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FIVE TRILLION IN FREE MONEY?

 THE STAGGERING COST OF

 HOUSE RECONCILIATION BILL

A sweeping reconciliation bill under development in the House is poised to escalate federal borrowing dramatically. Current projections indicate the measure could add approximately $3.3 trillion to the national debt by Fiscal Year 2034. As has often happened, if lawmakers later choose to extend the bill’s temporary tax and spending provisions, that total could balloon to over $5.2 trillion.

This mounting fiscal impact is primarily driven by measures under the jurisdiction of the House Ways and Means Committee, which alone could account for the vast majority of the deficit increase. The long-term budget outlook grows even more concerning if these short-term provisions are treated as permanent policy, as has been the trend with prior tax legislation.

The reconciliation process, intended to expedite budget-related legislation, gives the majority party significant leeway to enact substantial changes without bipartisan support. However, the scale of potential debt accumulation has sparked alarm among many, who warn that such borrowing levels could weaken the nation’s long-term economic stability and crowd out essential investments in the future.

Adding Up the House Reconciliation Bill (Committee for a Responsible Federal Budget, 5-14-25)

House panel advances tax portion of Trump agenda bill after marathon meeting (The Hill, 5-14-25)

House Ways and Means Committee advances its portion of FY 2025 reconciliation bill (American Hospital association, 5-14-25)

Key House committees pass tax and Medicaid portions of GOP's sweeping bill for Trump's agenda (NBC News, 5-13-25)