The Congressional Budget Office (CBO) has released an analysis that, despite significant long-term warnings, has been interpreted by the White House as an unequivocal endorsement of President Trump's economic strategy.

The highest-earning U.S. households would see the biggest gains under the GOP budget package thanks to tax cuts, CBO analysis finds.

House Republicans’ sweeping tax and spending cuts package would add $2.4 trillion to the deficit over the next decade, according to the Congressional Budget Office’s analysis of the bill that GOP lawmakers narrowly approved last month.

House-passed bill slashes income of poorest Americans by $1,600 & boosts wealthy by $12,000, middle-income families gain modestly, but low-income families lose due to Medicaid cuts & work requirements reveal new CBO analysis.

The “One Big Beautiful Bill Act” will cost the lowest-income households in the country roughly $1,600 per year, according to an analysis by the Congressional Budget Office (CBO) released on Thursday.

White House says the CBO’s analysis is wrong because it assumes that Republicans in Congress will fail to extend Trump’s 2017 tax cuts.