By David Lawder

WASHINGTON (Reuters) -U.S. federal budget deficits will be nearly $1 trillion higher over the next decade than projected in January by the Congressional Budget Office as a result of tax and spending legislation and tariffs, a budget watchdog said on Wednesday.

The Committee for a Responsible Federal Budget’s latest forecasts show a cumulative deficit of $22.7 trillion from fiscal 2026 to 2035, compared to the CBO’s January forecast of $21.8 trillion, which was based on laws and policies that were in place before U.S. President Donald Trump took office in January.

The CBO, Congress’ non-partisan budget referee agency, said on Monday that it will not issue its customary mid-year budget update this year and will issue its next 10-year budget and economic outlook in early 20

See Full Page