President Donald Trump’s tax and budget bill would increase deficits by $2.8 trillion over the next decade after factoring in other economic effects.

President Donald Trump and congressional Republicans are promising that their sweeping tax and spending cuts package will usher in an era of historic economic growth.

Republicans who control the U.S. Senate Finance Committee unveiled changes to President Donald Trump's sweeping tax-cut and spending bill on Monday that would make business-related tax breaks permanent while modifying Medicaid reforms and a new federal deduction for state and local taxes.