{"id":18198,"date":"2025-06-16T16:06:33","date_gmt":"2025-06-16T16:06:33","guid":{"rendered":"https:\/\/lonecandle.com\/?p=18198"},"modified":"2025-06-16T16:06:34","modified_gmt":"2025-06-16T16:06:34","slug":"the-big-beautiful-bill-will-add-2-4-trillion-to-the-deficit","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=18198","title":{"rendered":"The &#8216;Big Beautiful Bill&#8217; Will Add $2.4 Trillion to the Deficit"},"content":{"rendered":"\n<p>&#8220;In March, President Donald Trump stood before a joint session of Congress and vowed to &#8220;do what has not been done in 24 years: balance the federal budget.&#8221;<\/p>\n\n\n\n<p>The first major legislative package of Trump&#8217;s second term, however, will throw the federal budget farther out of balance, the Congressional Budget Office (CBO) concluded in an updated assessment of the bill.<\/p>\n\n\n\n<p>The CBO estimates that the One Big Beautiful Bill Act, which cleared the House late last month and is awaiting a vote in the Senate, will increase deficits by $2.4 trillion over the next 10 years. The bill will reduce tax collections by an estimated $3.75 trillion over that period, while reducing government spending by an estimated $1.3 trillion.&#8221;<\/p>\n\n\n\n<p><a href=\"https:\/\/reason.com\/2025\/06\/04\/the-big-beautiful-bill-will-add-2-4-trillion-to-the-deficit\">https:\/\/reason.com\/2025\/06\/04\/the-big-beautiful-bill-will-add-2-4-trillion-to-the-deficit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;In March, President Donald Trump stood before a joint session of Congress and vowed to &#8220;do what has not been done in 24 years: balance the federal budget.&#8221;<\/p>\n<p>The first major legislative package of Trump&#8217;s second term, however, will throw the federal budget farther out of balance, the Congressional Budget Office (CBO) concluded in an updated assessment of the bill.<\/p>\n<p>The CBO estimates that the One Big Beautiful Bill Act, which cleared the House late last month and is awaiting a vote in the Senate, will increase deficits by $2.4 trillion over the next 10 years. The bill will reduce tax collections by an estimated $3.75 trillion over that period, while reducing government spending by an estimated $1.3 trillion.&#8221;<\/p>\n<p>https:\/\/reason.com\/2025\/06\/04\/the-big-beautiful-bill-will-add-2-4-trillion-to-the-deficit\/<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[905,542,7,278,221,1193,906,411,279,170],"class_list":["post-18198","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-bill","tag-congress","tag-debt","tag-deficit","tag-donald-trump","tag-government-spending","tag-legislation","tag-policy","tag-spending","tag-trump"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/18198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18198"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/18198\/revisions"}],"predecessor-version":[{"id":18199,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/18198\/revisions\/18199"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}