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The Latest Breaking News from the Congressional Budget Office

Rural hospitals will be hit hard by Trump’s signature spending package

The public health provisions in the massive spending package that President Donald Trump signed into law on July 4, 2025, will reduce Medicaid spending by more than US$1 trillion over a decade and result in an estimated 11.8 million people losing health insurance coverage.

The Conversation

Social Security Administration Sends 'Unbelievable' Email On Trump's 'Big, Beautiful Bill': Report

The Social Security Administration (SSA) has come under scrutiny for distributing an email that inaccurately describes the impact of President Donald Trump’s new tax legislation on Social Security benefits.

Benzinga

Trump Signs Sweeping Tax And Spending Bill That CBO Says Will Add $3.3 Trillion To US Deficit, Cut Health Coverage For 11.8 Million Americans

On Friday, President Donald Trump signed a sweeping tax and spending bill into law during a July 4 picnic at the White House, touting it as a historic win, even as the Congressional Budget Office projects it will significantly widen the federal deficit and leave millions uninsured.

Benzinga

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‘The ultimate betrayal’: Gavin Newsom just reminded us who really won under Trump — spoiler, it isn’t you

Gavin gets it, you get screwed.

We Got This Covered

What is in Trump's tax and spending bill that will soon become law?

The bill is set to massively widen the US’ budget deficit and leave an added 12 million Americans without health insurance.

Euronews

Employers are failing to insure the working class – Medicaid cuts would leave them even more vulnerable

The Congressional Budget Office estimates that 7.8 million Americans across the U.S. would lose their coverage through Medicaid – the public program that provides health insurance to low-income families and individuals – under the One Big Beautiful Bill Act making its way through Congress.

The Conversation

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

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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.

The Conversation

David Stockman: Trump Is a 'Faker' on the Debt

Reagan's budget chief warns that the One Big Beautiful Bill Act could balloon the national debt to $60 trillion, risking a catastrophic bond market crisis.

Reason

Food aid cuts and other changes: What the U.S. House spending bill could mean for Texans

Many low-income families would see cuts in health care and food benefits. The state hopes for a big reimbursement for border security spending.

The Texas Tribune

Work requirements are better at blocking benefits for low-income people than they are at helping those folks find jobs

Republican lawmakers have been battling over a bill that includes massive tax and spending cuts. Much of their disagreement has been over provisions intended to reduce the cost of Medicaid.

The Conversation

To save Trump’s ‘one big, beautiful bill,’ Republicans disregard the math

ANALYSIS: Analysis: The leadership doesn’t like the debt-exploding numbers of Donald Trump’s proposal exposed by the Congressional Budget Office, Eric Garcia writes

The Independent UK

Trump’s Big Beautiful Bill edges closer to passing. Here’s what it says, and what it means for you

The bill looks to slash taxes and increase spending on oil drilling, the military, and immigration, while also making cuts to Medicaid and food assistance programs

The Independent UK

Will Moody's U.S. credit downgrade trigger 'flight to quality?'

It’s no secret the national debt is on an unsustainable path.

Fortune

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Roll Call

Weekend do-over planned for 'big, beautiful' budget package - Roll Call

The House Budget Committee plans to try again Sunday night to advance the GOP reconciliation package after four Republican dissenters torpedoed the measure at a markup Friday.

The Independent UK

The warring tribes within the Republican party – and how their differences could sink Trump’s ‘big beautiful bill’

ANALYSIS: The GOP is all on board for Medicaid work requirements. Beyond that, there’s little unity yet, writes John Bowden

Latin Times

AOC Posts Two-Word Response as CBO Projects Millions Could Lose Medicaid Under GOP Proposals: 'Told Ya'

AOC reacted to a report by the Congressional Budget Office showing that several Republican-backed Medicaid policy options could result in millions of Americans losing health coverage.

Reason

Congress and DOGE Can Find Spending Cuts at the Department of Defense

The U.S. can defend itself at a lot less expense.

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Roll Call

Graham unveils budget blueprint ahead of markup next week - Roll Call

The Senate fiscal 2025 budget resolution aims to boost border and military spending and expand domestic energy production.

Reason

Finding Trillions in Federal Cuts Is Easy. But Will Trump and Musk Follow Through?

DOGE won't necessarily have to kill any of Republicans’ sacred cows—but they will have to be put on a diet.

The Independent UK

US population projections shrink from last year because of declining birth rates, less immigration

The Congressional Budget Office has shrunk its projections for the U.S. population in 30 years to 372 million residents

The Independent UK

US deaths expected to exceed births within a decade

A drop in birth rates is expected due to an estimated loss in immigration

Fortune

Trump tariffs would shrink the federal deficit, but also the economy, CBO says

The CBO estimated that more tariff revenue would help shrink the federal budget deficit by $2.7 trillion from fiscal years 2025 to 2034.

Al Jazeera

US Congress debates last-minute spending bill to avert government shutdown

Nonessential government functions are expected to shutter on Saturday unless a government spending bill can be passed.

Reason

Keeping These Tax Cuts Is a Bad, Expensive Idea

Everyone loves lower taxes, but cutting them without reducing spending is bad news for the national debt.

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Alexandria OcasioCortez

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