Political Quotes

“later today, we will hold a vote on the nomination of Scott Bessent to be Treasury Secretary. An example of the American dream in action, Mr. Bessent rose from challenging economic circumstances to a career in the world of finance, and he brings a wealth of private sector experience in the economy and markets to his new role, as well as a concern for the needs of working Americans. During President Trump's first administration, we passed major tax relief legislation. The Tax Cuts and Jobs Act reformed our Nation's outdated Tax Code, lowered tax rates across the board, nearly doubled the standard deduction, doubled the child tax credit, and enacted pro- growth policies for American businesses of all sizes. As a result, the economy took off, and our Nation became more competitive. Household incomes increased, and the employment rate hit its lowest level in 50 years. Now, however, a lot of that tax relief is close to expiring, and without action, American families and businesses will face a staggering $4 trillion tax hike next year. At the top of the Republican agenda is extending that tax relief to help our economy and the American people thrive. I deeply appreciate the fact that Mr. Bessent shares that commitment, and I am looking forward to working with him on extending the Tax Cuts and Jobs Act. I am also looking forward to working with him to help ensure that American businesses large and small remain competitive in the global economy.…”