Welcome to the NewsHour. We begin tonight with a new estimate of how much President Trump's

spending and tax cut bill would cost and its potential impact on health care coverage. The

independent, nonpartisan Congressional Budget Office, or CBO, projects that the bill would add

$2.4 trillion overall to the deficit over the next decade. And it estimates that changes to

Medicaid and other health coverage would leave nearly 11 million Americans uninsured by 2034.

The one big, beautiful bill, as it's called, would reduce federal government spending by nearly

$1.3 trillion. And the CBO found that by extending President Trump's 2017 tax cuts,

the bill would cut taxes by $3.75 trillion over the next decade.

The measure awaits action in the Senate after it passed the House last month without Democratic support.

Today, House Republicans shrugged off the CBO score.

Go back to 2017. You don't need to go back that far to see how wrong the CBO has been

when it comes time to make prognostications on economic growth. They've always been wrong

and they've always ignored what tax cuts will do to grow the American economy.

Senate Democratic leadership, meanwhile, said there would be real-world consequences to people's health care.

People will fall through the cracks and get phased out of coverage in the coming years.

Death by a thousand paper cuts. The CBO also released a separate analysis

today about the impact of President Trump's tariffs. It projects current tariff policies would

reduce the federal deficit by $2.8 trillion over the next decade, while also raising inflation

and shrinking the size of the economy.

That deficit savings is a bit more than the big spending and tax cut bill would cost.

It comes as President Trump issued new tariffs on steel and aluminum overnight, doubling them from 25 to 50%.

For more, we're joined by Babak Hefezi. He's an adjunct professor at American

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