Trump Tax Bill: Impact on Deficit and Healthcare

Why this matters: These projections highlight the potential long-term economic and social consequences of the proposed legislation, impacting healthcare access and the nation's financial stability.

The 'One Big Beautiful Bill Act' aims to extend individual income tax breaks from 2017 while adding new provisions. Republicans plan to offset lost revenue by slashing federal spending and introducing new work requirements for Medicaid and SNAP. However, the CBO's analysis contradicts claims that the bill won't worsen the national debt.

Historical Context: The CBO, established in 1974, provides Congress with impartial analysis on budgetary and economic issues. Its findings are often debated and scrutinized by both parties.

Who This Affects Most: The increased number of uninsured will disproportionately affect low-income individuals and families. The changes to SNAP could impact millions of people relying on food assistance.

The Congressional Budget Office is a nonpartisan agency that provides budget and economic information to Congress.

The CBO projects the bill will add $2.4 trillion to the national debt over the next 10 years.

The CBO estimates 10.9 million more people will be uninsured by 2034.

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