CBO: Republican megabill to cost $4.1T, due to higher borrowing costs

Interest rates will be higher over the next decade because of the GOP’s megabill and drive up borrowing costs even for the federal government, Congress’ nonpartisan scorekeeper predicts in a new report released Monday.

In a final “dynamic” analysis of the massive domestic policy package President Donald Trump signed into law on July 4, the Congressional Budget Office estimated the measure will increase the federal deficit by $4.1 trillion over a decade. Because the bill’s red ink is not offset by more spending cuts or new revenue, CBO found, the legislation will drive up interest rates.

That increase could affect investors and regular people…

Read the full article at POLITICO.COM