US Congressional Budget Office: Senate Version of the "Big and Beautiful" Bill Will Add $3.3 Trillion to the National Debt

According to a report by Jinse Finance, citing CCTV News, on June 29 local time, the U.S. Congressional Budget Office stated that the Senate version of the "Big and Beautiful" large-scale tax and spending bill will increase U.S. debt by $3.3 trillion over the next decade. With strong support from Trump, the "Big and Beautiful" bill narrowly passed the House of Representatives by a single vote on May 22, and on June 28, it barely cleared a procedural vote in the Senate, facing obstacles at every turn. Moreover, in order to secure passage in the Senate, lawmakers made further amendments to the bill, and the revised sections will have to return to the House for another vote after the Senate vote.