Treasury's Bessent Highlights Tax Revenue Gains and Trade Relations
TL;DR
Treasury Secretary Scott Bessent announced that despite cost-cutting at the IRS, tax revenues in April and May exceeded last year's figures, easing concerns about the debt ceiling and potentially delaying the need for urgent congressional action. The government’s financial outlook has improved, with the estimated X-date pushed back to late summer, and discussions ongoing about budget legislation and negotiations involving foreign countries and the debt ceiling.
- Scoop: Bessent to take victory lap on tax revenue Axios
- Bessent Credits Trump Policies for ‘Substantial’ CPI Improvement Bloomberg
- Full Committee Hearing with Treasury Secretary Scott Bessent House Ways and Means (.gov)
- US Treasury's Bessent calls on China to be 'reliable partner' in trade negotiations Reuters
- Watch live: Bessent testifies before House on Treasury priorities The Hill
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