The Republican-led House has advanced a significant bill extending many provisions from the 2017 Tax Cut and Jobs Act, including enhanced tax benefits, but at a substantial fiscal cost. The Congressional Budget Office predicts the bill will increase deficits by $2.3 trillion over the next decade and elevate the national debt by an estimated $3.1 trillion. The bill's provisions, such as an increased child tax credit and changes to SALT deductions, address fiscal measures but may exacerbate existing concerns about the nation's growing financial obligations.
The House has passed a bill extending the 2017 tax cuts and various tax benefits, projected to add significantly to the national deficit and debt.
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