Sky News Arabia – Abu Dhabi
The non-partisan Congressional Budget Office (CBO) released an analysis stating that US President Donald Trump’s proposed tax bill would cut taxes by $3.75 trillion while increasing the budget deficit by $2.4 trillion over the next decade. The CBO also projected that the number of uninsured individuals would rise to 10.9 million by 2034, including 1.4 million undocumented residents. Additionally, federal spending would decrease by nearly $1.3 trillion during the same period.
Democratic Representative Brendan Boyle criticized Republicans for their inconsistent stance on national debt, while White House spokesperson Caroline Levit dismissed the CBO’s findings as historically inaccurate. Despite Republican control of Congress, the bill faces strong opposition from Democrats, who label it as “Trump’s big ugly bill.” The House of Representatives narrowly passed the bill with a vote of 215 to 214, marking a significant step toward fulfilling Trump’s agenda.
— new from (Sky News Arabia Economics)