Bessent Says Budget Reconciliation Could Advance New Trump Retirement Plan

‘Everybody will have a stake in our great, innovative economy,’ the Treasury secretary said of the plan to subsidize accounts for Americans who lack a 401(k).

Treasury Secretary Scott Bessent testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Feb. 5, 2026. Madalina Kilroy/The Epoch Times

Treasury Secretary Scott Bessent said on Feb. 24 that President Donald Trump’s new retirement proposal could be advanced through budget reconciliation.

In his record‑long State of the Union address, the president announced a plan to give Americans who lack an employer‑sponsored retirement plan—such as a 401(k)—access to the same program available to federal workers.