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Fiscal Experts: Republican Tax Bill Conceals More Than $1 Trillion in Future Debt

Published: 16-05-2025, 05:45 pm | Updated: 16-05-2025, 09:34 am

The GOP tax bill carries an official price tag of $3.8 trillion over ten years, but independent analysts warn this hides its true fiscal impact. The bill strategically makes Trump’s 2017 tax cuts permanent while setting popular new measures—like tax-free tips and overtime—to expire after just four years.

Budget experts at the Committee for a Responsible Federal Budget estimate the real deficit impact would reach $5.2 trillion if all provisions were extended for the full decade (or $3.3 trillion after proposed spending cuts). Critics call this a deliberate tactic to conceal over $1 trillion in potential costs.

This comes as U.S. government debt is projected to exceed 118% of GDP by 2035. Republicans defend the bill, claiming economic growth, tariff revenue, and efficiency measures will offset costs. Speaker Mike Johnson seeks House approval later this month.

Original Source: Bloomberg

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