House Speaker Mike Johnson on Sunday hailed the passage of the "big, beautiful bill" as the "largest cut in spending in at least 30 years, and arguably of all time," while dismissing concerns that the package will raise federal deficits.
A recent analysis from the nonpartisan Congressional Budget Office said that the tax provisions in the sweeping package could increase the deficit by $3.8 trillion over the next decade.
Republican senators, including fiscal hawks like Sen. Ron Johnson of Wisconsin, have balked at the House bill over concerns about soaring deficits and signaled plans to change it.
But Speaker Johnson rejected the CBO analysis and others forecasting sharply higher deficits, calling them "dramatically overstated."
He said the bill "will really get the economy going, because wages will rise, job creators, entrepreneurs, risk takers, will have more ability to expand their businesses, U.S. manufacturing onshore is being incentivized."