Trump's Budget Bill Will Add $3.4T to Deficit, CBO Says in Final Estimate

The "One Big, Beautiful Bill Act" is estimated to result in "a decrease in direct spending of $1.1 trillion and a decrease in revenues of $4.5 trillion" over the next 10 years, according to the Congressional Budget Office.

The Details: Most of the bill's estimated costs come from tax provisions and cuts. The CBO also estimated that the law would lead to roughly 10 million people losing health insurance by 2034.

For Context: Before the bill was adjusted and signed into law, the CBO estimated it would add $2.4 trillion to the national deficit. 

How the Media Covered It: Left-rated outlets were more likely than right-rated outlets to highlight the CBO report, framing it as overly expensive and harmful for many Americans. Some focused on how the new law will impact health insurance, welfare benefits, and other programs. Right-rated sources that did cover the report sometimes focused on numbers suggesting the law could help reduce the deficit. The Washington Examiner (Lean Right) highlighted how "the CBO also scored the bill using a current policy baseline, which assumes that the 2017 Trump tax cuts would not expire, and found that it would reduce the deficit by $366 billion." Most left-rated outlets didn't mention that part of the CBO's study.