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Economic Viewpoint

What to think of the One Big Beautiful Bill Act?

June 17, 2025
Francis Généreux
Principal Economist

The centrepiece of President Trump’s budget and tax agenda was passed a few weeks ago by the US House of Representatives. But the sprawling, 1,038‑page bill hasn’t been finalized, as it still has to pass the Senate. While the upper chamber of Congress could pass the bill as written, it also has the power to introduce amendments—potentially sweeping ones. What can be said about the current version? Despite its hefty budgetary cost, the “One Big Beautiful Bill” does little to address the problems facing the US economy. At best, it could provide a modest boost to economic growth, particularly in 2026. However, the resulting increase in federal debt is likely to further fuel concerns about the state of US public finances.

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What to think of the One Big Beautiful Bill Act? (PDF, 371 KB)
NOTE TO READERS: The letters k, M and B are used in texts, graphs and tables to refer to thousands, millions and billions respectively. IMPORTANT: This document is based on public information and may under no circumstances be used or construed as a commitment by Desjardins Group. While the information provided has been determined on the basis of data obtained from sources that are deemed to be reliable, Desjardins Group in no way warrants that the information is accurate or complete. The document is provided solely for information purposes and does not constitute an offer or solicitation for purchase or sale. Desjardins Group takes no responsibility for the consequences of any decision whatsoever made on the basis of the data contained herein and does not hereby undertake to provide any advice, notably in the area of investment services. Data on prices and margins is provided for information purposes and may be modified at any time based on such factors as market conditions. The past performances and projections expressed herein are no guarantee of future performance. Unless otherwise indicated, the opinions and forecasts contained herein are those of the document’s authors and do not represent the opinions of any other person or the official position of Desjardins Group.