President Donald Trump’s sweeping tariff plan would cut deficits by $2.8 trillion over a 10-year period while shrinking the economy, raising the inflation rate and reducing the purchasing power of households overall.

The nonpartisan Congressional Budget Office handed Republicans a major political talking point Wednesday, with projections that showed the possibility for President Donald Trump’s tariffs to bring in more federal revenue than will be lost by his giant tax-cut plan.

Another 5.1 million people would lose access to health insurance over that period under current law, the CBO said.