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CBO Analysis: Trump’s Tax Breaks for Rich Will Contribute to Growing Deficit

HeadlineApr 10, 2018

A new analysis by the Congressional Budget Office projects the federal government’s annual budget deficit is expected to top $1 trillion by 2020 and that the national debt is expected to balloon to $33 trillion by 2028. The analysis says President Trump’s tax overhaul, which showered corporations and the richest Americans with tax breaks, will contribute significantly to the growing deficits.

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