The Congressional Budget Office (CBO) estimates that the One Big Beautiful Bill Act—the GOP-backed reconciliation package—would lead to a net increase in resources to households nationwide over the next decade, but at the cost of a $3.8 trillion increase in the federal deficit.
The CBO’s preliminary distributional analysis, published on May 20, estimates that American households will, on average, have more resources at their disposal under the One Big Beautiful Bill Act between 2026 and 2034.
However, CBO says these benefits will come at a price: the deficit will rise, and households in the bottom 10 percent of the income spectrum would experience net losses because the government-funded benefits they stand to lose exceed the value of the tax cuts they’ll get....
