The Congressional Budget Office says Trump’s tax-slash megabill will balloon the federal deficit by $2.4 trillion over 10 years—and leave nearly 11 million more Americans without health insurance, largely due to cuts in Medicaid and tighter eligibility rules.
Donald Trump’s so-called “One Big Beautiful Bill” may be beautiful to some, but the Congressional Budget Office (CBO) just dropped a brutal forecast: if passed, the sweeping legislation would add $2.4 trillion to the federal deficit over the next decade.
The bill proposes $3.67 trillion in tax cuts—mostly benefiting corporations and the wealthy—while attempting to offset it with $1.25 trillion in spending reductions. That still leaves a $2.4 trillion shortfall, and critics are already sharpening their knives.
The CBO didn’t just stop at the fiscal fallout. It also projected a staggering rise in uninsured Americans—an estimated 10.9 million more people without coverage by 2034. The key culprit? Massive Medicaid cuts, alongside new work requirements that would force low-income recipients off the rolls.
Among the hardest hit: over 1.4 million undocumented immigrants, many of whom are covered under state-funded plans that would lose federal support.
Billionaire Elon Musk didn’t hold back, calling the bill “a disgusting abomination” that undercuts clean energy and bloats the debt. Even some Republican senators are getting cold feet—objecting to slashed Medicaid funding and the scrapping of green energy tax breaks that once enjoyed bipartisan support.
The European Central Bank has reduced its three key interest rates by 25 basis points, aligning with expectations and reflecting progress toward its inflation target.
Centrica, owner of British Gas, has agreed to a £20 billion deal with Norway’s Equinor to supply nearly 10% of the UK’s gas needs annually for the next decade, supporting energy security while paving the way for future hydrogen integration.
Tesla’s shares declined by about 14.2% on Thursday, reducing the company’s market value by roughly $152 billion, as Elon Musk and Donald Trump publicly exchanged criticisms on social media.
China has successfully launched a new set of low Earth orbit satellites, continuing its ongoing space deployment efforts, according to state media.
The European Central Bank has reduced its three key interest rates by 25 basis points, aligning with expectations and reflecting progress toward its inflation target.
Centrica, owner of British Gas, has agreed to a £20 billion deal with Norway’s Equinor to supply nearly 10% of the UK’s gas needs annually for the next decade, supporting energy security while paving the way for future hydrogen integration.
Officials from Turkmenistan and the Republic of Türkiye held comprehensive consultations at the Ministry of Foreign Affairs of Turkmenistan today, reaffirming their commitment to deepening bilateral ties across political, diplomatic, economic, and cultural spheres.
Tesla’s shares declined by about 14.2% on Thursday, reducing the company’s market value by roughly $152 billion, as Elon Musk and Donald Trump publicly exchanged criticisms on social media.
China has successfully launched a new set of low Earth orbit satellites, continuing its ongoing space deployment efforts, according to state media.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
Federal authorities have arrested 14 suspects in Los Angeles linked to an Armenian organized crime ring accused of stealing $30 million in COVID relief and Small Business loans intended to support American taxpayers.
Four people were killed and several others injured as Kyiv came under a wave of missile and drone strikes overnight, in what follows reports of Ukrainian drone attacks on military facilities deep inside Russia.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 6th, covering the latest developments you need to know.
Uzbekistan and Jordan secured historic World Cup berths for the first time on Thursday, while South Korea confirmed their place and Australia edged closer in Asia's qualification campaign for the 2026 tournament in North America.
Japanese company ispace announced that its unmanned moon lander, called Resilience, likely crashed during its landing attempt on Friday. This is their second failed try, after their first mission also ended in a crash two years ago.
U.S. President Donald Trump and Germany’s new Chancellor, Friedrich Merz, had a surprisingly friendly and calm meeting at the White House. They talked about important issues like the war in Ukraine, trade, and NATO troops, but unlike some past meetings with world leaders, this one went smoothly.
The European Central Bank has reduced its three key interest rates by 25 basis points, aligning with expectations and reflecting progress toward its inflation target.
Centrica, owner of British Gas, has agreed to a £20 billion deal with Norway’s Equinor to supply nearly 10% of the UK’s gas needs annually for the next decade, supporting energy security while paving the way for future hydrogen integration.
Officials from Turkmenistan and the Republic of Türkiye held comprehensive consultations at the Ministry of Foreign Affairs of Turkmenistan today, reaffirming their commitment to deepening bilateral ties across political, diplomatic, economic, and cultural spheres.
Tesla’s shares declined by about 14.2% on Thursday, reducing the company’s market value by roughly $152 billion, as Elon Musk and Donald Trump publicly exchanged criticisms on social media.
China has successfully launched a new set of low Earth orbit satellites, continuing its ongoing space deployment efforts, according to state media.
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