President Trump’s Treasury Secretary Scott Bessent is pushing to lock in the 2017 tax cuts and add new breaks for working Americans. He says making the Trump-era tax rates permanent will stop the biggest tax hike in history and give families and businesses the certainty they need to thrive. The plan also cuts taxes on tips, overtime pay, and Social Security benefits to help working-class Americans keep more of their money.
Bessent warned that letting the 2017 tax cuts expire would slam families with a 22% tax hike. A typical family of four earning $80,610 would lose $1,695 a year—enough for nine weeks of groceries. Lower taxes let small businesses hire more workers and invest in local communities, fueling the economy. The Trump team says this is how you fix the “affordability crisis” caused by years of Democrat policies.
Democrats claim the tax cuts mostly help the rich, but Bessent shot back that billionaires don’t collect tips or work overtime. The real winners are waitresses, nurses, and truckers who’ll see bigger paychecks. No tax on Social Security means retired teachers and factory workers can finally catch a break. This is about fairness for the forgotten men and women of America.
Certainty is key. Bessent ripped Washington’s budget rules that let spending grow forever but treat tax cuts as temporary. Making the 2017 rates permanent ends the games and lets families plan their futures. Businesses can expand knowing their taxes won’t skyrocket overnight. This stability is what Trump’s “America First” economy is all about.
Deregulation is another piece of the puzzle. Trump’s team is slashing red tape that strangles banks and businesses. Jamie Dimon of JPMorgan Chase says bankers are “dancing in the streets” as rules get rolled back. The administration wants to unleash American energy, manufacturing, and innovation by getting bureaucrats out of the way.
Bessent blasted the Congressional Budget Office for using “crazy accounting” that ignores economic growth. The CBO claims tax cuts don’t boost the economy, but real-world results prove otherwise. Wages rose and jobs flooded back after the 2017 reforms. Trump’s policies are fixing the mess Biden left behind, and the numbers don’t lie.
Democrats are scrambling to block Trump’s agenda, but they’re losing the argument. Voters remember the strong economy under Trump and the inflation disaster under Biden. With Republican unity in Congress, the push for tax relief and deregulation is unstoppable. The left’s fearmongering about “tax cuts for the rich” isn’t working this time.
The Trump administration is charging full speed ahead. Bessent says this is just the start—more tax cuts, fewer regulations, and a booming economy are coming. Working Americans finally have a president who puts them first, not coastal elites or lobbyists. The best is yet to come.
