Core Points - The Congressional Budget Office (CBO) estimates that the recent tax and spending bill signed into law by President Trump will increase the U.S. deficit by $3.4 trillion over the next ten years [1] - The CBO's analysis indicates that the bill includes cuts to Medicaid and provisions that will result in 10 million Americans losing health insurance by 2034 [1] - According to the CBO's scoring, compared to current law, U.S. revenues will decrease by $4.5 trillion and spending will decrease by $1.1 billion by 2034 [1]

Core Viewpoint - Republican senators are considering setting a $30,000 cap on the State and Local Tax (SALT) deduction as a compromise between the current law and the more generous limit proposed in the House version of the Trump tax law [1] Group 1 - A key Republican negotiator, Senator Thom Tillis, indicated that the aim is to reduce the House-approved $40,000 SALT cap to at least $30,000 [1]