Tax Cuts Viewed Positively by Treasury Secretary
Treasury Secretary Scott Bessent expressed optimism Wednesday about the tax cuts introduced in President Donald Trump’s “Big Beautiful Act,” calling them a “home run” for working-class individuals. According to him, 53 million Americans have utilized at least one of the new deductions implemented by the president.
Bessent shared his thoughts during a White House press conference on Tax Day, responding to questions from Breitbart News. He noted how service workers in Washington, D.C.—like waiters, waitresses, and doormen—often thank Trump for the no-tipping tax policy.
When asked about the benefits these tax changes bring to working-class Americans, particularly those in the service industry, Bessent stated, “I might be the most popular cabinet member in Washington, D.C.” He explained that workers appreciate not having to pay taxes on tips.
During his remarks, he recalled a visit to a diner in Westchester County, calling the situation a “home run” for these workers.
The One Big Beautiful Act included not only the tipped worker deduction but also new deductions for qualified overtime workers, interest on loans for U.S.-assembled cars, and certain senior citizens.
Bessent mentioned that while specific data is still forthcoming, 52 million people have benefited from at least one of these deductions, and there is an expectation for more filers to use these new tax incentives.
He added, “Hardworking Americans and small businesses are keeping more of their earnings.” He pointed out that critics claiming these tax cuts favor the wealthy were ignoring the potential tax hikes on those making over $500,000, which could hurt small businesses.
According to the White House, tax refunds this year average 11% higher than last year, with Americans receiving 19% more compared to the previous four years. Notably, over 6 million individuals are utilizing the tax-free tip credit, while more than 25 million are claiming overtime credits. Additionally, over 30 million seniors benefit from the Social Security deduction.
White House press secretary Caroline Leavitt emphasized at the beginning of the briefing that “the tax cuts for working families put a historic amount back into the pockets of Americans” during this tax season.
