The analysis by the Congressional Budget Office revealed that Donald Trump's tax legislation would create a $2.4 trillion deficit in the national debt over the next decade, with federal revenues decreasing by $3.67 trillion and spending cuts amounting to $1.25 trillion. This bill, which extends Trump's 2017 tax cuts, has faced backlash from some Republicans, including Elon Musk, who condemned it on social media. The legislation's spending reductions heavily affect Medicaid and food assistance programs, potentially leaving millions without health insurance by 2034.
Donald Trump's tax bill would decrease federal revenues by $3.67 trillion while cutting spending, leading to a projected $2.4 trillion increase in national debt over a decade.
Elon Musk criticized the legislation as a 'disgusting abomination,' highlighting internal GOP tensions and dissent over Trump's signature tax cuts and spending cuts.
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