House Passes Trump Tax Bill Adding Trillions to Deficit

The U.S. House of Representatives narrowly passed President Donald Trump's expansive tax package, dubbed the "One Big Beautiful Bill Act," which extends his 2017 tax cuts and adds numerous tax and spending provisions. The bill, passed strictly along party lines, includes increased deductions for pass-through businesses and state and local taxes, with an estimated total tax cut of around $4 trillion. However, the Congressional Budget Office projects that the legislation will increase the federal deficit by $3.8 trillion over the next decade and result in millions losing health care coverage and food assistance. Critics, including members of Congress from Massachusetts, condemned the bill for cutting Medicaid, food aid, and healthcare, disproportionately benefiting the wealthy, with more than two-thirds of the tax cuts favoring high earners. Notably, the bill proposes raising the child tax credit temporarily but includes new Social Security number requirements that could exclude millions of children. Meanwhile, a provision raising the SALT deduction cap to $40,000 for certain taxpayers is expected to provide significant tax relief for some Massachusetts residents, particularly homeowners in wealthier areas.