White House challenges CBO report on ‘big, beautiful, bill’

The White House is pushing back against the Congressional Budget Office’s (CBO) assessment that President Donald Trump’s tax and spending package will significantly increase the federal deficit over the next decade. The CBO predicts that the bill passed by the House in May would raise the deficit by $2.4 trillion, but the White House’s Office of Management and Budget (OMB) argues that this analysis is flawed.

According to the OMB, the CBO’s analysis assumes that Republicans in Congress will not extend Trump’s 2017 tax cuts. The White House believes that the tax and spending measures, along with other initiatives like tariffs and spending cuts, will actually reduce deficits by $1.4 trillion. Additionally, the OMB forecasts that these measures will lead to a reduction in deficits by at least $6.6 trillion over the next 10 years.

OMB Director Russell Vought has criticized the CBO’s analysis, calling it “fundamentally wrong.” Vought believes that failure to pass Trump’s tax package would lead to a recession and a significant tax increase on the American people. The White House has also accused the CBO of having a partisan bias, claiming that staffers at the office have consistently supported Democratic candidates.

The bill now heads to the Senate, where lawmakers like Senator Rand Paul have expressed opposition to the legislation. Despite the pushback, the White House remains confident in the positive impact of the tax and spending package. It is clear that there is a significant divide between the White House and the CBO when it comes to the economic impact of this legislation.

It is important to note that the CBO director is appointed based on recommendations from the House and Senate Budget Committees. While the White House continues to challenge the CBO’s assessment, it is essential for lawmakers to carefully consider the potential consequences of this tax and spending package. The economic future of the country hangs in the balance as the bill moves through the legislative process.