New Tax Bill Could Push Deficit to $1 Trillion

The Congressional Budget Office says a combination of President Trump's tax cuts and last month's federal spending bill could send the deficit over $1 trillion by next year. 

The report projects an $804 billion deficit this year and nearly $1 trillion next year.  

Economic growth from the tax cuts and low unemployment are factored in to add 0.7 percent to the economy, but that only partially offsets the cost of the tax cuts. 


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