Bessent Sets July 4 Target, Says Congress ‘In Lockstep’ on Budget Reconciliation

The Treasury secretary said the new ‘x date’ to force a debt limit increase will be determined once tax receipts are fully collected.

Treasury Secretary Scott Bessent speaks to reporters outside the White House in Washington on April 9, 2025. Travis Gillmore/The Epoch Times

WASHINGTON—Treasury Secretary Scott Bessent offered an update on budget reconciliation talks, suggesting that tax-related elements would be settled by July 4.

“The House is moving things along quickly, and the Senate is in lockstep,” Bessent told reporters on April 28 as he stood beside National Economic Council Director Kevin Hassett. “We think they are in substantial agreement.”