(Reuters) – Scott Bessent, U.S. President-elect Donald Trump’s alternative to move the Treasury Division, on Thursday mentioned that extending Trump’s 2017 tax cuts which might be set to run out on the finish of this yr is “the only most essential financial concern of the day.”
“If we don’t renew and prolong, then we might be dealing with an financial calamity,” Bessent advised the U.S. Senate Finance Committee. “We’ll see a big center class tax enhance.”
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