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this post was submitted on 17 Jan 2025
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"This is the single most important economic issue of the day,” Bessent said. “This is pass-fail. If we do not fix these tax cuts, if we do not renew and extend, then we will be facing an economic calamity, and as always, with financial instability that falls on the middle and working class.”
An extension of this legislation would reportedly cost $4 trillion over a decade. Bessent previously said that he would cover this cost through other budget cuts. Trump has proposed extending the 2017 law’s tax cuts for individuals and another, larger tax cut for corporations."
JFC... "Gimme the money or the poor get the knife! Don't worry about the deficit, we'll just take away things from the poor!"