The Congressional Budget Office estimated that if the House bill were to pass as written, the deficit would increase by almost $3 trillion.

The House-passed version of Republicans’ tax and spending bill would add $2.8 trillion to US deficits over the next decade, according to new estimates from the Congressional Budget Office that incorporate the broader impact the legislation would have on the economy and federal budget.

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President Donald Trump had previously set a July 4 deadline for Congress to pass his sweeping tax and spending package, known as the "One Big Beautiful Bill Act," and deliver it to his desk for signing.