WASHINGTON >> President Donald Trump’s tax cuts package would increase deficits by $2.8 trillion over the next decade after including other economic effects, according to a fuller analysis of the House-passed measure released Tuesday by the Congressional Budget Office.

The report, produced by the nonpartisan CBO and the Joint Committee on Taxation, factors in expected debt service costs and finds that the bill would increase interest rates and boost interest payments on the baseline projection of federal debt by $441 billion.

The analysis comes at a crucial moment as Trump is pushing the GOP-led Congress to act on what he calls his “big, beautiful bill.” It passed the House last month on a party-line vote, and now faces revisions in the Senate. Vice President JD Vance urged Senate Republicans during a private lunch meeting Tuesday to send the final package to the president’s desk.

“We’re excited to get this bill out,” said Senate Majority Leader John Thune afterward.

It’s the economy

Tuesday’s report uses dynamic analysis by estimating the budgetary impact of the tax bill by considering how changes in the economy might affect revenues and spending. This is in contrast to static scoring, which presumes all other economic factors stay constant.

The CBO released its static scoring analysis earlier this month, estimating that Trump’s bill would unleash trillions in tax cuts and slash spending, but also increase deficits by $2.4 trillion over the decade and leave some 10.9 million more people without health insurance.

Republicans have repeatedly argued that a more dynamic scoring model would more accurately show how cutting taxes would spur economic growth — essentially overcoming any lost revenue to the federal government.

But the larger deficit numbers in the new analysis gave Democrats, who are unified against the big bill, fresh arguments for challenging the GOP position that the tax cuts would essentially pay for themselves.

“The Republican claim that this bill does not add to the debt or deficit is laughable, and the proof is in the numbers,” said Sen. Jeff Merkley of Oregon, the top Democrat on the Senate Budget Committee.

“The cost of these tax giveaways for billionaires, even when considering economic growth, will add even more to the debt than we previously expected,” he said.

Marc Goldwein, senior vice president and senior policy director for the Committee for a Responsible Federal Budget, said Tuesday on social media that considering the new dynamic analysis, “It’s not only not paying for all of itself, it’s not paying for any of itself.”

Administration’s argument

Treasury Secretary Scott Bessent and other Republicans have sought to discredit the CBO, saying the organization isn’t giving enough credit to the economic growth the bill will create.

At the Capitol, Mehmet Oz, who heads up the Centers for Medicaid and Medicare Services and joined Vance at the GOP Senate lunch, challenged CBO’s findings when asked about its estimate that the bill would leave 10.9 million more people without health care, largely from new work requirements.

“What will an American do if they’re given the option of trying to get a job or an education or volunteering their community — having some engagement — or losing their Medicaid insurance coverage?” Oz asked. “I have more confidence in the American people than has been given to them by some of these analyzing organizations.”