New CBO Report Highlights Revenue Gains from One Big Beautiful Bill Tax Cuts
WASHINGTON, D.C. — Yesterday, the Congressional Budget Office (CBO) published its Monthly Budget Review which showed non-tariff revenues are up by $50 billion thanks to the pro-growth policies enacted by the One Big Beautiful Bill.
House Budget Chairman Jodey Arrington:
"CBO’s Monthly Budget Review for July reinforces why we fought to make the One Big Beautiful Bill law: Republicans’ pro-growth tax policies continue to generate more revenue than CBO anticipated, while low- and middle-income Americans are receiving record tax refunds. CBO raised its estimate for non-tariff revenues—including income and payroll taxes—by $50 billion. That is a testament to the strength and productivity of American workers, entrepreneurs, and businesses.
"But, there’s more that must be done to restore America’s fiscal health. We cannot simply grow our way out of a $2 trillion annual deficit and $40 trillion national debt. Republicans and Democrats must work together to address the driver of our fiscal imbalance—our unsustainable entitlement spending."
