Trump tax bill to add $3.4tn to US debt over next decade, new analysis finds

Donald Trump holds his signed signature bill of tax breaks and spending cuts at the White House, on 4 July 2025. Photograph: Julia Demaree Nikhinson/AP

Donald Trump’s new tax bill will add $3.4tn to the national debt over the next decade, according to new analysis from the nonpartisan Congressional Budget Office (CBO) released Monday.

Major cuts to Medicaid and the national food stamps program are estimated to save the country $1.1tn – only a chunk of the $4.5tn in lost revenue that will come from the bill’s tax cuts.