Washington — Republicans’ sweeping policy bill aimed at advancing President Trump’s second-term agenda would increase the deficit by $2.4 trillion over the next decade, according to a new estimate prepared by the nonpartisan Congressional Budget Office.
The CBO also estimates that 10.9 million more people would be without health insurance in 2034 as the result of the House-passed legislation, given changes to Medicaid and the Affordable Care Act under the bill.
House Republicans are aiming to cut at least $1.5 trillion in spending to offset trillions in tax cuts, while also raising the debt ceiling by $4 trillion.
The package, which Mr. Trump refers to as the “big, beautiful bill,” is now in the hands of the Senate after making it out of the House before Memorial Day. The bill is expected to undergo changes in the Senate before heading back to the lower chamber.
This is a developing story and will be updated.