US Congress Passes Trump’s “Big, Beautiful” Tax and Spending Bill — But Could It Add $3.3 Trillion to the National Debt?

 

In a significant and hard-fought victory, the US Congress has passed the tax and spending bill championed by President Donald Trump, marking a major milestone in his domestic agenda.

What is the Bill About?

This legislation represents one of the largest tax and spending packages in recent years and has sparked intense debate among lawmakers and economic experts due to its potential impact on the US economy.

Financial Impact:

According to estimates from the Congressional Budget Office (CBO), the bill could increase federal deficits by $3.3 trillion over the next decade.

This projection raises concerns about the growing national debt and its implications for long-term economic stability.

Trump’s Statement:

Despite the concerns, President Trump hailed the bill as a "big, beautiful bill," stating:

"This is going to be a great bill for the country."

Trump views the legislation as an opportunity to boost economic growth and encourage domestic investment.

What Does This Mean for the US National Debt?

The expected increase in deficits could push the national debt to record levels, prompting questions about how the government will finance this additional debt and whether the economy can sustain it without harming interest rates or financial market stability.

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Conclusion:

While supporters praise the bill’s economic benefits, critics warn of the risks associated with rising deficits and debt. The key question remains: can this legislation achieve its economic goals without triggering a future financial crisis?