Articles

# The One Big Beautiful Bill Slashes Deficits, National Debt While Unleashing Economic Growth

The White House
June 30, 2025

President Trump’s bold economic agenda, anchored by the historic pro-growth policies in the One Big Beautiful Bill, will unleash robust, real economic growth and restore fiscal sanity in America.

Analysis by the Council of Economic Advisers (CEA) confirms that President Trump’s pro-growth economic policies and reining in wasteful spending are key to improving the fiscal outlook. President Trump’s proven economic formula — historic tax relief, rapid deregulation, balanced trade, and reining in wasteful spending — will slash our debt down to just 94% of Gross Domestic Product (GDP).

Let’s be clear: A vote against the One Big Beautiful Bill is a vote for the largest tax INCREASE — $4 trillion — our nation has ever faced, which would make our national debt explode to 117% of GDP by 2034.

Key findings from the CEA:

- Debt-to-GDP falls to 94% by 2034 under the Trump plan — compared to 117% under Biden’s failed path.
- Total deficit in 2034 is cut nearly in half — 3.2% of GDP under Trump vs. 6.2% under current law—saving the country $1.1 trillion in that year alone.
- Primary deficits flip to surpluses by 2034 under President Trump’s economic agenda with the OBBB.
- An accurate budget score for the OBBB, inclusive of economic growth unleashed by President Trump’s policies, is deficit reduction of $755 billion relative to the CBO’s tax hike baseline and deficit reduction of $4.5 trillion relative to the current policy baseline.

President Trump’s plan doesn’t just grow the economy, it actually reduces the debt burden on future generations — something the D.C. establishment hasn’t done in decades.

While Joe Biden supersized the national debt, President Trump is supersizing hardworking Americans’ pay checks and restoring fiscal sanity, helping solve our debt crisis for the long run. To accomplish the President’s historic economic agenda, we cannot let the Trump tax cuts expire and we must build on their success with the One Big Beautiful Bill.

Read the full CEA Analysis HERE.

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