Treasury Secretary Bessent Highlights Impact of Trump's Tax Policies on 30 Million Americans
Treasury Secretary Scott Bessent announced that nearly 30 million Americans have benefited from President Trump's tax policies, specifically the 'No Tax on Tips' and 'No Tax on Overtime' deductions. These measures are part of the One Big Beautiful Bill Act (OBBBA), which also includes tax cuts on vehicle loan interest and increased deductions for state and local taxes. Bessent, alongside Rep. Mike Lawler, discussed these policies with small business owners in the Hudson Valley, emphasizing their positive impact on the workforce. The policies have reportedly encouraged more individuals to enter the workforce, as seen in the hospitality sector where businesses are experiencing an influx of job applicants.