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CBO: GOP “One Big Beautiful Bill” Adds $3.4T Deficit

By Drooid · Sep 11, 2026, 3:06 PM UTC · How we work

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Trump Unveils Bill

U.S. President Donald Trump opened the first Republican Midterm Convention in Dallas on September 9, 2026.
Republicans at convention unveiled the “One Big Beautiful Bill,” a mix of tax cuts, social-service reductions and stricter immigration enforcement.
About 40 million families will claim the expanded child tax credit under the bill.
CBO projects the bill will reduce SNAP enrollment by roughly 4 million people.
The legislation will increase the federal deficit by $3.4 trillion over ten years, CBO estimates.

Right

Trump Opens Convention

U.S. President Donald Trump opened the first Republican Midterm Convention in Dallas on September 9, 2026.
Tariff revenue of about $21 trillion was highlighted, with Treasury data showing $154.4 billion collected this year, covering only 13 % of the dividend cost.
The dividend promises $5,000 cash to every adult American if Republicans control both chambers.
Republicans hold a 218-seat House majority; the dividend could raise the 2027 deficit by $1.2 trillion.

History

Historical Context

The 1994 Republican Revolution, driven by Newt Gingrich’s Contract with America, delivered a 54-seat House swing and the first GOP majority since 1952. That agenda of tax cuts, welfare reform and a balanced-budget pledge reshaped federal policy. The 2026 Republican Midterm Convention in Dallas revives the same themes, now proposing a $3.4 trillion deficit-raising bill and a $5,000 adult dividend.

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Trump Unveils Bill

U.S. President Donald Trump opened the first Republican Midterm Convention in Dallas on September 9, 2026.
Republicans at convention unveiled the “One Big Beautiful Bill,” a mix of tax cuts, social-service reductions and stricter immigration enforcement.
About 40 million families will claim the expanded child tax credit under the bill.
CBO projects the bill will reduce SNAP enrollment by roughly 4 million people.
The legislation will increase the federal deficit by $3.4 trillion over ten years, CBO estimates.

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