#cbo

#cbo

Driving the news: The CBO detailed its findings Wednesday in a letter to Sen. Minority Leader Chuck Schumer (D-N.Y.) and Sen. Jeff Merkley (D-Ore.). The office cautioned its estimate is "uncertain," however, because the Pentagon declined to share information about its implementation. The fine print: Total costs will vary based on how quickly and widely the "War" nomenclature is adopted, including on signs, letterheads and websites. (What was once defense.gov is now war.gov.)

President Trump's One Big Beautiful Bill Act is projected to add over $4 trillion to the deficit, which is $700 billion more than previously estimated.

The Congressional Budget Office predicts that the megabill Trump signed on July 4 would increase the federal deficit by $3.4 trillion and cause ten million people to lose health insurance.

The tax and spending bill pushed by Republicans, supported by Trump, could result in 10.9 million people losing health coverage, according to the CBO.