President Donald Trump’s big bill making its way through Congress will cut taxes by $3.7 trillion but also increase deficits by $2.4 trillion over the next decade, according to an analysis released Wednesday by the nonpartisan Congressional Budget Office.

House Republicans’ sweeping tax and spending cuts package would increase the deficit by $2.4 trillion over the next decade, according to the Congressional Budget Office’s analysis of the bill that GOP lawmakers narrowly approved last month.