House GOP Megabill Would Add $2.4 Trillion to Debt Through 2034: CBO | The Epoch Times


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Key Projections

The Congressional Budget Office (CBO) estimates the House GOP's 'One Big Beautiful Bill Act' would increase the national debt by over $2.4 trillion by 2034. This includes $1.75 trillion added through 2029.

Bill Highlights

The bill aims to enact President Trump's agenda, including:

  • Making the 2017 tax cuts permanent.
  • Raising the debt ceiling by $4 trillion.
  • Including border security and energy provisions.
  • No new taxes on tips or overtime, with taxes on university endowments at specific thresholds.

Reactions

House Majority Leader Steve Scalise dismissed the CBO's estimate.

Current Status

The bill is currently awaiting consideration in the Senate.

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The bill would add $1.75 trillion through 2029, the CBO estimated.

A sweeping GOP bill to enact President Donald Trumpโ€™s agenda that passed the House last month would add more than $2.4 trillion to the national debt by 2034, according to an estimate by the nonpartisan Congressional Budget Office (CBO) released on June 4.
The legislation, called the One Big Beautiful Bill Act, would make the 2017 tax cuts permanent, raise the debt ceiling by $4 trillion, and include provisions related to securing the border and unleashing American energy. It includes no taxes on tips or overtime and would tax university endowments at certain thresholds. It is now pending before the Senate.

The bill would add an estimated $1.75 trillion through 2029, according to the CBO.

House Majority Leader Steve Scalise (R-La.) dismissed the CBO estimate.

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