Treasury Secretary nominee Scott Bessent says Trump tax cuts should not expire
"This is the single most important economic issue of the day," Bessent told the committee.
Bessent warned if
"As always with financial instability, that falls on the middle and working class people," he said.
"The distribution of it was deeply, deeply, deeply unfair," Bennet said. "While the benefit went to the richest people in America, the cost is being borne by the children of working people."
"It clobbers people of modest means," said
Wyden said workers and small businesses would have to pay more taxes.
"All through the campaign, we heard they weren't, that foreign countries were going to pay it. I think that's bologna!," Wyden said.
Bessent disagreed, saying foreign countries "will continue cutting prices to maintain market share."
"If confirmed, I've agreed to shutter my firm," Bessent said.
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