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CBO Projects Trump’s ‘One Big Beautiful Bill’ Will Add $3.4 Trillion to Deficits and Leave 10 Million Uninsured

A CBS/YouGov survey finds most Americans expect higher health-care costs after the law cuts Medicaid, SNAP and clean energy funding to finance permanent extensions of 2017 tax breaks.

President Donald Trump holds his signed signature bill of tax breaks and spending cuts at the White House, Friday, July 4, 2025, in Washington, as House Speaker Mike Johnson of La., left, watches and Rep. Steve Scalise, R-La., takes a photo. (AP Photo/Evan Vucci)
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Overview

  • The Congressional Budget Office projects the law will boost federal deficits by $3.4 trillion from 2025 to 2034.
  • By 2034, an estimated 10 million additional Americans will be uninsured compared with current law.
  • CBO officials say average premiums for the ACA benchmark plan will decrease by about 0.6 percent in 2034.
  • A CBS/YouGov poll shows 57 percent of Americans believe the legislation will raise their health-care costs.
  • The law permanently extends 2017 tax cuts and offsets new spending with deep reductions to Medicaid, SNAP and clean energy programs.