HOUSTON, United States

The Congressional Budget Office (CBO) released its estimate Wednesday of President Donald Trump's tax and spending bill, saying it would add $2.42 trillion to the federal budget.

The nonpartisan CBO said Trump's so-called “One big, beautiful bill,” which was passed by the US House of Representatives last month, reflects a $3.67 trillion decrease in expected revenues and a $1.25 trillion decline in spending over the decade through 2034, relative to baseline projections.

But those massive numbers have raised concerns for conservative Republican allies, including the president's former head of the Department of Government Efficiency (DOGE), Elon Musk.

"(The) massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination," said Musk, who led DOGE's effort to cut spending from the government’s budget.

The bill would make permanent Trump's 2017 income-tax cuts and provide new benefits promised on the campaign trail, including eliminating taxes on tips and overtime pay through 2028. It also raises the cap on the federal deduction for state and local taxes from $10,000 to $40,000.

Trump administration officials have repeatedly dismissed the CBO projections as inaccurate, despite criticism of its massive price tag, saying the president's tax cuts, tariff hikes and deregulation will spark economic growth.

The spending bill still needs to clear a big hurdle in the US Senate, where it faces opposition from Democrats and Republicans.

Trump is expected to meet lawmakers from the Senate Finance Committee on Wednesday to discuss possible changes in the bill.