Treasury Secretary Scott Bessent made a visit to Nassau County on Monday evening, where he engaged with local small business owners who shared their experiences navigating the current economic landscape under President Trump.
“Wall Street has its achievements, and now it’s time for Main Street to thrive,” Bessent remarked to a gathering that included real estate agents, restaurant operators, school board members, local politicians, and community residents.
He emphasized that the administration is fostering a business-friendly atmosphere again through deregulation policies. His mantra was “Work harder, keep more money,” as he pointed to various financial measures benefiting everyday workers. Many felt these changes were providing a much-needed lift.
Bessent discussed initiatives like President Trump’s children’s savings accounts, which he referred to as “the ultimate real-time experiment.” He touched on the Big Beautiful Act, promoting overall opportunities for growth and prosperity.
In addition, he announced a new policy offering financial incentives—up to 30% fines for fraud whistleblowers—aimed at tackling significant fraud cases like the daycare scandal in Minnesota.
Bessent compared the importance of reporting such issues to the MTA’s familiar slogan, “If you see something, say something.”
Meanwhile, Nassau County Executive Bruce Blakeman highlighted the county’s solid financial status, noting, “[We have] one of the lowest poverty rates in the country. Our demographics mirror those of New York state,” adding he supports Trump.
Blakeman, who is also a Republican gubernatorial candidate, stressed the importance of economic development while maintaining low taxes. “We welcome businesses. That’s the environment we want to create,” he said, pointing to the need for reduced taxes and increased energy solutions to help lower utility bills.
Former MMA fighter and Wantagh real estate agent Al Iaquinta, present at the meeting, backed Blakeman’s claims, saying the booming housing market showcases Nassau’s financial health. “People are buying. We have a line down the block,” he commented.
Gus Tsiolvas, who owns Embassy Diner in Bethpage, met Bessent too, praising Trump’s stance on the tip-exemption policy. “My diner isn’t just surviving; it’s thriving,” he said, reflecting on his positive experience.
One of Tsiolvas’ employees had previously shared her struggles with tip taxation, featured on the cover of the Post last December.
Following public backlash, Governor Kathy Hochul reverted her position on taxing tips in January.
Tsiolvas shared his thoughts, saying, “I’m not sure how significant this is, but one of my waiters, John, is finally planning a trip to Disney World with his three kids.” He also mentioned another waitress, Cindy, a single mom, who was able to throw her daughter a big birthday celebration thanks to the tax-free tips.
Bessent found humor in the popularity of the no-tax policy among the service sector, joking about being the “most popular minister” for it. He noted that Trump’s interest in this policy was sparked by a visit to a diner in Nevada.
“Thank God we have a caring president,” Tsiolvas added, expressing his gratitude.
