From Global News.

U.S. President Donald Trump is expected to speak at an event at the White House Thursday promoting his tax cut and the "big, beautiful" spending bill.

The package, titled the “One Big Beautiful Bill Act,” would cut taxes by US$3.75 trillion but also increase deficits by $2.4 trillion over the next decade, according to an analysis released Wednesday by the non-partisan Congressional Budget Office (CBO).

The CBO also estimates an increase of 10.9 million people without health insurance under the bill by 2034, including 1.4 million who are in the country without legal status in state-funded programs.

The package would reduce federal outlays, or spending, by nearly $1.3 trillion over that period, the budget office said.

The legislation — which still needs to pass the Senate — would extend Trump’s signature 2017 tax cuts, boost border security spending, impose work requirements on Medicaid and roll back clean energy tax credits.

For more info, please go to https://globalnews.ca/news/11212483/elon-musk-donald-trump-big-beautiful-bill-disgusting-abomination/

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