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Trump's Tax Bill Sparks $4 Trillion Deficit Fears

5/23/2025

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Summary

Story summary

Investor unease deepened as President Trump's tax bill, expected to inflate the deficit by nearly $4 trillion, moved forward in Congress. Bond yields soared, signaling worries about escalating borrowing costs and a looming economic slowdown. Adding to the turmoil, Moody's downgraded U.S. debt, heightening concerns over the nation's financial stability.

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Story summary

Investor unease deepened as President Trump's tax bill, expected to inflate the deficit by nearly $4 trillion, moved forward in Congress. Bond yields soared, signaling worries about escalating borrowing costs and a looming economic slowdown. Adding to the turmoil, Moody's downgraded U.S. debt, heightening concerns over the nation's financial stability.