President Donald Trump's "big, beautiful bill," passed by the House, is projected to increase the U.S. national debt by $3 trillion with interest, or $5 trillion if temporary provisions are made permanent, according to the Committee for a Responsible Federal Budget (CRFB) and backed by Congressional Budget Office (CBO) estimates. The bill, which addresses tax policy, border security, defense, energy, and adjusts SNAP/Medicaid, is criticized for boosting near-term inflation, increasing interest rates, and weakening market confidence. With the national debt at $36.2 trillion, some lawmakers like Sen. Rand Paul and Elon Musk oppose the bill, urging the Senate to make it more fiscally responsible.
Senate weighs Trump's 'big, beautiful bill' as policy group backs CBO, projects $3 trillion debt increase
TaxesCongressDonald TrumpPoliticsUnited States
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TL;DR: Key points with love ❤️President Donald Trump's "big, beautiful bill," passed by the House, is projected to increase the U.S. national debt by $3 trillion with interest, or $5 trillion if temporary provisions are made permanent, according to the Committee for a Responsible Federal Budget (CRFB) and backed by Congressional Budget Office (CBO) estimates. The bill, which addresses tax policy, border security, defense, energy, and adjusts SNAP/Medicaid, is criticized for boosting near-term inflation, increasing interest rates, and weakening market confidence. With the national debt at $36.2 trillion, some lawmakers like Sen. Rand Paul and Elon Musk oppose the bill, urging the Senate to make it more fiscally responsible.
Trending- 1 Recent past: 'Big, beautiful bill' passed by the House of Representatives
- 2 Wednesday, June 4, 2025: CBO and CRFB release debt projections; Senate weighs the bill; Opposition voiced by Paul and Musk
- Projected increase of $3-5 trillion to the U.S. national debt
- Potential for increased near-term inflation and interest rates
- Weakened market confidence and slowed long-term economic growth
- Political debate and potential legislative challenges in the Senate
- Changes to tax policy, border security, defense, energy production, SNAP, and Medicaid
What: The U.S. Senate is weighing President Donald Trump's "big, beautiful bill," which has passed the House of Representatives. The bill is projected to significantly increase the national debt, leading to opposition from some lawmakers and policy groups.
When: As of Wednesday (June 4, 2025, based on publication date). The bill passed the House recently.
Where: U.S. Senate, Washington D.C., United States.
Why: The bill is designed to extend tax cuts, increase spending on military and border security, and make adjustments to social programs. Opposition stems from concerns about its fiscal impact (projected debt increase) and potential negative economic consequences (inflation, interest rates, market confidence).
How: The bill is currently awaiting action in the Senate after passing the House. Policy groups like CRFB are providing analyses and urging changes.