It looks like it will. Nonpartisan Estimates: The Committee for a Responsible Federal Budget estimates the bill will add approximately $3.3 trillion to the national debt through 2034. If temporary tax cuts are extended beyond their expiration dates, the increase could reach $5.3 trillion. The Penn Wharton Budget Model projects an increase in primary deficits of $3.3 trillion over 10 years, with the national debt rising by 7.2% in the same period. The Joint Committee on Taxation estimates the tax provisions alone would reduce federal revenues by $4.1 trillion from 2025 to 2034, contributing to a $3.3 trillion deficit increase on a dynamic basis. Bloomberg reports the bill’s cost at $3.8 trillion over 10 years, noting this may be a lowball estimate due to temporary tax cuts potentially being extended. Newsweek cites a range of $3.3 trillion to $5.7 trillion added to the debt through 2034, depending on how provisions are implemented. White House Claims: The White House, through Press Secretary Karoline Leavitt, claims the bill will save $1.6 trillion, citing a preliminary Congressional Budget Office estimate of $1.695 trillion in deficit reduction. However, this figure is disputed by fiscal watchdogs who argue the bill’s $3.8 trillion in tax cuts far outweigh the proposed spending reductions.