GOP Megabill Will Increase US Debt by $3.3 Trillion, CBO Projects

The latest version of the budget bill that the Senate is considering will add trillions to the national debt, the Congressional Budget Office (CBO) said in an analysis posted on June 29. The CBO estimates that the Senate version of the Republican-led One Big Beautiful Bill Act will increase the deficit by almost $3.3 trillion from 2025 to 2034. This is a nearly $1 trillion increase from the House-passed version of the bill, which the CBO had initially estimated would add $2.4 trillion to the national debt by 2034, before raising that projection to $2.8 trillion just two weeks later. The increased estimate reflects some of the changes to the bill as Senate Republicans look to pass the legislation—a critical effort to advance President Donald Trump’s agenda—ahead of his July 4 deadline....