1 week ago
4
The estimated gross interaction of the GOP taxation program would beryllium astir $4 trillion successful the antagonistic implicit a decade, the Joint Committee connected Taxation — a nonpartisan committee of the U.S. Congress — has indicated.
A document issued by the committee puts the nett full estimated gross effects astatine -$3.939368 trillion for fiscal years 2025-2034.
"The occupation with each of these studies is they willfully disregard existent taxation policy. You can’t bash that and beryllium taken seriously," an Office of Management and Budget spokesperson indicated.
Fox News Digital reached retired to the Joint Committee connected Taxation for comment, but nary remark had been provided by the clip of publication.
Speaker of the House Mike Johnson, R-La., right, accompanied by President Donald Trump, speaks to members of the media arsenic they depart a House Republican gathering astatine the U.S. Capitol connected May 20, 2025 successful Washington, D.C. (Andrew Harnik/Getty Images)
The GOP-controlled House of Representatives passed the One Big Beautiful Bill Act past week, adjacent with the U.S. national debt astatine much than $36 trillion.
The measurement cleared the enclosure with zero Democrat votes, and 2 House Republicans — Reps. Thomas Massie of Kentucky and Warren Davidson of Ohio — voting against it.
House Freedom Caucus Chair Rep. Andy Harris, R-Md., voted present, explaining successful a statement, "I voted to determination the measure on successful the process for the President. There is inactive a batch of enactment to beryllium done successful shortage simplification and ending waste, fraud, and maltreatment successful the Medicaid program."
SPEAKER JOHNSON CLASHES WITH RAND PAUL OVER ‘WIMPY’ SPENDING CUTS IN TRUMP'S BILL
Some Senate Republicans person indicated that they would not beryllium consenting to enactment the measurement arsenic it stands coming retired of the House.
Elon Musk is not blessed with it either. The business tycoon said during an interrogation for "CBS Sunday Morning" that helium was "disappointed to spot the monolithic spending bill," and that the measurement undermines the Department of Government Efficiency team's work.
"I'm not blessed astir definite aspects of it, but I'm thrilled by different aspects of it," President Donald Trump said of the measurement erstwhile asked astir Musk's comments.
Last week, Trump hailed the House's transition of the proposal, calling for the Senate to walk it arsenic well.
"Great occupation by Speaker Mike Johnson, and the House Leadership, and convey you to each Republican who voted YES connected this Historic Bill! Now, it’s clip for our friends successful the United States Senate to get to work, and nonstop this Bill to my table AS SOON AS POSSIBLE!" the president declared successful portion of a Truth Social post past week.
MUSK OFFICIALLY STEPS DOWN FROM DOGE AFTER WRAPPING WORK STREAMLINING GOVERNMENT
CLICK HERE TO GET THE FOX NEWS APP
White House Deputy Chief of Staff for Policy and Homeland Security Advisor Stephen Miller asserted successful a station connected X, "I spot immoderate self-described libertarians siding with lefty bureaucrats astatine CBO who assertion the Big Beautiful Bill volition ‘explode the debt.’ This is based wholly connected CBO claiming that extending the existent taxation rates (not raising them) volition 'cost' the authorities $4 trillion successful revenue.
"Since erstwhile person libertarians argued that NOT raising taxes ‘costs’ the authorities money? Private wealth yet to beryllium earned does not "belong" to the government. This is simply a Democrat-collectivist statement and I’m shocked to spot libertarians deploying it. Under this ludicrous theory, 1 could rise taxes to 90% connected everyone and state the shortage solved. BBB cuts taxes, cuts spending, reforms payment and *ends wide migration*," helium declared.
Alex Nitzberg is simply a writer for Fox News Digital.
English (US) ·