Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.

After the United States lost its last perfect credit rating on Friday, Republicans and Democrats responded by pointing fingers at each other.

As written, the reconciliation bill being considered in the House of Representatives is set to increase the debt by $3.3 trilli

The cost of Republican lawmakers’ draft plan for sweeping tax cutsweighed in at $3.8 trillion over the next 10 years in one official estimate, a lowball projection that independent analysts say masks the true fiscal hit.

The U.S. faces a debt dangerous crisis with Congress's overspending pushing the nation towards a fiscal cliff. Trump has to figure a way to fix things before it's too late.

The House of Representatives may vote on the reconciliation package, or the “One, Big, Beautiful Bill Act” (OBBBA), this week.

Republicans advanced their massive tax cut and border security package out of a key House committee during a rare Sunday night vote as deficit hawks who blocked the measure two days earlier reversed course after gaining commitments on the package's spending cuts.

Republicans have pointed to tariffs as a key source of revenue to help offset the deficit impact from the tax bill, and data out Monday showed customs duties jumped to a record $16 billion in April.

House Republicans advanced the bill late Sunday, but budget analysts across the political spectrum warn that the proposal worsens the U.S. fiscal picture.