The tax and spending law signed by President Trump is projected to increase federal deficits by $3.4 trillion through 2034, according to the CBO. The legislation will contribute to over 10 million uninsured individuals by 2034, an improvement from earlier estimates. Republicans advocate the bill as beneficial for most Americans, yet a significant portion of the public doubts its impact on wealth distribution. The bill extends tax rates and modifies deductions, while also implementing cuts in Medicaid and other assistance programs. Democrats criticize the law as harmful and a betrayal of public trust.
President Donald Trump's tax and spending law will add $3.4 trillion to federal deficits through 2034, a slight increase in the projection due to final tweaks.
More than 10 million people will be uninsured under the law in 2034 according to CBO, an improvement from an earlier projection of 11.8 million.
Republicans tout the bill as a tax cut for all Americans, but a recent poll shows two-thirds of U.S. adults expect it will help the rich.
Democrats emphasize CBO's findings, arguing that the bill represents a significant betrayal and will ultimately be detrimental to Republicans.
Collection
[
|
...
]