Donald Trump says his sweeping tax cuts will grow the economy. But, critics say the bill will increase national debt.
Dubbed the “One Big Beautiful Bill Act”, President Donald Trump’s signature policy bill would slash taxes, largely benefitting the wealthiest Americans.
To pay for it, federal spending would be reduced, including on Medicaid, food stamps and student loans. Supporters say the bill could jumpstart economic growth and create jobs.
Critics, including some Republicans, say millions of Americans would pay the price. And the non-partisan Congressional Budget Office estimates the bill would actually add an estimated $3.3 trillion to debt over a decade.
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