06.29.25

CBO Tells Merkley that Republicans’ “One Big, Beautiful Bill” is Out of Compliance with the Rules of Reconciliation

Republicans Are Attempting to Use a Budget Gimmick to Make these Tax Cuts for Billionaires Appear to Add Far Less to the Debt Than the Reality

WASHINGTON, D.C. – Today, the nonpartisan Congressional Budget Office (CBO) told U.S. Senator Jeff Merkley (D-OR), Ranking Member of the Senate Budget Committee, that the Republicans’ “One Big, Beautiful Bill” is out of compliance with the rules of reconciliation, both by exceeding the spending limits outlined in their budget resolution by trillions of dollars, and by adding to the deficit beyond the 10-year window. CBO estimates under a current law baseline, this bill will add more than $3.2 trillion to the national debt over 10 years.

CBO’s response to Sen. Merkley can be found HERE and an excerpt is below.

In response to your questions—about the cost of title VII, Finance, estimated against CBO’s January 2025 baseline—here are CBO’s answers:

Would title VII, Finance, increase the deficit by more than $1.5 trillion over the 2025–2034 period?

Yes. CBO estimates that enacting title VII would increase the deficit by nearly $3.5 trillion over the 2025–2034 period relative to the amount in the January 2025 baseline.

Would title VII, Finance, increase deficits in any year beyond 2034?

Yes, CBO estimates that title VII would also increase deficits in years after 2034.

###