By Brendan Scanland
WASHINGTON, D.C. – A brand-new report from the Congressional Budget Office is stirring up fresh debate on Capitol Hill over President Trump’s “One, Big, Beautiful Bill Act,” which recently became law.
The CBO report is giving Democrats some ammunition on Capitol Hill this week—but Republicans say CBO scores, reports and analyses aren’t always entirely accurate. The nonpartisan agency within Congress says President Trump’s signature law will pump $3.4 trillion into federal deficits over the next decade.
“The CBO was wildly wrong on their projections of the revenue created by the Tax Cut and Jobs Act, which we have now extended and made permanent. They were a trillion-and-a-half off on those estimates out of 2017,” said Rep. Nick Langworthy (R-NY.).
Some Republicans don’t buy the estimate, arguing it fails to account for economic growth- they say- will be fueled by the new law.
“One hundred percent,” Langworthy replied when asked if he believed the CBO is underestimating the economic growth this time around. “We’re going to take off like a rocket.”
Langworthy says tax certainty, business certainty and a more stable job market—as a result of the law—will drive economic investment and activity.
“We had a lot of people parking their investment income on the sidelines, and these are big employers in our region that weren’t sure where they were going for the year ahead because they didn’t know what their obligations and their balance sheets would look like,” said Langworthy. “Now they know—for at least a decade out—what is it going to look like and what can they invest in, and how much growth potential that could have for the U.S. economy.”
“We’re going to put people back into the workforce that have refused to participate. All of these things are going to grow the economy, create more revenue,” he added.
But Democrats and critics say it’s more like a golden parachute—just not for everyday Americans.
“The American people clearly recognize that the Trump administration is in freefall and are actively hurting everyday Americans in order to reward their billionaire donors with massive tax breaks,” said House Minority Leader Hakeem Jeffries (D-NY.).
Additionally, the CBO estimates more than 10 million people will lose health insurance by 2034 under the law. That’s about two million fewer people than an earlier estimate, due to revisions to the bill made by the Senate—but Democrats say it’s still a tough pill to swallow for millions of Americans.
“Republicans’ signature bill is the ultimate, the ultimate betrayal of the American people,” said Senate Minority Leader Chuck Schumer (D-N.Y.).
Separately, the CBO has projected an additional 5 million people could be uninsured in 2034 due to the expiration of Affordable Care Act premium subsidies and changes to enrollment eligibility.
The law’s passage was a political marathon—and now, both parties are racing to frame the narrative as the 2026 midterms inch closer.
