
US President Donald Trump's 'big, beautiful bill' cleared the House last month and is now in the Senate.
According to the Congressional Budget Office estimates, the bill, if passed, would trim federal spending by £957.68 trillion ($1.3 trillion) by 2034. It would also lead to tax cuts of £2.76 trillion ($3.75 trillion) and add £1.76 trillion ($2.4 trillion) to the federal deficit in the same period.