The Trump administration is projecting economic growth as a result of the bill. Certainly extending current tax law is a positive. People should always be able to keep as much of what they earn as possible. But Trump’s tariffs are simply a hidden tax. Interfering with free markets that diminish choice and forcing companies to pay higher prices for US goods will quickly offset any tax savings. More borrowing means a tightening of credit markets and higher interest rates. And higher interest rates means more of the federal budget will need to be dedicated to interest on the growing debt without any corresponding spending cuts.

Projections are just that, but there are a lot of negative things that can happen as a result of the BBB. Musk was right. Spending cuts are necessary. Kicking the can down the road is simply irresponsible.