The GOP Tax Bill Will Add $2.3 Trillion to the Deficit, CBO Says
The major tax bill that Republicans hope to pass through the House later this week will require the federal government to borrow more heavily for the next five years, while postponing spending cuts and other deficit-reducing measures until 2028 or beyond.
In many cases, those future spending cuts and tax increases are unlikely to ever materialize. Instead, they seem meant to manipulate the calculations done by the Congressional Budget Office (CBO) and other independent entities that assess the budgetary impact of legislation.
Even with those gimmicks included in the bill, however, the CBO estimates that the One Big Beautiful Bill Act will add more than $2.3 trillion to the deficit over the next 10 years. The bill would increase borrowing by more than $400 billion in each of the next four years—topping out at nearly $600 billion in new borrowing in 2027.
The House bill will add $600 billion to the 2027 deficit, based on CBO. pic.twitter.com/NDWR8QZbQa
— Marc Goldwein (@MarcGoldwein) May 21, 2025
Other assessments of the bill by the Yale Budget Lab and the Penn Wharton Budget Project expect it to add more than $3 trillion to the deficit, as written.
As the Committee for a Responsible Federal Budget noted in its analysis of the ta
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