WASHINGTON – U.S. Secretary of the Treasury Scott Bessent issued the following statement upon passage of the One, Big, Beautiful Bill Act:
“The passage of the One, Big, Beautiful Bill has set the stage for the coming Golden Age as we prepare to celebrate the 250th year of our great nation. Thanks to President Trump’s visionary leadership, Speaker Johnson and House Republicans, working with Leader Thune and Senate Republicans, have passed the biggest legislative win for American workers and families—and prevented the largest tax hike—in history. President Trump has delivered on his promises to Main Street while strengthening critical programs, national security, and America’s manufacturing sector.
“The One, Big, Beautiful Bill will unleash the full potential of the U.S. economy. It locks in permanent, pro-growth tax cuts for families, workers, and job creators. The bill also enacts No Tax on Tips, No Tax on Overtime, and new tax cuts for seniors. The OBBB will strengthen important programs for those who need them most and save taxpayer dollars by cutting waste, fraud, and abuse. This consequential legislation cements the blue-collar boom and improves the lives of Americans on every rung of the economic ladder. As we saw after the passage of the 2017 Trump Tax Cuts, American businesses will hire, invest, and raise wages now that this Administration and the Republican Congress have delivered certainty and stability for the economy.”
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