President Donald Trump’s tax and budget bill would increase deficits by $2.8 trillion over the next decade after factoring in other economic effects.

The ‘big, beautiful’ tax bill would cost low-income Americans an estimated $1,600 a year on average, while high-income people would gain $12,000, the CBO says.

U.S. Senate Republicans' proposed changes to President Donald Trump's sweeping tax-cut and spending bill are expected to push U.S. debt levels higher, roughly in line with projections from the House-passed version,