The nonpartisan Congressional Budget Office (CBO) estimated that the Republican budget bill under consideration would trigger about $500 billion in automatic cuts to Medicare, the program that provides health insurance to around 68 million older adults and people with disabilities.

Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.

Some $500 billion in cuts to Medicare could be avoided if Congress instructs the White House budget office to disregard the reconciliation package’s debt impact.

Tax cuts pushed by President Trump are amplifying debt and deficit concerns among the powerful market players who influence interest rates.

More than an estimated 8 million recipients could lose Medicaid coverage, according to a CBO analysis requested by House Democrats. Republicans say they're targeting able-bodied adults and undocumented immigrants, but other beneficiaries could also be impacted.

The sell-off in bonds accelerated as investors continued to fret over the US deficit, with the 10-year yield rising past 4.5% and the 30-year topping 5%.

The greatest benefits would go to high-income households, while low-income families would see a much more modest boost, analyses show.

After the United States lost its last perfect credit rating on Friday, Republicans and Democrats responded by pointing fingers at each other.