A new report from the Congressional Budget Office (CBO) shows that former President Donald Trump’s proposed “Big Beautiful Bill” could increase the national debt by $3.3 trillion over the next 10 years.
The bill includes plans to extend Trump’s 2017 tax cuts, cut corporate taxes even further, and reduce spending on government programs like Medicaid and food assistance. It’s over 900 pages long and is being pushed by Senate Republicans who want to pass it before July 4.
Trump is calling it a historic and necessary move, but critics including economists and business leaders say it could hurt the economy in the long run. Even billionaire Elon Musk criticized the bill, calling it “insane and destructive.”
Senate Democrats are trying to block the bill and want the Senate parliamentarian to review it to see if it breaks Senate budget rules. If the parliamentarian rules against it, the bill could be stopped.
The Senate is very divided, and with only a small Republican majority, the outcome is uncertain. Voting on the bill is expected to begin this week.
Also Read: The House Oversight Committee just dropped a political bombshell
Follow us on X @Dobblog1
No comments:
Post a Comment
Join the conversation by leaving a comment below. Keep it respectful, relevant, and on-topic - we love hearing from our readers!