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The Inflation Reduction Act may lead to a $3.3 trillion increase in U.S. debt over 10 years.
On June 29, the U.S. Congressional Budget Office stated that the Senate version of the "Beautiful Law" will increase the U.S. debt by $3.3 trillion over the next decade.
The "Beautiful Big Law" narrowly passed the House of Representatives on May 22 by a single vote and passed the Senate procedural vote with a slim margin on June 28, encountering many bumps along the way. Moreover, in order to get the bill passed in the Senate, the lawmakers made amendments to the provisions, and the modified parts will need to go back to the House for another round of voting after the Senate vote.