CBO says 'big, beautiful bill' will add $3.4 trillion to deficits in final estimate

The Congressional Budget Office said that the final version of the One Big Beautiful Bill Act will add just under $3.4 trillion to deficits over the next decade.

The new numbers, which came after a marathon reconciliation process in which many provisions of the megabill were changed at the last minute, represent a $4.5 trillion decrease in tax revenues and a $1.1 trillion cut in spending through 2034. The number is the CBO’s final estimate for the megabill’s cost.