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
    More terrors on tap for SeaWorld Orlando’s Howl-O-Scream 2025
    • Local news

    New Chills Await at SeaWorld Orlando’s Howl-O-Scream 2025

    ORLANDO, Fla. – SeaWorld Orlando is turning up the terror for its…
    • Internewscast
    • July 8, 2025
    Central Illinois family farms picking, selling corn until sold out
    • Local news

    Central Illinois Family Farms Harvesting and Selling Corn Until Inventory is Depleted

    CENTRAL ILLINOIS (WCIA) — Family farms all over Central Illinois are starting…
    • Internewscast
    • July 9, 2025
    Shaking up Shakespeare: a different take on the Bard
    • Local news

    Rethinking Shakespeare: A Fresh Perspective on the Bard

    SAVANNAH, Ga. () — The Assembly of Phantasms (TAOP) is a performance…
    • Internewscast
    • July 8, 2025
    Death toll from Kenya’s latest anti-government protest surges to 31
    • Local news

    Kenya’s Recent Anti-Government Protest Leaves 31 Dead

    NAIROBI – The death toll from Monday’s anti-government protests in Kenya has…
    • Internewscast
    • July 8, 2025
    Mexico sends aid to Texas following deadly flooding
    • Local news

    Mexico Provides Assistance to Texas After Lethal Floods

    Mexican officials are lending a hand to the nation’s neighbor across the…
    • Internewscast
    • July 8, 2025
    DeSantis warns Musk against third party
    • Local news

    DeSantis cautions Musk about third-party involvement

    Florida Gov. Ron DeSantis (R) warned Monday that Elon Musk’s formation of…
    • Internewscast
    • July 8, 2025
    Shoe-off rule at airports will be going away, TSA announces
    • Local news

    TSA Announces End to Airport Shoe Removal Rule

    ORLANDO, Fla. – Airport security routines might soon change for travelers throughout…
    • Internewscast
    • July 8, 2025
    Texas flooding: Rescue swimmer hailed as hero for saving 165 lives
    • Local news

    Texas Floods: Heroic Rescuer Credited with Saving 165 Individuals

    OXFORD, N.J. (PIX11) — A New Jersey native is being hailed a…
    • Internewscast
    • July 8, 2025
    Bryan Kohberger's signed confession made public
    • Local news

    Public Release of Bryan Kohberger’s Signed Admission of Guilt

    () After Bryan Kohberger agreed to a plea deal last week, his…
    • Internewscast
    • July 9, 2025
    sams club gas pic
    • Local news

    Sam’s Club Gas Station Accidentally Dispenses Diesel, Leaving Drivers Stranded

    BELMONT COUNTY, Ohio (WTRF) – The Sam’s Club gas station in St.…
    • Internewscast
    • July 8, 2025
    Safety first: What to know when buying child car seats
    • Local news

    Top Tips for Safely Purchasing a Child Car Seat

    STATESBORO, Ga. () — The arrival of a newborn brings excitement, joy,…
    • Internewscast
    • July 8, 2025
    Mexico sends firefighters, search personnel to help flood victims in Texas
    • Local news

    Mexico Deploys Firefighters and Rescue Teams to Assist Texas Flood Victims

    SAN DIEGO (Border Report) — Mexico’s President Claudia Sheinbaum has sent a…
    • Internewscast
    • July 8, 2025
    Space industry urges Congress not to ax satellite collisions system
    • Local news

    The Space Industry Asks Congress to Keep the Satellite Collision Monitoring System

    WASHINGTON (Reuters) – Hundreds of U.S. companies on Tuesday urged Congress to…
    • Internewscast
    • July 9, 2025
    Bizarre Circumstances Surround 1980 Disappearance of Nancy Snow: "I Will Never Stop Looking"
    • Entertainment

    Unraveling the 1980 Mystery of Nancy Snow’s Vanishing: “My Search Will Never End”

    It’s been more than four decades since Nancy Snow’s three daughters last…
    • Internewscast
    • July 9, 2025
    • Food For Soul

    Rhapsody Of Realities 9 July 2025 – Presenting Jesus Christ Alive

    Rhapsody Of Realities 9 July 2025 By Pastor Chris Oyakhilome (Christ Embassy):…
    • Internewscast
    • July 9, 2025
    Earth spins faster: Wednesday expected to be one of shortest days on record
    • US

    Earth’s Rotation Accelerates: Anticipation Builds for One of Shortest Days Ever on Wednesday

    Earth is expected to complete a full rotation on July 9 roughly…
    • Internewscast
    • July 9, 2025
    Internewscast Journal
    • Home
    • Privacy Policy
    • DMCA Notice
    • Terms and Conditions
    • Guest Post
    • Support Our Cause
    Copyright 2023. All Right Reserverd.