This article discusses what the CBO is and provides three key takeaways from their latest report estimating the economic impact of the Big Beautiful Bill.

House Republicans’ sweeping tax and spending cuts package would add $2.4 trillion to the deficit over the next decade, according to the Congressional Budget Office’s analysis of the bill that GOP lawmakers narrowly approved last month.

The Congressional Budget Office (CBO) said on Wednesday that Trump’s “One Big Beautiful Bill” would increase the US federal deficit by $2.4 trillion over ten years. The proposal, a centerpiece of his domestic agenda,