@ADailyViolet Oh no. So much paperwork. The life of a #CBO

Here is a summary via Reuters of some elements of the #Republican tax & spending plan, with cost & savings estimates by the Congressional Budget Office (#CBO) or the Joint Committee on Taxation when available.

#House #USpol #Trump #MafiaState #OneBigUglyBill #OneBigBeautifulBill #BillionaireTaxCuts #CorporateTaxCuts #Medicaid #ACA #SNAP #CleanEnergy #Climate #ClimateSolutions #Immigration #BorderWall #ICE #Detention #MassDeportation
https://www.reuters.com/world/us/trump-big-beautiful-bill-live-updates-2025-07-02/

The #Senate plan to slash #Medicaid & #ACA marketplace #funding could lead to nearly 12 million more people without insurance by 2034, the #CBO estimates. That in turn would harm the finances of #hospitals, #NursingHomes & #community #health centers—which would have to absorb more of the cost of treating #uninsured people—& may force them to reduce services & employees, as well as close facilities.

Even without this bill, the #debt has been expected to reach record levels in the coming decades, with the #nonpartisan #CBO estimating that the debt held by the public, now about the same size as the #economy, would grow to become roughly 56% larger than the economy by 2055. Making the 2017 #TaxCuts permanent could push the debt to become more than twice as large as the economy over the next 30 years, Ms. Riedl said.

The #CBO estimates the Senate bill would increase the deficit by nearly $3.3T from 2025 to 2034, a nearly $1T increase over the #House-passed bill, which CBO has projected would add $2.4T to the debt over a decade.

The analysis also found that 11.8 million more Americans would become #uninsured by 2034 if the bill became #law, an increase over the scoring for the House-passed version of the bill, which predicts 10.9M more people would be without #health #coverage.

The #Republican bill’s largest category of spending cuts is in #healthcare, where reductions to #Medicaid & the #AffordableCareAct [#ACA / #Obamacare] total roughly $1 trillion & will result in 10.3 million more Americans losing #HealthInsurance, according to new estimates from the #CBO.

Last-minute changes to the bill, introduced just before it passed the #House, increased the size of cuts to those programs.

To defend their #legislation, some #Republicans & White House aides have taken to attacking the #CBO as politically motivated & unreliable [typical #Trump, shoot the messenger]. But several nonpartisan independent groups that have analyzed the bill have also concluded that it would add significantly to the federal #debt.

In the #House version of the bill, #Republicans also turned to some well-worn gimmicks in a bid to lower the sticker price of the #legislation. Several of the bill’s tax cut provisions, including #Trump’s campaign pledges to not tax #tips & #overtime pay, would last for only a few years. Those cuts could become far more costly if they were continued.

The #legislation was expected to add significantly to the #debt, given the enormous cost of extending the #TaxCuts for corporations & the rich that #Republicans put into place in 2017, the central pillar of the bill. #FarRight lawmakers demanded that the party use their total #control of Washington to also slash #spending & contain the cost of the legislation, but the #CBO’s estimate was a reminder that the party fell well short of covering the roughly $3.8 trillion cost of extending the cuts.

The #CBO analysis focused on the version of the bill that passed the #House late last month, but the cost estimate could change as #Republicans in the #Senate begin to put their imprint on the legislation. #GOP lawmakers there want to deepen some of the bill’s tax cuts, while others are pressing to pare back some its #cuts to #Medicaid, the government #healthcare program for the #poor, & #CleanEnergy tax incentives.