Federal Budget and Deficit

The Congressional Budget Office's decision to reduce projected deficit savings from tariffs by about $1 trillion sharply undercuts President Trump's promises to finance $2,000 rebate checks, farm aid and wider deficit reduction with tariff revenue. Independent estimates — PWBM's roughly $225 billion in 2025 receipts and BPC's $258.1 billion year‑to‑date figure — stand far below the CRFB's roughly $600 billion cost estimate for $2,000 checks and come against an $1.8 trillion FY2024 deficit, while the White House says spending plans aren't finalized even as Trump vows tariff "refunds" next year and has floated eliminating income tax.