Trump Budget Bill to Increase Deficit by $2.4 Trillion and Millions Uninsured by 2034
Impacts of Trump Budget Bill on Federal Deficit
According to a new estimate by the Congressional Budget Office, the Trump budget bill would increase the federal deficit by $2.4 trillion over the next decade. This sweeping policy plan by Republicans is aimed at advancing President Trump's second-term agenda.
Health Insurance Cuts and Increased Uninsured Rate
The CBO also projects a shocking increase in the number of uninsured individuals, estimating that 10.9 million more people would lack health insurance by 2034. This rise is primarily attributed to significant cuts to Medicaid and the Affordable Care Act.
Spending Cuts and Tax Changes
- Republicans aim to cut at least $1.5 trillion in spending.
- The tax cuts under this bill will total nearly $3.7 trillion.
- A proposed increase in the debt ceiling by $4 trillion is also included.
This projection highlights the balancing act of cutting spending while implementing substantial tax cuts.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.