Trump Tax Law to Add $3.4 Trillion to US Deficits, CBO Says

President Donald Trump’s recently enacted tax and spending law will add $3.4 trillion to US deficits over a decade and leave millions without health care coverage, according to a new estimate from the nonpartisan Congressional Budget Office.

The CBO score for the law, released Monday, reflects a $4.5 trillion decrease in revenues and a $1.1 trillion decline in spending through 2034, relative to a current-law baseline. The new analysis doesn’t incorporate so-called dynamic effects, such as the impact on growth or interest rates over time that the legislation’s measures might have.