U.S. Secretary of the Treasury Scott Bessent released a statement following the Senate's approval of the One, Big, Beautiful Bill Act. This legislation marks a significant move towards implementing President Trump's economic agenda.
Bessent highlighted the importance of this vote in preventing a substantial tax increase. "Today’s Senate vote is a major step forward in enacting President Trump’s agenda to revitalize the American economy and provide certainty to households and businesses alike," he stated. The bill includes measures such as No Tax on Tips, No Tax on Overtime, new tax cuts for seniors, and essential provisions for the manufacturing sector.
He acknowledged the efforts of Senate Republicans, particularly Leader Thune and Chairman Crapo, in advancing this legislation through the Senate. "I appreciate the tireless work of Leader Thune and Chairman Crapo to usher this legislation through the Senate and closer to the President’s desk," Bessent remarked.
The Secretary urged House Republicans to expedite their actions so that these economic promises can be fulfilled. "We encourage House Republicans to act quickly so that we can deliver on President Trump’s promises to power the future of our economy and ensure the United States remains the world’s premier destination for capital and innovation."
