The debt ceiling deal between House Speaker Kevin McCarthy and President Joe Biden would amount to, if passed and enacted into law, the largest deficit reduction bill in American history, an official estimate forthcoming from the Congressional Budget Office (CBO) will show.
Preliminary numbers from the CBO, available on Monday ahead of a formal estimate expected to be released soon, show the deal would amount to more than $2.12 trillion in spending cuts.
“Our preliminary CBO score shows that the 6 year top lines we set in this bill would amount to the largest deficit reduction bill in history, over $2.12 trillion,” one House GOP leadership aide told Breitbart News.