The “One Big Beautiful Bill Act”—a comprehensive tax and immigration bill intended to support much of President Donald Trump’s agenda—could potentially increase the deficit by $2.4 trillion over the following decade, as per a new analysis released on Wednesday by the nonpartisan Congressional Budget Office.
The CBO provided updated projections on the legislation with the Senate as the focal point, where several Republican members are voicing concerns about the deficit and the impact on Medicaid.
The budget office is projecting 10.9 million more people will be uninsured in 2034 because of changes to health care.
According to the budget office, the bill is projected to reduce taxes by $3.7 trillion and decrease spending by $1.2 trillion. The CBO has yet to finalize an analysis regarding the macroeconomic consequences of the bill.
The White House preemptively defended the bill just before the CBO release, with deputy chief of staff Stephen Miller accusing the nonpartisan office of being “lefty” and touting the legislation as a “dream bill.”
House Majority Leader Steve Scalise slammed the CBO report at a press conference with Republican leadership on Wednesday morning, taking issue with it not recognizing potential economic growth, which it will do in a later, separate estimate.
“I get we have to play by the rules of the referee, but the referee is wrong. The referee is trying to sack our quarterback,” Scalise said.
The bill narrowly passed the House in May, but now some GOP members are signaling regret on their stamp of approval. Georgia Rep. Marjorie Taylor Greene, a staunch Trump ally, wrote in a social media post that she wasn’t aware of a provision related to AI regulations and that she would have voted against the bill had she known it was included. Greene called for the measure to be removed by the Senate.
Meanwhile, President Trump is set to meet with the Senate Finance Committee at the White House later Wednesday in his push to have the megabill passed.
The president’s lashed out at GOP senators who are threatening to complicate that, including Kentucky Sen. Rand Paul.
This is a developing story. Please check back for updates.
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