Donald Trump’s landmark tax bill will add $2.4tn to the US debt by 2034, the congressional fiscal watchdog has warned, in the latest blow to the president as he urges the Senate to back the legislation.
The Congressional Budget Office said on Wednesday that what the US president has dubbed the “big beautiful bill” would drive up budget deficits over the coming decade, despite the administration’s insistence it would slash them.
The non-partisan estimate comes a day after billionaire Trump backer Elon Musk attacked the bill as a “disgusting abomination”, arguing that it would undo much of the cost-cutting work of his so-called Department of Government Efficiency.
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