Republicans eye second "Big, Beautiful Bill" potentially greater than the first, raising new concerns over higher federal deficit

Lawmakers in the Republican Study Committee (RSC), a conservative think tank for the GOP House delegation, have begun the process of planning a second "Big, Beautiful Bill" - a reconciliation bill - that would potentially pass even more conservative fiscal policy than the first.

Speaker of the House of Representatives Mike Johnson.

The Fox News report was first to receive internal information abut this new shift in policy planning as it maintains a close relationship with the RSC. The goal of this new session was to conduct testing/experimentation as to how a second reconciliation bill post-BBB would look like - one that, according to top Republican leaders - would implement even more conservative legislation, including potentially deeper tax cuts.

"We must capitalize on the momentum we’ve generated in the first 6 months of a Republican trifecta in Washington," stated RSC Chairman August Pfluger, R-Texas to Fox News. "To fulfill the promises we made to the American people, conservatives must begin laying the groundwork for the second reconciliation bill to ensure we continue to drive down the cost of living and restore America’s promise for future generations."

In addition, Speaker of the House Mike Johnson told Fox News last weekend that the House GOP is eyeing potentially multiple reconciliation bills, maybe more than a second. "With President Trump coming back to the White House, and us having the responsibility for fixing every metric of public policy that Biden and Harris and the Democrats destroyed over the previous four years –  so the big beautiful bill was the first big step in that," he stated to Fox News television host Maria Bartiromo.

With the first step of the Republican agenda successful (the 1st stage of the Big, Beautiful Bill), reconciliation bills will become much easier for the Republican trifecta in the federal government to implement. These bills, while largely restricted to fiscal policy, merely require a 51-vote majority in the Senate versus other bills' 60, making their pass much easier - as much as three Republicans could vote against and still get passed (in case of tiebreaking vote of JD Vance).

These new bills are expected to include deep tax cuts as well as regulation cuts, two key pillars of fiscal conservative policy which President Trump repeatedly called out for during the 2024 presidential election. The "Big, Beautiful Bill," only the first step for many Republicans, will increase the deficit by $3.4 trillion and leave 10 million more Americans uninsured, according to the Congressional Budget Office (CBO).

A second bill of the sorts, with deeper tax cuts, could bring this number up by hundreds of billions to trillions depending on how far GOP lawmakers decide to craft the bill.

Billionaire investor Ray Dalio recently warned of a potential “economic heart attack” within three years unless U.S. deficits decline to 3% of GDP, calling current fiscal trajectory extremely dangerous [in reaction to GOP-led efforts to cut tax rates including new reconciliation bill proposals].