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'Big, Beautiful Bill' Vote: House Dems 'Just Signed Their Own Political Death Warrant'
Today 9:56 am
Listen to Illegal Alien loving POS Traitor and serial liar jerrab lecture me about patriotism.....jerrab » 21 minutes ago » wrote: ↑ don't even pretend you are patriotic.
you want the country to go bankrupt.
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Increased National Debt The Congressional Budget Office estimates that the bill would add $3.8 trillion to the national debt, exacerbating the existing $36 trillion debt burden [2]. This could lead to higher interest rates, making borrowing more expensive for individuals, businesses, and the government. Higher Interest Rates and Borrowing Costs As investors become increasingly wary of the US debt, they may demand higher interest rates to compensate for the risk. This could result in higher borrowing costs for mortgages, car loans, and credit card debt, affecting consumers and businesses alike [3]. "The reason everyday Americans should care about fiscal sustainability is this is a long-running cost of living issue," said Ernie Tedeschi, director of economics at the Budget Lab at Yale [4].
"The legislation would make permanent the individual income and estate tax cuts passed during Trump's first term and add fresh exemptions for tipped income, overtime pay, and interest on certain auto loans—moves designed to appeal to working-class voters.To help offset the anticipated revenue shortfall, estimated at roughly $3.8 trillion, the bill would repeal or fast-track the expiration of clean energy tax credits enacted under President Joe Biden. That rollback would substantially reduce the net cost of the package."
