Bell raised the International Monetary Fund (IMF) For the President’s tax bill Donald Trump approaching its final vote on Thursday (3.7.2025), as it is likely to complicate the task of reducing the budget deficit and US debt weight in the coming years.
Including the global financial supervision for Donald Trump’s bill, the US must reduce public borrowing over time to begin to reduce debt decisively in relation to the gross domestic product, a common measure of viability.
The tax bill “seems to oppose a reduction in federal debt in the medium term,” Kozack told reporters in a report in Washington on Thursday. “The earlier this process of reducing the deficit begins, the more gradual it can be to reduce the deficit over time.”
Although the term “medium -term” may have different definitions, the IMF based in Washington often uses periods of three to five years. The Senate bill now passed by the House of Representatives adds $ 3.3 trillion to the deficit, according to the Congress Budget Office.
The IMF is considering the details of the bill and its possible impact on the US economy and will provide new forecasts for the US and the global economy on updating its global economic perspectives later this month, Kozak said.