Washington: "President Trump's bold economic agenda, anchored by the historic pro-growth policies in the One Big Beautiful Bill, will unleash robust, real economic growth and restore fiscal sanity in America," the White House quoted a statement by the Council of Economic Advisers (CEA) as saying on Tuesday.
According to Kuwait News Agency, analysis by the Council of Economic Advisers (CEA) confirms that President Trump's pro-growth economic policies and reining in wasteful spending are key to improving the fiscal outlook. "President Trump's proven economic formula, historic tax relief, rapid deregulation, balanced trade, and reining in wasteful spending, will slash our debt down to just 94 percent of Gross Domestic Product (GDP)," the CEA emphasized.
The CEA warned that rejecting the One Big Beautiful Bill would result in the largest tax increase in US history, amounting to USD 4 trillion, pushing the national debt to 117 percent of GDP by 2034. The bill aims to reduce taxes, adjust spending for various federal programs, increase the statutory debt limit, and address agencies and programs throughout the federal government.
Additionally, the bill allocates funds to US Customs and Border Protection (CBP) for infrastructure improvements at US borders, including barriers, access roads, detection technology, and facilities. It also provides funding for immigration agencies to enhance enforcement, removal operations, facility maintenance, and program management.