Trump tax bill will reduce $ 3.7 million of taxes, add $ 2.4T to national debt, says the Oman Central Bank

president Donald Trump The Congress Budget Office (CBO) says: “A large and beautiful bill,” will reduce taxes by $ 3.7 trillion with the addition of $ 2.4 trillion to national debt.

The Central Bank of Oman issued its report on the Trump bill on Wednesday. The report also estimates that it will create an additional 10.9 million people without health insurance under the draft law, including 1.4 million people in the country without legal status in the state -funded programs.

The Omani Central Bank analysis of the version that was passed to the house appears from the draft law a The effect of a greater deficit From the version that the Republicans initially brought to the ground, which was estimated to raise the deficit by $ 2.3 trillion over a decade.

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One of the prominent changes in the tax reduction package was the maximum Government and local tax deduction (salt)The Republican Party has increased to help secure the passage of the bill in the divided house in a narrow manner. Through the review, the federal government is expected to achieve about $ 128 billion over 10 years of the original bill, which contributes to a budget deficit on a larger scale.

Reforms to Medicaid and others Healthcare programs An additional $ 97 billion spending over a decade is estimated at the bill passed at home compared to the initial proposal of the room, up to approximately $ 1.1 trillion.

The Trump administration and the Republicans in the Congress criticized the analysis of the Central Bank of Oman, on the pretext that the budget control reduced the growth in the federal tax receipts that motivated it greater. Economic activity As a result of the tax cuts law and the jobs issued in 2017.

He crossed the house A single beautiful invoice work On May 22, a tight vote 215-214, which went largely along the party lines. Only two members of the Republican Party voted against the bill, citing concerns about spending and deficit.

This is sent by the draft law to the Senate, which is considering revising the bill before the possible vote in the coming weeks.

Republicans maintain a narrow majority 53-47 in the upper room, which may be challenges to approval of the bill. numerous Republican lawmakersIncluding Sens. Rand Paul, R-Ky. , And Ron Johnson, R-Wis. They expressed their opposition to the draft law because of their concerns about its impact on national debt.

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If the copy that was passed in the House of Representatives is revised from the draft law by the Senate, the draft law will have to return to the House of Representatives to vote for the other before it can go to the president’s office and become a law.