President Donald Trump’s big bill making its way through Congress will cut taxes by $3.75 trillion but also increase deficits by $2.4 trillion over the next decade, according to an analysis released Wednesday by the nonpartisan Congressional Budget Office.
The CBO also estimates an increase of 10.9 million people without health insurance under the bill by 2034, including 1.4 million who are in the United States without legal status in state-funded programs.
The package would reduce federal outlays, or spending, by nearly $1.3 trillion over that period, the budget office said.
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