Core Viewpoint - The combination of the new tax legislation and the extension of previous tax cuts is likely to keep the government's total deficit above 7% of GDP and increase the debt-to-GDP ratio to 135% by 2029 [1] Group 1 - The new tax legislation and previous tax cuts are expected to significantly impact government finances [1] - The projected government deficit is anticipated to remain above 7% of GDP [1] - The debt-to-GDP ratio is forecasted to rise to 135% by the year 2029 [1]