Vought: Estimates that tariffs will reduce deficit 'major part' of argument for 'big, beautiful bill'

President Trump's budget chief Russell Vought argued that the prediction the tariffs will take a major bite out of U.S. deficit levels is a key part of the administration's argument for the GOP's "big, beautiful bill."

The Congressional Budget Office (CBO) found Wednesday that Trump's tariffs will reduce the deficit by $2.5 trillion over the next decade, while also finding that the bill passed by the House would add $2.4 trillion to deficits through 2034.

Vought, who is the director of the Office of Management and Budget...