Trump Economic Advisor Hassett says GDP could drop 4% if Senate doesn’t pass One Big Beautiful Bill

Kevin Hassett, director of the National Economic Council of the United States, says Americans will experience the biggest tax hike in U.S. history if the Senate doesn’t pass the House-approved “One Big Beautiful Bill.” “If we have that tax hike, the Council of Economic Advisors here at the White House has estimated that we’ll have a recession, a really deep recession with maybe a decline of 4% of GDP,” he warns.