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April 10, 2018

Analysis: Tax cuts, spending get deficit to $1T by 2020

By ANDREW TAYLOR
Associated Press

WASHINGTON — The combined effect of President Donald Trump's tax cuts and last month's budget-busting spending bill is sending the government's budget deficit toward the $1 trillion mark next year, according to a new analysis by the Congressional Budget Office.

The CBO report says the twin tax and spending bills will push the budget deficit to $804 billion this year and just under $1 trillion for the upcoming budget year.


 
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