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Trump Tax Law to Add $3.4T to Deficits: CBO
News July 21, 2025 at 03:13 PM
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What You Need To Know
- The figure reflects a $4.5 trillion drop in revenues and a $1.1 trillion decline in spending through 2034.
- Encompassing much of Trump’s economic agenda, it permanently extends his 2017 income-tax cuts.
- New work requirements for recipients of Medicaid under the age of 65, are set to begin by the end of 2026.
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