Treasury Secretary Scott Bessent has been at the center of several headline developments over the past week as the administration addresses ongoing economic turbulence. A principal focus has been President Trump’s promise of a two thousand dollar dividend to Americans, which Trump suggested would be funded by revenue from tariffs. In multiple media appearances, Bessent quickly clarified that this dividend might not take the form of traditional stimulus checks. According to statements Bessent made on ABC News and Fox News, the so-called dividend could instead come via a range of tax cuts recently enacted in Trump’s latest economic policy bill. These include substantial deductions now in law, such as no tax on tips, overtime, or Social Security, and new deductibility for auto loans. Bessent emphasized that while these changes are substantial for many Americans, they will not necessarily result in direct two thousand dollar payments as the president initially suggested.

Bessent has warned about practical limitations of the proposal, noting that current tariff revenues would fall well short of covering the cost of sending two thousand dollars to every eligible American. According to the Treasury Department’s own recent reports, only about one hundred ninety five billion dollars has been collected in tariff revenue, which is far less than the estimated three hundred billion dollars that would be needed to fund Trump’s plan. Policy analysts from the Tax Foundation and coverage by major outlets including CBS News and ABC News have further explained that most of the math behind the plan does not add up, especially with ongoing legal challenges. The Supreme Court recently heard arguments over the legality of the administration’s broad use of tariffs, with several justices sounding skeptical. If the Court rules against the tariffs, businesses could be entitled to significant refunds, diminishing available revenue for any payouts.

At the same time, the United States is facing the fallout from its longest government shutdown on record. Speaking to ABC News, Bessent warned of the deepening economic consequences, including widespread federal worker furloughs and disruptions to air travel and cargo flows. There are significant concerns about potential supply shortages heading into the holiday season, and Bessent did not shy away from noting that the economic costs could get worse in the weeks ahead if the government does not reopen soon. He urged rapid legislative action as the Senate and House negotiate a budget deal that remains at a political impasse.

Thanks for tuning in and remember to subscribe. This has been a quiet please production, for more check out quiet please dot ai.

For more http://www.quietplease.ai

Get the best deals https://amzn.to/3ODvOta

This content was created in partnership and with the help of Artificial Intelligence AI