@pbsnews: President Donald Trump's "big, beautiful" bill could add $2.4 trillion to the nation's deficits over the next 10 years, according to an updated analysis by the nonpartisan Congressional Budget Office (CBO). CBO's new cost estimate released Wednesday also projects the bill will cut taxes by $3.7 trillion over the next decade and reduce federal spending by $1.2 trillion. With the expected cuts to health care, the budget office estimates the bill will leave 10.9 million people without health insurance by 2034. The report comes one day after billionaire Elon Musk, who led a White House initiative that purported to clean up waste, fraud and abuse in the federal government, criticized the bill as a "disgusting abomination." Republicans have downplayed the new estimate. White House press secretary Karoline Leavitt said the CBO has been “historically wrong." Congress established the office in the 1970s “to provide objective, nonpartisan information to support the congressional budget process and to help the Congress make effective budget and economic policy,” according to CBO’s website. The House passed the bill last month and now awaits action in the Senate. The Trump administration is pushing to have it passed before July 4. The budget office also released a separate analysis of Trump's tariffs, projecting the president's sweeping policies would reduce the federal deficit by $2.8 trillion over 10 years, raise inflation and shrink the size of the economy. Lisa Desjardins reports. #pbsnewshour #pbsnews #newshour #trumpadministration #republican #gop #congress #budget #capitolhill #news #deficit #nationaldebt #debt #cbo
pbsnews
Region: US
Wednesday 04 June 2025 23:30:00 GMT
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Genothomp :
yea all those tax cuts will for sure help. the billionaires will definitely not horde wealth anymore. they will dump money into the economy. prices will go down in fact. one thing I know about corporations and billionaires is they love to cut prices when they can
2025-06-05 05:04:16
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Christy :
Meanwhile, our tax dollars pay for their healthcare! Even if we can’t afford our own healthcare.
2025-06-05 00:21:09
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Novagurl411 :
Remember in school when the teacher grades that major test on a curve and that one kid scored 100%, plus the ultra bonus extra points and flunked half the class? Well, the emerging ultra-wealthy class is about to flunk the rest of the middle class. By changing the tax code and tampering with the stock market. They’re not even offering a good or a service that they demand of us. They want to build resorts for their ultra wealthy foreign buddies! Let’s see how this plays out. Make America great again!
2025-07-01 07:42:30
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Michael Hagan :
Raegan trickle down economics never panned out. 🙄
2025-06-05 00:14:51
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castle2121 :
$2.4 trillion over 10 years, is $240 billion per year. Wonder how much tariffs will bring in...
2025-06-05 02:34:08
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Whitney :
Are we great yet?
2025-06-04 23:39:36
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SpreadThemCheeks4Me :
The bill proposes to make permanent the lower individual income tax rates and thresholds established in the 2017 tax cuts, including a doubled standard deduction and family tax credits. It also includes provisions for no tax on tips, overtime pay, and car loan interest, along with tax relief for seniors. The bill also proposes cuts to Medicaid and other social programs. So we get people complaining about the cost of living, then get tax breaks at their level, but then we hate it because “oRaNgE mAn BaD!” And “mAgA CuLt”. Then we are fine with adding to it, so long as we dump billions into someone else’s war.
2025-06-06 14:20:12
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SimSimma🐿️ :
Concept of a plan
2025-06-04 23:37:02
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lemondrop :
Weird she said the debt but didn’t know the growth 🤯 Biden and Harris gave more than the debt amount to other countries 🤔 listen carefully. Negative reporting once again
2025-06-07 17:33:37
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Earthling :
Our health and medical system did much better when hospitals were nonprofit organizations.
2025-06-05 12:27:56
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Milo :
i love our country. totally.
2025-06-05 00:32:22
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lorilynregis :
how much are tarrifs bringing in and how much are we saving with the welfare not being paid out to people who don't needvit
2025-06-05 03:20:04
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CPtsd Mommy :
We need transparency about the corporate lobbyists running our country!!! Read smoke, mirrors and money trails on my website- they won’t publish or promote this content! They’re watching- move fast! Link in my bio
2025-06-05 14:31:56
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koikeeper88 :
im on medicaid & ssi. im disabled and have 2 autoimmune disease along with barrettes disease. if I loose my medicaid I will die!!! 🥺 I will have no Healthcare and medication that are essential for me to live!! #SCAREDTODIE
2025-06-05 16:54:40
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Sparks2603 :
I have health insurance and still owe 9k from 2 visits because I had pneumonia 💀💀💀
2025-06-06 01:26:25
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ann wells :
bill giving trump unlimited executive power & restricting states from regulating AI disinformation!
2025-06-05 08:30:19
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🤔🧐😉 :
PBS News always keeping us honestly informed!
2025-06-05 01:40:37
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lizzard1957 :
Can you talk about SSA.gov website going down? This is preventing me from accessing Medicare.
2025-06-05 16:43:28
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rudy :
only people who should have insurance is elderly and disabled people. everyone else should work. and force companies to have health insurance
2025-06-07 02:23:07
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marii :
Why does it have an AI provision that prohibits states from passing legislation for 10 years?
2025-06-05 22:03:58
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Jacob Burt :
Wait so they haven’t even done the math on how much money we would make???? This is kinda outrageous
2025-06-06 00:46:31
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weezyEbabiee :
Yes, it’s freaking worth it. Haven’t they sent more than that to another countries?! Multiple other countries altogether, and just the last year to two. I sure hope we got it. I’m pretty sure we should be able to have it for ourselves, too you would think 🤦♀️fuuuuucxx
2025-06-05 22:29:31
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Shawn Moore :
How does one actually ka-calculate?
2025-06-05 15:10:35
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OneLoveMiFamilia :
As they keep filling their pockets with our tax dollars we keep working harder for a better country! Still after getting caught with all the fraud and their hands in the cookie jar, we still are coming out the bottom!
2025-06-07 00:55:39
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Victor Zhang :
Big beautiful bill is conflict with trump’s promise on US debt reduction. If dollar lost value by uncontrolled us debt, what those dollars we get from tax breaks will worth?
2025-06-06 15:20:24
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