CBO is digging to “Big and Beautiful Bill” and now says it will make a deficit of $ 2.8 trillion
The report, which you produced The non -partisan Omani Central Bank The Joint Taxes Committee, and the factors in the expected debt service costs and find that the draft law will increase interest rates and enhance interest payments on the basic projection of federal debts by $ 441 billion.
The analysis comes in a decisive moment Trump pushes Congress led by the Republican Party To work on what he calls “Big and beautiful.” The House of Representatives approved last month to vote the party line, and is now facing Reviews in the Senate. Vice President JD Vance urged Republicans in the Senate during a special lunch meeting on Tuesday to send the final package to the President’s office.
“We are excited to bring out this draft law,” said John Thun.
On Tuesday, the dynamic analysis is used by estimating the budget impact of the draft tax law by looking at how the changes in the economy affect revenue and spending. This is contrary to the fixed registration, which is assumed that all other economic factors remain fixed.
The Central Bank of Oman I released a fixed registration analysis Earlier this month, the estimate that the Trump bill will launch trillion in tax cuts and reduce spending, but also increases the deficit by $ 2.4 trillion over the course of the contract and leaves about 10.9 million people without health insurance.
Republicans have repeatedly argued that a more dynamic registration model will appear more precisely how tax reduction will increase economic growth – overcoming any lost revenue for the federal government.
However, the largest deficit numbers in the new analysis gave the Democrats, who are united against the major draft law, new arguments to challenge the position of the Republican Party, which will be pushed by tax cuts in the first place.
“The Republican claims that this law does not add to religion or deficit, laughing, and evidence of numbers,” said Senator Jeff Mercli of Oregon, the highest democratic of the Senate Budget Committee.
“The cost of these tax donations to billionaires, even when considering economic growth, will add more to the debt than we expected previously,” he said.
Mark Goldwin, Senior Vice President and Director of the Supreme Policy of the Committee to obtain a responsible federal budget, said on Tuesday on social media that looking at the new dynamic analysis, “not only pays himself, but does not pay the price of any of himself.”
Treasury Secretary Scott Pesin The other Republicans have sought to discredit the Central Bank of Oman, saying that the organization does not give sufficient credit to the economic growth that the bill will create.
In Capitol, Mohamed Oz, who heads the Medicaid and Medicare services centers and joined Vance at the Senate Lunch, the Republican Party was challenging the results of the Central Bank of Oman when he was asked about his appreciation that the bill would leave 10.9 million people without health care, to a large extent of new work requirements.
“What will the American do if he is given the option to try to obtain a job, education or volunteering their community – after some participation – or lose their medical insurance coverage?” Oz request. “I have more confidence in the American people more than some analysis organizations provided to them.”
Republicans on the Senate Finance Committee revealed their proposal on Monday in the deeper Medicaid discountsIt includes New work requirements for adolescent fathersAs a way to compensate for the costs of making the Trump tax more permanently disrupted in the big bill.
Also, the Senate version of the package enhances the new proposed tax holiday for the elderly, with a $ 6000 more discount for low to medium -income living families of no more than $ 75,000 annually for songs, $ 150,000 for couples.
Republican proposals in the Senate continue in their current place to deduct 10,000 dollars for government and local taxes, which are called Salt, and a rapid reaction from legislators from the Republican Party from New York and other high -tax states decreased, Fight for a maximum of $ 40,000 In a draft law passed at home. Senators insisted on continuing negotiations.
Pesin said on Tuesday that the Republican proposal for the Senate of the draft tax cuts law “will provide permanence and certainty of taxpayers and business alike are looking for it, which leads to growth and unleashing the American economy.”
He said in a press statement: “We are looking to continue working with the Senate and the Council to further improve this bill and bring it to President Trump’s office.”
While the draft law that was nominated in the House of Representatives has given parents with the recipients of the new Medicaid work requirements, the Senate version expanded the condition that the parents of children over the age of 14, as part of their efforts to combat waste in the program and pay personal responsibility.
Oz said the work requirements “prove that you are trying to help this country to be bigger.” “By doing this, you gain the right to be on medicaid.”
The Central Bank of Oman Another analysis was released separately On the tax bill last week, including a look at how the procedure affects families based on income distribution. It is estimated that the bill will cost the poorest of Americans about $ 1,600 a year, as the richest families’ income increases by $ 12,000 annually.
