White House expects $11 trillion reduction in US budget deficit through Trump's measures

According to White House chief economist Stephen Miran, President Donald Trump's policies will reduce the US budget deficit by up to $11 trillion over the next ten years.

As he claimed, about half of this amount will come from the accelerated economic growth supported by the Republicans' tax cut bill. In addition, Miran expects a $3 trillion increase in budget revenues through new import tariffs.

However, as noted by Bloomberg, such an assessment contradicts the forecasts of analysts who expect the US government debt to grow to record levels in the coming years. According to experts quoted by the agency, the new tax bill will increase the deficit by $2.8 trillion, not reduce it. 

A preliminary analysis by the Tax Foundation indicated that the probable cost of the new Senate bill would be $3.9 trillion over ten years after accounting for the economic impact.

Earlier this month, US Treasury Secretary Scott Bessent said there is “varied scoring” of the tax bill. However, in general, he projected that the nation's budget deficit would decline over the next 10 years.