Withholding tweak could boost your take-home pay, says Scott Bessent
Treasury-related remarks from Scott Bessent urge workers to review and adjust their tax withholding to automatically increase take-home pay on a weekly or monthly basis, leveraging the Working Families Tax Cuts. The White House notes an improving refunds season (avg refunds over $3,400) with millions claiming deductions like No Tax on Tips, No Tax on Overtime, and senior benefits. For those with extra cash, the piece recommends deploying it prudently: invest in broad-market index funds (e.g., S&P 500), use micro-investing apps like Acorns, explore real estate crowdfunding (Mogul), and park funds in high-yield cash accounts (Wealthfront) with strong APYs and FDIC protection to grow wealth over time.
