CBO Revises Tariff Revenue Estimate, Deficit Impact
Update: 2025-11-21
Description
The Congressional Budget Office (CBO) has revised its projections for tariff revenue, now estimating a $1 trillion reduction in projected savings by 2035. This change is due to reduced tariffs and a better understanding of tariff-free goods entering the U.S. Despite President Trumps claims of tariff revenue funding checks and debt reduction, experts remain skeptical. The CBOs revisions reflect a deeper understanding of tariffs economic impact, including increased tariff-free goods from Mexico and Canada, and reduced steel and aluminum values in goods subject to tariffs. The situation underscores the complexities of trade policy and its effect on government finances.
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