With the national debt over $36 trillion, newly-confirmed Treasury Secretary Scott Bessent promised to reduce government spending. Bessent, who was confirmed by the Senate with a vote of 68-29, also supports renewing President Trump's 2017 tax cuts, estimated to cost $4 trillion.
Bessent expressed concerns about a potential economic crisis in 2025, warning that failure to act could lead to the largest tax increase ever. He emphasized the importance of making the 2017 Tax Cuts permanent and creating new policies to lower taxes for American workers.
As the national debt is projected to exceed $37 trillion, outgoing Treasury Secretary Janet Yellen indicated that the Treasury would reach its debt limit soon, requiring extraordinary measures. Bessent’s confirmation follows the appointment of Gov. Kristi Noem as Secretary of Homeland Security.
https://www.thecentersquare.com/national/article_b36fe734-dce8-11ef-a67b-9fbc73e32f7e.html
No comments:
Post a Comment