U.S. Treasury Secretary Scott Bessent took to X (formerly Twitter) on Wednesday, expressing his enthusiastic endorsement of President Trump’s “One Big Beautiful Bill” (BBB), which has recently been enacted into law.
Bessent has consistently been a staunch supporter and spokesperson for President Trump since stepping into his role as Treasury Secretary. His communication style is characterized by a respectful tone and well-reasoned arguments, lending significant weight to his statements.
During a discussion with Newsmax host Rob Schmitt last night, Bessent identified himself as “a fiscal hawk but I’m also a realist.”
In the first hundred days, @POTUS has set the table for peace deals, trade deals, and tax deals.
In the next hundred days we will land a substantial number of all three. pic.twitter.com/Z1uKon1anO
— Treasury Secretary Scott Bessent (@SecScottBessent) June 4, 2025
On Wednesday, Bessent cautioned that should the BBB fail to navigate through the Republican-controlled Congress, the nation could face unprecedented tax increases next year.
As reported by Midnight Rider, Bessent stated:
1.) Scott Bessent: We cannot allow the American people to suffer the biggest tax hike in history next year. Getting POTUS’s “One Big Beautiful Bill” passed is one of our top priorities. This bill is a crucial element of President Trump’s ambitious economic strategy aimed at fostering long-term growth. The American populace deserves to understand how this legislation will directly benefit them. Thread.
2.) WORKING FAMILIES
✔️ No federal income tax on tips or overtime pay.
✔️ Increased standard deduction for every household.
✔️ Additional senior deduction to help retirees retain more of their hard-earned savings.
These funds remain with you, not in the hands of Washington.
WORKING FAMILIES
✔️ No federal income tax on tips or overtime pay.
✔️ Increased standard deduction for every household.
✔️ Additional senior deduction to help retirees retain more of their hard-earned savings.
These funds remain with you, not in the hands of Washington.
— Treasury Secretary Scott Bessent (@SecScottBessent) June 4, 2025
3.) SMALL BUSINESS & ENTREPRENEURS
✔️ The bill retains and enhances the small business pass-through deduction.
✔️ Immediate expensing for research and development to enable innovators to scale operations more rapidly.
It’s Main Street, not Wall Street, that will propel the next wave of job creation.
4.) MADE IN AMERICA
The legislation provides full 100% expensing for new factories, equipment, and machinery—plus reinstated bonus depreciation and immediate write-offs for research expenditures.
Build it here, hire here, own it here. A robust supply chain translates to enhanced national security and improved wages.
MADE IN AMERICA
The bill delivers full 100% expensing for new factories, equipment, and machinery – plus restored bonus depreciation and immediate write-offs for research outlays.
Build it here, hire here, own it here. Strong supply chains mean stronger national security and…
— Treasury Secretary Scott Bessent (@SecScottBessent) June 4, 2025
5.) PROTECTING U.S. SOVEREIGNTY
Should a foreign government impose an extraterritorial tax on American corporations, it results in increased U.S. taxes for their residents and governments—this tax burden diminishes when those governments relent.
Foreign entities must not profit from taxing U.S. success within our borders.
6.) With stronger wages, elevated productivity, and a target of 3% real GDP growth, this bill aims to enhance revenue through economic expansion rather than through rising tax rates.
A flourishing economy restores dignity and autonomy to the American populace, paving the way for countless families to secure a more sustainable and prosperous future.
With stronger wages, higher productivity, and goal-line 3% real GDP growth, this bill boosts revenue through expansion, not higher rates.
A strong economy restores pride and independence to the American people and allows millions of families to secure a more resilient and prosperous future.
— Treasury Secretary Scott Bessent (@SecScottBessent) June 4, 2025
Bessent, a billionaire businessman, presents compelling arguments in favor of the bill. The question remains: Will Republicans embrace this legislation, or will they once again pivot against Trump?
