the bill would leave 10.9 million more people uninsured, including 1.4 million undocumented immigrants.
  • A revised SALT deduction cap lowers projected federal revenue by $128 billion compared to earlier versions of the bill.
  • The House passed the bill 215-214 on May 22, with two Republicans voting against it over deficit concerns.
  • Senators Rand Paul and Ron Johnson are voicing opposition due to the bill’s projected impact on the debt.

The Rest of The Story:

The “One Big Beautiful Bill Act,” passed narrowly by the House, is one of President Trump’s signature fiscal efforts aimed at broad tax relief.

The bill would deliver sweeping cuts totaling $3.7 trillion, but at the cost of a significant expansion of the national debt, which the CBO estimates will increase by $2.4 trillion over the next decade.

Part of the bill’s revised structure includes a higher SALT deduction cap to help rally House votes.

This revision alone results in $128 billion less in federal revenue.

On the spending side, reforms to Medicaid and healthcare programs reduce costs by nearly $1.1 trillion compared to earlier drafts.

Still, the overall budget outlook remains negative.

While the Trump administration disputes the CBO’s calculations, claiming economic growth will raise future tax revenues, the Senate now faces its own decision.

A narrow Republican majority and opposition from deficit hawks could stall or reshape the bill.

Commentary:

This bill is a mixed bag.

On one hand, it offers desperately needed tax relief.

American taxpayers are overburdened, and cuts totaling $3.7 trillion will return more money to families and businesses.

That’s real economic stimulus in the short term.

But the price is steep.

Adding $2.4 trillion to the national debt is not just a red flag—it’s a flashing warning.

Today, interest on the debt already consumes roughly a quarter of the federal budget.

This bill risks pushing that figure even higher, putting long-term stability at risk.

Elon Musk has spoken out against runaway government spending before, and his concerns are validated here.

While he’s advocated for innovative disruption like DOGE as a way to decentralize finance, this bill simply adds more fuel to Washington’s spending fire.

The Senate has a chance to correct course.

Lawmakers like Rand Paul and Ron Johnson are right to raise the alarm.

The focus should be on targeted tax relief paired with serious spending restraint—not a free-for-all that promises immediate rewards at the cost of fiscal collapse later.

America needs reform, but not at any cost.

Real leadership means making the hard choices now to prevent disaster tomorrow.

This bill’s structure does not reflect that principle.

The Bottom Line:

Trump’s “One Big Beautiful Bill” proposes bold tax cuts that Americans could cheer.

But the increase in national debt threatens long-term financial health.

With interest already eating up a quarter of the federal budget, this bill only makes that worse.

The Senate must act to protect future generations from reckless short-term fixes.

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