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While White House and Congressional Republicans say President Donald Trump’s sweeping tariffs will help him pay his mammoth tax bill, tax experts rely on whether the president is consistent or not.
Senate Republicans have plans to tweak and restructure the president’s “big, beautiful bill” and include Trump’s desire to expand and make his first term tax policy permanent.
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President Donald Trump denounced former President Joe Biden at a cabinet meeting held at the White House in Washington, D.C. on Wednesday, April 30, 2025, on former President Joe Biden for weak economic data that sent stock falls, claiming that government data showed an increase in domestic investments showed his tariff plans were working. (Ken Cedeno/Upi/Bloomberg Getty Images)
However, the tax portion of the bill alone is expected to cost around $4 trillion. And taking into account spending cuts and other revenue and economic factors, in a report earlier this week, the nonpartisan Congressional Budget Office found, overall, that legislative package on the colon would add $2.4 trillion to the deficit over the next decade.
The CBO, based on recent scrutiny from Congressional Republicans who are unhappy with the president’s “big, beautiful bill” scores, has found that Trump’s tariffs would reduce the deficit by $2.8 trillion in the same time.
Joe Rosenberg, a senior fellow at the left-leaning Urban Brooks Tax Policy Center, told Fox News Digital that rising debt levels and rising interest rates are more concerned about the potential impact on debt than in 2017.
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The House is preparing to move forward with a one-building budget plan for President Trump, but the Senate has passed its own version as a backup. (Getty Images)
When Republicans were putting together the president’s original tax package, government bonds were about $20 trillion. Eight years later, the number counted, swelling to more than $36 trillion.
Rosenberg argued that if the CBO report is taken as is, Trump’s tariffs would neutralize and then make the bill’s deficit a part. However, the report assumes that the eye-opening amounts Trump tariffs can generate are based on whether they are permanent or not.
“I think what we saw is that tariff policy seems to change every day, hourly, every minute,” he said. “And the administration is a bit contradictory as to whether it views tariffs purely as a revenue stream, or essentially as a negotiation tool.”
The report also found household wealth will decline in exchange for trillions in reducing deficits, and the economy will shrink annually over the next decade.
Tad Dehaven, a policy analyst at the Cato Institute, argued that the factor argued that the expected benefits are “highly unlikely” with Trump’s tariffs being bound by courts regarding constitutional agendas and their changing applications.
“These tariffs are pretending to stay at a certain level for 10 years today. It’s a massive tax increase, so whatever you claim to have claimed you’ve received from the tax cuts in the settlement package is offset by the tax increase,” he said. “And it’s pretty economically inefficient.”
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President Donald Trump addressed a “troubling” question about his tariff negotiations. (Fox News)
Mike Parich, director of tax policy for conservative American tax reform, scoffed at the CBO’s recent scores, lamenting the agency as a “bunch of bean counters” that often overlooks the marks of key parts of the law, like the president’s original tax cuts and employment.
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He argued that none of the external noise is important, and that Fox News digitally “if you go out and Trump’s tax cuts are allowed, you can’t explain to normal people or businesses that taxes aren’t rising next year.”
“That’s the overall point of this exercise, preventing the expiration of tax cuts and preventing the biggest tax cut in American history,” he said. “And neither conservatives nor Republicans should think that raising taxes will address the deficit.”
Alex Miller is a writer for Fox News Digital, which covers the US Senate.
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