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The Latest Breaking News from CBO

Elon Musk and Most Taxpayers Don't Like What's in Trump's 'Big Beautiful Bill'

President Trump is betting big on his newest tax cuts, signed into law on July 4. But not everyone is on board.

Kiplinger

US Senate passes Trump's 'big beautiful' tax and cuts bill after turbulent all-nighter

The package now goes back to the House, where Speaker Mike Johnson had warned senators not to overhaul what his chamber had already approved.

Euronews

Who wins, who loses if Trump’s One Big Beautiful Bill becomes law?

The rich, families with children, some carmakers, will gain, while EV makers, those on food stamps, Medicaid will lose.

Al Jazeera

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Senate's Tax Bill Will Add $270 Billion to the Deficit Next Year, Despite Gimmicks

The House-passed version of the One Big Beautiful Bill Act was fiscally irresponsible. The Senate has made the bill worse.

Reason

US Senate begins debate on Trump’s ‘Big, Beautiful Bill’

Forecaster says the bill would cut health cover for 11.8 million people and increase deficit by $3.3 trillion.

Al Jazeera

Senate megabill would explode debt and kick 11.8 million off Medicaid: ‘Our fiscal house is basically on fire’

Over a decade, the bill would add at least $3.3 trillion to the national debt, according to the Congressional Budget Office

The Independent UK

Senate opens debate on Trump’s bill estimated to add $3.3tn to US debt

Democrats required clerks to read aloud the 940-page bill focused on tax cuts, immigration policy and healthcare

The Guardian - US

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Senate Republicans advance Trump’s ‘big, beautiful’ bill in key vote

Clearing an important procedural hurdle, the Senate voted 51 to 49 to open debate on the legislation

The Guardian - US

What's in the latest version of Trump's big bill now before the Senate

At some 940-pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations

The Independent UK

The Latest: NATO leaders agree on spending hike, vow to defend each other

NATO leaders agreed on Wednesday on a massive hike in defense spending after pressure from U.S. President Donald Trump, and expressed their “ironclad commitment” to come to each other’s aid if attacked

The Independent UK

10,000 people a year might die under Donald Trump’s rule but don’t worry the billionaires are doing fine

The American Dream, redefined.

We Got This Covered

Republican senators’ proposed Medicaid cuts threaten to send red states ‘backwards’

Advocates fear Senate’s version of Trump’s budget bill could leave millions without healthcare and boost corporations

The Guardian - US

Trump's Immigration Crackdown Is Overwhelming ICE Facilities and Running Up Huge Bills

The cost of Trump's immigration crackdown keeps going up.

Reason

‘Nobody’s pushed back on my numbers’: Lone GOP senator revolts against party’s $2.8 trillion deficit-busting megabill

Ron Johnson stands alone against fiscal fantasy.

We Got This Covered

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Reason

The F-35 Ages Worse Than the Planes It's Meant To Replace

House Republicans' budget would spend billions of dollars on the F-35's successor before the current model is even up to par.

Reason

The 'Big Beautiful Bill' Will Require Even More Borrowing Than Previously Thought

After accounting for the dynamic effects of the Trump-backed tax bill, the CBO concludes it will add $2.8 trillion to the deficit over 10 years.

Latin Times

GOP Lawmaker Declares He's 'Not Voting for a Bill That Grows Deficits' in Critique of Trump's 'Big, Beautiful Bill'

A Republican lawmaker went against his party, stating that he will not vote for the "one big, beautiful bill" due to the deficits it will create if passed.

The Guardian - US

America had open borders until 1924. Racism and corporate greed changed that

The primary justifications for early immigration laws were xenophobia, eugenics, and overt racism. Understanding the history of immigration is essential

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The Conversation

House tax-and-spending bill and other Trump administration changes could make millions of people lose their health insurance coverage

President Donald Trump has promised not to cut Medicaid many times over the past decade, including in the tax-and-spending legislative package he has made a top priority in his second administration.

Roll Call

Walz and Johnson make misleading claims about bill’s impact on SNAP - Roll Call

Both Democrats and Republicans exaggerate the impact of the bill's cuts on the Supplemental Nutrition Assistance Program.

Salon

CBO: House bill funnels wealth to top

The CBO says the bill will provide substantial gains for America's wealthiest while slashing resources for the poor

Roll Call

CBO: GOP budget bill would take from the poor, give to the rich - Roll Call

Analysis finds reconciliation bill would most benefit high earners and reduce financial resources available to the lowest-income households.

The Independent UK

Big changes are being proposed for a US food aid program. Here's a breakdown by the numbers

Big changes are being are being proposed to a food aid program as part of President Donald Trump's tax-cut legislation

Roll Call

CBO: Debt limit 'X-date' likely not until mid-August at earliest - Roll Call

In its monthly budget review for May, Treasury altered its estimate to two weeks later than earlier estimates.

International Business Times UK

Trump's Tax-Cut Bill Would Leave 11M More People Uninsured in 10 Years, Bump Federal Deficit by $2.4T

US President Donald Trump's tax cut bill could increase the federal deficit by trillions of dollars and strip 11 million Americans of health insurance coverage, primarily Medicaid, through 2034.

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