White House steps up Big Beautiful Bill push, predicts deficit cut of more than $2T

The Trump White House claimed Wednesday that the Senate version of the One Big Beautiful Bill Act will reduce the federal deficit by between $2.1 trillion and $2.3 trillion over the next decade — thanks to tax cut-driven economic growth.Members of the White House Council of Economic Advisers (CEA) produced the new analysis by leaning on a draft text released last week by the Senate Finance Committee, which remains in flux due to ongoing negotiations.“Making the successful Trump tax cuts permanent will provide certainty for American job creators to spur domestic economic activity and invest in workers,” Senate Finance Committee Chairman Mike Crapo (R-Idaho) said in a statement in response to the new analysis.“With incentives for businesses to research, build, and innovate in America, these tax provisions will grow our economy the right way.”The CEA also estimated an even larger deficit reduction when accounting for other Trump policies — predicting that tariffs and other spending cuts would boost federal coffers by $3.3 trillion, while regulatory rollbacks and energy reform would shave up to $3.7 trillion off the deficit.However, Trump’s tariffs are not part of the One Big Beautiful Bill Act and is subject to litigation as well as negotiations.Additionally, the CEA appears to have factored in discretionary spending cuts that are not included in the megabill but that the White House is pursuing via the regular appropriations process this coming fall.The CEA analysis is far more optimistic than most conventional analysis — known as “scoring” — of the package.Earlier this month, the Congressional Budget Office concluded the House version of the One Big Beautiful Bill Act would add $3 trillion to the deficit over the next decade.Even when accounting for economic growth, the CBO found that the deficit would increase by about $3.4 trillion over the next 10 years due to soaring costs of interest on the US national debt.GOP leadership has long brushed a...