The Latest Breaking News from the Congressional Budget Office

The Social Security Administration (SSA) has come under scrutiny for distributing an email that inaccurately describes the impact of President Donald Trump’s new tax legislation on Social Security benefits.

On Friday, President Donald Trump signed a sweeping tax and spending bill into law during a July 4 picnic at the White House, touting it as a historic win, even as the Congressional Budget Office projects it will significantly widen the federal deficit and leave millions uninsured.

Gavin gets it, you get screwed.

The bill is set to massively widen the US’ budget deficit and leave an added 12 million Americans without health insurance.

The Congressional Budget Office estimates that 7.8 million Americans across the U.S. would lose their coverage through Medicaid – the public program that provides health insurance to low-income families and individuals – under the One Big Beautiful Bill Act making its way through Congress.

Over a decade, the bill would add at least $3.3 trillion to the national debt, according to the Congressional Budget Office

President Donald Trump has promised not to cut Medicaid many times over the past decade, including in the tax-and-spending legislative package he has made a top priority in his second administration.

Reagan's budget chief warns that the One Big Beautiful Bill Act could balloon the national debt to $60 trillion, risking a catastrophic bond market crisis.

Many low-income families would see cuts in health care and food benefits. The state hopes for a big reimbursement for border security spending.

Republican lawmakers have been battling over a bill that includes massive tax and spending cuts. Much of their disagreement has been over provisions intended to reduce the cost of Medicaid.

ANALYSIS: Analysis: The leadership doesn’t like the debt-exploding numbers of Donald Trump’s proposal exposed by the Congressional Budget Office, Eric Garcia writes