At $36 trillion and growing, the U.S. federal debt could prevent the extension of all Tax Cuts and Jobs Act provisions. They’re currently due to expire at the end of 2025. The plan that extends tax breaks and funds President Trump’s other priorities is estimated by the nonpartisan Committee for a Responsible Federal Budget to increase the deficit by at least $4 trillion. The fiscally conservative House Freedom Caucus has threatened to block Trump’s spending plans unless any proposed legislation cuts debt by at least $1.8 trillion. Given the Republicans’ slim majority in the U.S. House, the party can lose only one vote, assuming all Democrats oppose Trump’s agenda.
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