Washington, D.C. — Today, the Congressional Budget Office (CBO) released new analysis showing that President Donald Trump and congressional Republicans’ One Big Beautiful Bill Act adds at least $4.1 trillion—and potentially up to $5 trillion—to the national debt. In response, Neera Tanden, president and CEO of the Center for American Progress, released the following statement:
Congressional Republicans’ bill has perpetrated a fraud on the American people, ripping away critical services and benefits, like health care and food, in the name of fiscal discipline while exploding the debt to overwhelmingly benefit billionaires. Proponents of the law believe they can waive a magic wand and pretend that temporary tax breaks cost nothing, but this new report from the CBO shows doing so would cost as much as $5 trillion.
Let’s be clear: This debt-exploding bill comes at a real cost for Americans, who are already bearing the burden of the president’s reckless tariffs. Congress has a moral obligation to roll back these preposterous tax breaks for billionaires and special interests that will force Americans to pay more in higher interest rates for a home mortgage, small-business loan, credit cards, and more. Donald Trump and congressional Republicans have made it crystal clear where their priorities lie, and it’s not with the American people.
For more information or to speak with an expert, please contact Colin Seeberger at [email protected].