Trump tax bill will add $2.4 trillion to the deficit and leave 10.9 million more uninsured, CBO says

Prior to the release of the Congressional Budget Office’s analysis, the White House and Republican leaders launched a campaign criticizing the budget office in an attempt to cast doubt on its findings.
President Donald Trump is seen speaking during an event at the White House in Washington. AP Photo/Mark Schiefelbein, File
By LISA MASCARO, Associated Press
June 4, 2025 | 2:55 PM
4 minutes to read
WASHINGTON (AP) — An analysis from the Congressional Budget Office revealed on Wednesday that President Donald Trump’s significant bill moving through Congress would reduce taxes by $3.75 trillion but also result in an increase of deficits by $2.4 trillion over the next decade.
The CBO’s report also predicts that by 2034, there will be an additional 10.9 million people without health insurance under the bill, including 1.4 million individuals in the United States without legal status in state-funded programs.
The budget office stated that the package would lower federal spending by nearly $1.3 trillion during that period.
Rep. Brendan Boyle of Pennsylvania, the top Democrat on the House Budget Committee, referred to the bill as a “disgusting abomination,” echoing criticism from billionaire former Trump aide Elon Musk.
House Speaker Mike Johnson mentioned that he attempted to reach out to Musk to discuss the concerns but had not received a response.
Trump is urging Congress to move forward with the bill as he aims to have it ready for his signature by the Fourth of July.
The White House and Republican leaders had already criticized the CBO before the release of its findings in an effort to undermine the credibility of the office.
Ahead of the release, White House press secretary Karoline Leavitt and Senate Majority Leader John Thune questioned the accuracy of the CBO, claiming historical inaccuracies in its projections.
The bill, known as the One Big Beautiful Bill Act, is progressing through Congress and is a key agenda for the Republicans, who are met with resistance from Democrats labeling it as Trump’s “big, ugly bill.”