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CBO: Trump’s Tax and Spending Bill to Add $3.4T to National Debt

HeadlineJul 22, 2025

A new analysis by the nonpartisan Congressional Budget Office finds President Trump’s new tax and spending bill will add $3.4 trillion to the national debt over the next decade. The CBO’s updated forecast also expects the legislation to cause some 10 million people across the U.S. to lose health insurance by 2034.

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