The Hidden Price Tag of a $5.5 Trillion Budget Package

At JLB Financial, we closely monitor fiscal developments that can affect your financial future. According to a recent report from the Committee for a Responsible Federal Budget (CRFB), House leadership is considering a budget resolution allowing for $5.5 trillion in new deficit spending. What does this mean for you and your retirement plans?

If passed, this package could:

• Increase interest costs by $1.3 trillion over the next decade
• Push annual federal interest payments to $2 trillion by 2035
• Consume 27% of federal revenue by 2035, up from 18% today

As interest payments outpace spending on Medicare and defense, the government will need more revenue to cover the gap. This often means higher taxes.

What does this mean to you?

Now is the time to reassess your retirement and tax planning strategies. Higher national debt increases the likelihood of future tax hikes. Let’s schedule a time to review your plans and ensure they are optimized to minimize your tax burden in retirement. Reach out to [email protected] or 323-547-8990