Internewscast Journal
  • Home
  • US News
  • Local News
  • Health
  • People
  • Guest Post
  • Support Our Cause
Internewscast Journal
  • Home
  • US News
  • Local News
  • Health
  • People
  • Guest Post
  • Support Our Cause
Home Local news CBO: Republican Senate Tax Bill Projected to Increase US Debt by $3.3 Trillion
  • Local news

CBO: Republican Senate Tax Bill Projected to Increase US Debt by $3.3 Trillion

    Republican Senate tax bill would add $3.3 trillion to the US debt load, CBO says
    Up next
    I suffer with random heart palpitations but the ECG came back normal... so what could it be? DR ELLIE answers
    I Experience Unexplained Heart Palpitations Despite Normal ECG Results – What Could Be the Cause? Dr. Ellie Explains
    Published on 29 June 2025
    Author
    Internewscast
    Tags
    • Add,
    • bill,
    • CBO,
    • debt,
    • Donald Trump,
    • jd vance,
    • Jeff Merkley,
    • load,
    • Phillip Swagel,
    • Politics,
    • Republican,
    • says,
    • Senate,
    • tax,
    • The,
    • trillion,
    • Washington news,
    • Would
    Share this @internewscast.com
    FacebookXRedditPinterest

    WASHINGTON – According to a fresh analysis by the nonpartisan Congressional Budget Office, the Senate’s modifications to President Donald Trump’s extensive tax legislation would significantly inflate the national debt and sharply reduce health care coverage. This adds further complications for Republicans attempting to push the bill through.

    The CBO projects that the Senate bill would increase the deficit by almost $3.3 trillion from 2025 to 2034, which is about $1 trillion more than the House version of the bill. The House bill is expected by the CBO to contribute $2.4 trillion to the debt over the next decade.

    Additionally, the analysis indicates that if the bill becomes law, 11.8 million more Americans would go without insurance by 2034. This is an increase compared to the House bill’s estimation, which foresees 10.9 million additional people lacking health insurance.

    The stark numbers are yet another obstacle for Republican leaders as they labor to pass Trump’s bill by his self-imposed July 4th deadline.

    Even before the CBO’s estimate, Republicans were at odds over the contours of the legislation, with some resisting the cost-saving proposals to reduce spending on Medicaid and food aid programs even as other Republicans say those proposals don’t go far enough. Republicans are slashing the programs as a way to help cover the cost of extending some $3.8 trillion in Trump tax breaks put in place during his first term.

    The push-pull was on vivid display Saturday night as a routine procedural vote to take up the legislation in the Senate was held open for hours as Vice President JD Vance and Republican leaders met with several holdouts. The bill ultimately advanced in a 51-49 vote, but the path ahead is fraught, with voting on amendments still to come.

    Still, many Republicans are disputing the CBO estimates and the reliability of the office’s work. To hoist the bill to passage, they are using a different budget baseline that assumes the Trump tax cuts expiring in December have already been extended, essentially making them cost-free in the budget.

    The CBO on Saturday released a separate analysis of the GOP’s preferred approach that found the Senate bill would reduce deficits by about $500 billion.

    Democrats and economists decry the GOP’s approach as “magic math” that obscures the true costs of the GOP tax breaks.

    In addition, Democrats note that under the traditional scoring system, the Republican bill bill would violate the Senate’s “Byrd Rule” that forbids the legislation from increasing deficits after 10 years.

    In a Sunday letter to Oregon Sen. Jeff Merkley, the top Democrat on the Senate Budget Committee, CBO Director Phillip Swagel said the office estimates that the Finance Committee’s portion of the bill, also known as Title VII, “increases the deficits in years after 2034” under traditional scoring.

    Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

    Share this @internewscast.com
    FacebookXRedditPinterest
    You May Also Like
    Bob Vylan rejects criticism and says it's being targeted for speaking up about Gaza at Glastonbury
    • Local news

    Bob Vylan dismisses criticism, claiming they are being singled out for discussing Gaza at Glastonbury.

    LONDON – On Tuesday, rap-punk duo Bob Vylan addressed accusations of antisemitism…
    • Internewscast
    • July 1, 2025
    DOJ announces takedown of record $14.6B in health care fraud
    • Local news

    The Department of Justice Reports Historic $14.6 Billion Health Care Fraud Bust

    (The Hill) The Justice Department on Monday announced criminal charges against more…
    • Internewscast
    • July 1, 2025
    Trump says Israel has agreed to ceasefire conditions in Gaza; no response from Hamas yet
    • Local news

    Trump announces Israel’s acceptance of ceasefire terms in Gaza; awaits Hamas response

    President Donald Trump said Tuesday that Israel has “agreed to the necessary…
    • Internewscast
    • July 2, 2025
    LIVE: Gov. Bill Lee reveals statewide celebration in Afton
    • Local news

    LIVE: Governor Bill Lee Announces Statewide Celebration in Afton

    AFTON, Tenn. (WJHL) — Tennessee Governor Bill Lee is in Greene County…
    • Internewscast
    • July 1, 2025
    Trump administration concludes Harvard in 'violent violation' of Civil Rights Act
    • Local news

    Trump Administration Finds Harvard in ‘Significant Breach’ of Civil Rights Act

    WASHINGTON () The Trump administration told Harvard University on Monday that an investigation had concluded the…
    • Internewscast
    • July 1, 2025
    Pasco mom fights for legislative changes after daughter gets hit by car biking to school
    • Local news

    Pasco Mother Advocates for New Laws Following Her Daughter’s Bike Accident on the Way to School

    NEW PORT RICHEY, Fla. (WFLA) — A new law went into effect…
    • Internewscast
    • July 1, 2025
    5 takeaways as Senate ships Trump’s megabill to House
    • Local news

    5 Key Points from the Senate’s Approval of Trump’s Major Bill to the House

    Senate Republicans endured a 26-hour slog before finally passing President Trump’s ambitious…
    • Internewscast
    • July 1, 2025
    Hurricane Flossie could become a major hurricane off the Pacific coast of Mexico
    • Local news

    Hurricane Flossie might strengthen into a major hurricane near Mexico’s Pacific coastline.

    MEXICO CITY (AP) Hurricane Flossie strengthened to a Category 2 cyclone on…
    • Internewscast
    • July 2, 2025
    Liberty County School superintendent retiring after 8 years
    • Local news

    Liberty County School Superintendent Announces Retirement After Eight Years

    LIBERTY COUNTY, Ga. ( ) — On Monday, the Liberty County School…
    • Internewscast
    • July 1, 2025
    Georgia’s largest Buc-ees opens in Brunswick ahead of holiday travel
    • Local news

    Brunswick Welcomes Georgia’s Largest Buc-ee’s Just in Time for Holiday Travel

    BRUNSWICK, Ga. () – If you’ve ever journeyed by car through the…
    • Internewscast
    • July 1, 2025
    The suspension of Thailand's prime minister over a leaked phone call stirs familiar turmoil
    • Local news

    Thai Prime Minister Suspended Amidst Controversy Over Leaked Phone Call, Sparking Political Turmoil

    BANGKOK – The suspension of Thai Prime Minister Paetongtarn Shinawatra by the…
    • Internewscast
    • July 1, 2025
    Shorter school weeks? Study finds 4-day weeks may not help all students
    • Local news

    Reduced School Weeks? Research Indicates 4-Day Schedules Might Not Benefit All Students

    PORTLAND, Ore. (KOIN) – Amid a growing trend of four-day school weeks,…
    • Internewscast
    • July 1, 2025
    Off-duty Florida nurse saves neighbor's 5-year-old child who accidentally shot himself
    • Local news

    Off-Duty Florida Nurse Rescues Neighbor’s 5-Year-Old After Accidental Shooting

    EUSTIS, Fla. (WFLA) — When a tragic incident took place on Sunday,…
    • Internewscast
    • July 2, 2025
    LA officials charge over 40 anti-ICE protesters who allegedly assaulted officers, horses and threatened child
    • US

    Over 40 Anti-ICE Protesters Charged by LA Officials for Alleged Assaults and Threats

    Los Angeles officials reported on Tuesday that more than 40 individuals now…
    • Internewscast
    • July 2, 2025
    The two books Diddy turned to throughout trial as he awaits verdict
    • News

    The Two Books Diddy Relied On During His Trial While Awaiting the Verdict

    Sean ‘Diddy’ Combs revealed the motivational books he turned to throughout…
    • Internewscast
    • July 2, 2025
    Pheobe Bishop
    • AU

    A third individual has been charged in connection with the disappearance and suspected murder of Pheobe Bishop.

    A third person has been charged in relation to the disappearance and…
    • Internewscast
    • July 2, 2025
    Internewscast Journal
    • Home
    • Privacy Policy
    • DMCA Notice
    • Terms and Conditions
    • Guest Post
    • Support Our Cause
    Copyright 2023. All Right Reserverd.