Estimates released Wednesday by the nonpartisan Congressional Budget Office show that the House-passed GOP reconciliation package would add a staggering $2.4 trillion to the U.S. national debt over the next decade, even after accounting for the legislation's unprecedented cuts to Medicaid and federal nutrition assistance.

According to the CBO, the Republican budget legislation would slash taxes by $3.75 trillion—with the benefits disproportionately flowing to the rich. The massive debt impact of the tax cuts would be partially—but not even close to fully—offset by the bill's attacks on Medicaid, the Affordable Care Act (ACA), the Supplemental Nutrition Assistance Program (SNAP), and green energy programs.

The CBO projects that 10.9 million people would lose health insurance if the Trump-backed Republican proposal becomes law.