Maya MacGuineas: Trump’s Bill is Big, But Definitely Not Beautiful
Maya MacGuineas is president of the Committee for a Responsible Federal Budget. She recently wrote an opinion piece for U.S. News and World Report, an excerpt of which is below.
America’s financial future is at a precarious inflection point. Putting our fiscal situation on a sustainable path will require tough trade-offs, including spending cuts and revenue increases. Ignoring our national debt is reckless and ruinous.
Unfortunately, our elected officials seem ready to risk our economic future with a disastrous course of action.
The House of Representatives last month approved what President Donald Trump dubbed his One Big Beautiful Bill Act. Included in the House version are permanent extensions of the 2017 tax cuts, new tax cuts and new spending on defense, immigration and border security, which together would add an eye-popping $2.4 trillion in increased deficits over the next decade, according to the official, nonpartisan Congressional Budget Office. With increased interest payments on our debt, the bill’s price tag rises to a dizzying $3 trillion, according to CBO estimates.
Read the entire piece here.
Published works by members or staff of the Committee for a Responsible Federal Budget do not necessarily reflect the views of all members or staff of the Committee.
