Its assessment comes a day after key Trump ally Elon Musk blasted the bill as a "disgusting abomination," giving fresh support to Republican deficit hawks who have been pushing back against the measure.

The House-passed version of President Donald Trump’s tax and spending bill would add $2.42 trillion to US budget deficits over the next decade, according to a new estimate from the nonpartisan Congressional Budget Office.

"Shame on those who voted for it: you know you did wrong," the Tesla CEO wrote, citing projections that the legislation would add more than $2 trillion to the national debt.

Musk spearheaded DOGE for Trump and faced fierce backlash over his efforts to dramatically shrink the federal government.

WASHINGTON – Elon Musk is launching an all-out attack on President Donald Trump's sweeping tax and policy bill, urging his 220 million-plus followers on social media to lobby their lawmakers and "KILL the BILL.