‘Fantasy math’ masks tax bill’s U.S. debt impact, GOP lawmaker said. What the deficit means for your money

Published Mon, Jun 2 20252:33 PM EDT

By: Greg Iacurci

The massive package of tax cuts House Republicans passed in May is expected to increase the U.S. debt by trillions of dollars — a sum that threatens to torpedo the legislation as the Senate starts to consider it this week.

The Committee for a Responsible Federal Budget estimates the bill, as written, would add about $3.1 trillion to the national debt over a decade with interest, to a total $53 trillion. The Penn Wharton Budget Model estimates a higher tally: $3.8 trillion, including interest and economic effects. LEARN MORE…

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