(WASHINGTON) — The “One Big Beautiful Bill Act” — a massive tax and immigration bill to fund much of President Donald Trump’s agenda — could add $2.4 trillion to the deficit over the next decade, according to a new analysis out Wednesday from the nonpartisan Congressional Budget Office.
The CBO released updated estimates on the legislation as focus turns to the Senate, where a handful of Republican members are expressing concerns about the deficit and changes to Medicaid.
The budget office is projecting 10.9 million more people will be uninsured in 2034 because of changes to health care.
The budget office also estimates the bill will cut taxes by $3.7 trillion and cut spending by $1.2 trillion. The CBO has not yet completed an analysis of the macroeconomic effects of the bill.
The White House preemptively defended the bill just before the CBO release, with deputy chief of staff Stephen Miller accusing the nonpartisan office of being “lefty” and touting the legislation as a “dream bill.”
House Majority Leader Steve Scalise slammed the CBO report at a press conference with Republican leadership on Wednesday morning, taking issue with it not recognizing potential economic growth, which it will do in a later, separate estimate.
“I get we have to play by the rules of the referee, but the referee is wrong. The referee is trying to sack our quarterback,” Scalise said.
The bill narrowly passed the House in May, but now some GOP members are signaling regret on their stamp of approval. Georgia Rep. Marjorie Taylor Greene, a staunch Trump ally, wrote in a social media post that she wasn’t aware of a provision related to AI regulations and that she would have voted against the bill had she known it was included. Greene called for the measure to be removed by the Senate.
Meanwhile, President Trump is set to meet with the Senate Finance Committee at the White House later Wednesday in his push to have the megabill passed.
The president’s lashed out at GOP senators who are threatening to complicate that, including Kentucky Sen. Rand Paul.
This is a developing story. Please check back for updates.
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