Bessent Sees US Economic Crisis if Tax Cuts Not Extended

Scott Bessent, Donald Trump’s nominee for Treasury Secretary, said, “Americans are barreling toward an economic crisis at year-end,” as he emphasized the importance of extending Trump’s tax cuts. Testifying Thursday before the Senate Finance Committee, Bessent also spoke of what he sees as the federal government’s “significant spending problem,” the need to secure supply chains, and “carefully” deploying sanctions.

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