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The GOP’s massive bill would add trillions of dollars to the country’s debt

todayJuly 2, 2025

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A variety of forecasters say the tax cut and spending bill passed by the Senate this week would add trillions of dollars to the federal debt over the next decade. The bill extends many of the 2017 tax cuts while reducing spending on Medicaid and food stamps.

The GOP tax cut and spending bill passed by the Senate this week is expected to add trillions of dollars to the federal debt over the next decade. The savings would mostly go to top earners.

(Image credit: Derek White)

Written by: Prometheus

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