The Congressional Budget Office (CBO) said on Wednesday that Trump’s “One Big Beautiful Bill” would increase the US federal deficit by $2.4 trillion over ten years. The proposal, a centerpiece of his domestic agenda, includes over $3.7 trillion in tax cuts and $1.3 trillion in spending reductions, but the math isn’t lining up. The nonpartisan budget office projects that millions of Americans will lose health coverage under the plan, while the Republican leadership is brushing off the warnings and pressing forward. Trump met with Republican senators for over an hour at the White House the same day the report came out. The session was described as a serious policy talk, but Senate Majority Leader John Thune offered little substance afterward. “We’re committed to making a law that will make the lives of the American people better,” John said. He added that they’d “get this done one way or another,” ignoring the deficit warnings entirely. Democrats attack cost and health care fallout The Democratic Party went after the bill immediately. House Budget Committee ranking member Brendan Boyle used the words of Elon Musk, a former Trump ally, calling the proposal a “ disgusting abomination .” The bill would bring back the 2017 tax breaks, keep them going for another decade, and add new ones — like zero taxes on tipped income, which Trump promoted during his campaign. But the tax cuts alone would slash revenue by trillions. To offset part of that loss, the bill would gut federal spending — especially on Medicaid and food programs. The CBO says the Medicaid changes alone would leave 7.8 million people without coverage, with 5.2 million of them dropped because of new work requirements targeting nondisabled adults under 65. Exceptions are vague. Another 1.4 million undocumented individuals in state-run health programs would be removed as well. An additional 400,000 people would lose insurance thanks to the removal of a medical provider tax, which Senator Josh Hawley says is vital for keeping rural hospitals afloat. Senate Democratic Leader Chuck Schumer didn’t hold back either. He said, “They just want to strangle health care,” accusing Republicans of using the bill as another attempt to kill off Obamacare, especially after many states expanded Medicaid using federal funds. Republicans defend numbers, attack credibility of CBO Even before the CBO’s numbers dropped, Republicans were already spinning. John called the CBO’s track record flawed, saying they got things wrong before. He claimed they underestimated tax revenue growth after Trump’s original 2017 cuts. In fact, the CBO did later revise its estimate, reporting that revenue was $1.5 trillion higher than predicted, partly due to the 2021 inflation spike during the pandemic. Russ Vought, Trump’s budget director, jumped in too. He said the real numbers should be based on “current policy,” meaning those $4.5 trillion in tax breaks already exist and should be treated as permanent. By his math, the bill would actually cut the deficit by $1.4 trillion over the decade. Russ said, “When you adjust for current policy, there’s no new deficit.” But some Republicans and most Democrats say this method is a gimmick. They argue it tricks the math by pretending massive tax breaks aren’t new costs. Russ fired back, saying the CBO itself was using a gimmick by counting those tax breaks as new expenses just because they’re about to expire. House Speaker Mike Johnson defended Russ online. “Russ is right,” Mike wrote. “Our One Big Beautiful Bill will REDUCE the deficit WHILE delivering on the mandate given to us by the American people.” He didn’t mention the CBO’s actual projections or the healthcare losses. That didn’t stop the White House from targeting the CBO directly. Press Secretary Karoline Leavitt questioned the office’s neutrality. She suggested that its staff is biased, even though CBO employees are banned from political donations or activities to keep them neutral. Despite all of that, Trump’s bill is still moving. Republicans aren’t backing down, and Democrats are digging in. With Trump back in the White House and his signature bill facing massive pushback, Washington’s fight over money just got even uglier. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
