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On Wednesday, the Congressional Budget Office (CBO) delivered a significant blow to the so-called “Big Beautiful Bill.” This analysis casts a shadow over the aspirations of Donald Trump and his Republican allies in Congress.
The “One Big Beautiful Bill Act,” a sweeping tax and immigration proposal designed to fund significant portions of President Donald Trump’s agenda, is projected to increase the deficit by $2.4 trillion over the next decade, as revealed in a new CBO analysis released Wednesday.
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By 2034, the CBO anticipates that 10.9 million additional individuals will lack health insurance due to modifications in the healthcare system.
Moreover, the CBO estimates that the bill will result in a $3.7 trillion reduction in taxes and a $1.2 trillion decrease in spending. However, a comprehensive assessment of the macroeconomic implications of the bill remains pending.
Alas, the assertions made by Trump and Speaker Mike Johnson—that no one will lose their health insurance and that the bill will not contribute to the deficit—have been debunked by the CBO’s findings.
These claims do not hold water, as per the CBO analysis.
While it may be premature to declare the overall concept of a “Big Beautiful Bill” dead, the prospects for the Senate to pass a version of the House bill without substantial alterations appear grim.
Future iterations of a bill that could bear the name “Big Beautiful Bill” might emerge, but it’s highly unlikely that this particular proposal will be among them.
The CBO’s analysis is likely music to the ears of those opposing the bill, highlighting the substantial flaws within the “Big Beautiful Bill” that could ultimately lead to its legislative failure.
What are your thoughts on the CBO analysis? We encourage you to share your insights in the comments below.
