Senate's "big, beautiful bill" would add $3.3 trillion in new debt: CBO

The Senate reconciliation package being debated this weekend would add nearly $3.3 trillion in budget deficits over the next 10 years, according to a new estimate by the Congressional Budget Office (CBO). Why it matters: The Senate's version would add far more debt than the $2.8 trillion in estimated deficits in the version the House passed in late May. Republicans have pushed back against the CBO's math, and White House economists say the bill would reduce deficits, although that's an outlier forecast compared to CBO and other models. Between the lines: The changes to Medicaid and the Affordable Care Act in the Senate's version of the bill would also result in nearly 12 million more uninsured people by 2034, CBO estimates. The House-passed version would lead to 10.8 million more people without insurance, per CBO.

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