Treasury Secretary Scott Bessent said a tax cut that was endorsed by the Trump administration prevented a potential “$4.5 trillion tax hike” and will allow Americans to keep thousands of dollars in “real wages” starting this year.
During remarks at a Minnesota Economic Club event on Thursday, the secretary said that the “average American to keep up to $7,200 more in annual real wages and the average family of four to keep up to $10,900 more in take-home pay” under the Working Families Tax Cut under the GOP-backed One Big Beautiful Bill Act.
