Trump’s megabill forecasts major economic gains and a reduced national debt, according to a new White House report. The Council of Economic Advisers released its updated analysis on Wednesday, highlighting the expected benefits of the proposed legislation and economic strategy.
Downgrading earlier concerns, the report suggests the bill would fuel job growth, lift wages, and expand the economy. It includes not only tax policies but also energy plans, deregulation, discretionary spending cuts, and tariff revenue. Interest savings from lower debt levels also factor into the projections.
According to the report, the economy could grow 4.6% to 4.9% within four years of enactment. Corporate investment may rise 7.3% to 10.2%, adjusting for inflation. Growth could average over 1% faster each year. These projections contrast sharply with the Congressional Budget Office’s more cautious forecast.
Additionally, the report states that a typical family with two children could see take-home pay increase by $7,600 to $10,900. The rise in wages would support this boost. Roughly 7 million jobs could be created or saved, further strengthening the labor market outlook.
Trump’s megabill forecasts major economic gains by extending the 2017 tax cuts. It includes permanent business tax reductions and individual income tax breaks. Temporary relief would also help tipped workers, seniors, and overtime earners. Support for new factory construction is also part of the plan.
The report also estimates that the deficit could shrink by $8.5 trillion to $11.1 trillion in ten years. As a result, national debt could fall to 94% of GDP by 2034. This projection counters the CBO’s warning that debt would rise to 117% if current tax cuts expire.
While critics warn of larger deficits, the council insists the plan will restore fiscal health. They emphasize growth through innovation, trade deals, and private investment. Trump’s megabill forecasts major economic gains, aiming to deliver low inflation, strong job creation, and long-term debt reduction.
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