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.

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.

The House GOP budget bill would increase deficits and result in nearly 11 million individuals losing access to health insurance, CBO found.