Treasury Secretary Scott Bessent on Tuesday dismissed the debt-focused <a href="https://www.dailywire.com/news/elon-musk-warns-republicans-vote-for-big-beautiful-bill-lose-your-next-primary" target="_blank" rel="noopener">attacks</a> by tech entrepreneur Elon Musk against Republicans who back the &#8220;One Big, Beautiful Bill&#8221; championed by President Donald Trump.
During an evening interview on Fox News, Bessent assured host Laura Ingraham that the legislation would be the start of Washington&#8217;s effort to get its financial house in order, after being pressed on Musk&#8217;s threat to back primary challengers against GOP lawmakers who vote for it.
&#8220;As I said earlier this morning, I think if Elon sticks to rockets, I will stick to finance,&#8221; Bessent said, alluding to how Musk owns SpaceX. &#8220;And, you know, I am confident that this bill is going to pay down the debt and there were 50 senators who weren’t threatened by his words.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
Bessent fires back at <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> criticism
“If Elon sticks to rockets, I&#8217;ll stick to finance. I&#8217;m confident this bill pays down debt. 50 senators weren’t threatened by his words— <a href="https://twitter.com/VP?ref_src=twsrc%5Etfw">@VP</a> broke the tie. Trump’s shown incredible leadership moving this forward.” —Treasury… <a href="https://t.co/Rqxpp7DXeU">pic.twitter.com/Rqxpp7DXeU</a>
— Laura Ingraham (@IngrahamAngle) <a href="https://twitter.com/IngrahamAngle/status/1940193218060026061?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
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GOP leaders in Congress have been racing to get the legislation to Trump by his stated deadline of <a href="https://www.dailywire.com/news/down-to-the-wire-can-congress-meet-trumps-july-4-deadline-for-the-big-beautiful-bill" target="_blank" rel="noopener">July 4</a>. Topline items include extending the 2017 tax cuts, which are set to expire at the end of this year; boosting funds for border security and the military; cutting red tape for American energy production; and raising the debt ceiling by trillions of dollars.
<a class="c-link c-link--focus-visible" href="https://get.dailywire.com/freedom/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=freedom&amp;utm_content=freedomeditorial&amp;_gl=1*r8odly*_gcl_au*MTQ5MDUzNjQ0NC4xNzQ1ODQ0MzMyLjEwNDAyMzM0NDQuMTc0NzY1MzIxNy4xNzQ3NjUzMjE3*_ga*MTM1OTk4Njg2NS4xNzA2NzE2NTAy*_ga_CZKR9ZYKJP*czE3NTEyOTIzMDQkbzMyJGcxJHQxNzUxMjkyOTI5JGo1NyRsMCRoMA.." target="_blank" rel="noopener" data-stringify-link="https://get.dailywire.com/freedom/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=freedom&amp;utm_content=freedomeditorial" data-sk="tooltip_parent" aria-describedby="sk-tooltip-75638">JULY 4 SALE: Get Six Months Of DW+ Free</a>
The Senate <a href="https://www.dailywire.com/news/trump-scores-major-victory-as-vance-helps-push-big-beautiful-bill-through-senate" target="_blank" rel="noopener">passed</a> on Tuesday the 800+<a href="https://x.com/jamiedupree/status/1940096392199852393" target="_blank" rel="noopener">page</a> bill, which aims to fulfill many of Trump&#8217;s spending and tax-cut goals for his second term, by a 51-50 vote. Vice President JD Vance broke a tie after three Republicans — Sens. Thom Tillis (R-NC), Rand Paul (R-KY), and Susan Collins (R-ME) — broke ranks and opposed the measure.
In addition to raising concerns about Medicaid cuts, critics of the bill are spooked by estimates showing it would add trillions of dollars to the national debt. Its defenders insist the legislation will help grow the economy in a way that crushes the problem in the long term.
Musk, whose alliance with President Donald Trump <a href="https://www.dailywire.com/news/trump-says-hes-very-disappointed-with-elon-musk-fires-back" target="_blank" rel="noopener">crumbled</a> several weeks ago after he began openly criticizing the &#8220;One Big, Beautiful Bill,&#8221; warned on Monday that he would actively work toward ensuring GOP lawmakers who voted for the legislation, despite GOP campaign promises to rein in government spending, get voted out of office.
&#8220;Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!&#8221; Musk <a href="https://x.com/elonmusk/status/1939776586989150590" target="_blank" rel="noopener">said</a> in a post on X. &#8220;And they will lose their primary next year if it is the last thing I do on this Earth.&#8221;
Such a move would mark a massive turnaround for Musk, who <a href="https://www.washingtonpost.com/politics/2025/01/31/elon-musk-trump-donor-2024-election/" target="_blank" rel="noopener">spent more</a> than $250 million to help Trump and other Republicans win elections last year before spearheading the current administration&#8217;s Department of Government Efficiency (DOGE) effort through roughly the end of May with a stated mission of getting rid of waste, fraud, and abuse.
Trump <a href="https://www.dailywire.com/news/trump-doge-is-the-monster-that-might-have-to-go-back-and-eat-elon" target="_blank" rel="noopener">shot back</a> at Musk, who also proposed a new political party, suggesting that &#8220;DOGE is the monster that might have to go back and eat Elon&#8221; and suggested any subsidies his companies get might be in jeopardy. The president himself threatened to rally behind primary challengers against Republicans who oppose the bill. One of them, Tillis, <a href="https://www.dailywire.com/news/tillis-buckles-to-trump-threat-wont-seek-reelection" target="_blank" rel="noopener">announced</a> on Sunday that he would not seek re-election. Another is Rep. Thomas Massie (R-KY), whom Musk <a href="https://www.dailywire.com/news/elon-musk-warns-republicans-vote-for-big-beautiful-bill-lose-your-next-primary" target="_blank" rel="noopener">said</a> he would support.
Bessent voiced confidence in the bill&#8217;s prospects as the House considered the Senate-amended version, even as some GOP lawmakers derided <a href="https://www.dailywire.com/news/here-are-the-major-things-the-senate-changed-in-the-big-beautiful-bill" target="_blank" rel="noopener">changes</a> made by the upper chamber.
&#8220;President Trump has shown incredible leadership on this and in conjunction with Senate Majority Leader John Thune (R-SD) and House Speaker Mike Johnson (R-LA),&#8221; Bessent said, &#8220;I think they are going to hold the majorities together and push this forward.&#8221;

Treasury Secretary Scott Bessent

‘If Elon Sticks To Rockets, I Will Stick To Finance’: Bessent Shrugs Off Musk Debt Drama

Congress

Donald Trump

Elon Musk

Politics

Scott Bessent

Spending Bill

Tax Cuts

U.S. House of Representatives

The Trump administration’s Department of the Treasury on Wednesday announced sanctions on leaders of a ruthless Mexican drug cartel in a move that the federal agency says will hinder the organization’s drug trafficking operations.
The sanctions targeted five key figures of the Cartel de Jalisco Nueva Generacion (CJNG), a vicious criminal enterprise that produces illicit drugs and traffics them into the United States.
“CJNG’s reign of terror across Mexico and its trafficking of fentanyl into the United States has destroyed countless innocent lives,” Treasury Secretary Scott Bessent <a href="https://home.treasury.gov/news/press-releases/sb0169">said</a>. “The United States remains strongly committed to leveraging all available tools to degrade the capacity of CJNG and other cartels to flood our streets with dangerous drugs and perpetrate heinous acts of violence against civilians.”
Any property held by the five cartel members in the United States will now be frozen and reported to the federal government.
The Treasury Department described the organization as “a brutally violent cartel responsible for a significant share of fentanyl and other illicit drugs entering the United States,” adding, “It uses murder as a tactic to intimidate rivals, including sending messages to other cartels through the targeted killings of women.”
CJNG’s founder and leader, Ruben Oseguera Cervantes, known as “El Mencho,” was among the five men targeted.
“Under Oseguera’s direction, CJNG operatives have assassinated rivals, Mexican law enforcement, judges, and other government officials,” the Treasury Department noted, also pointing out that Oseguera’s leadership allowed the cartel to “function like a franchise business across several Mexican states,” allowing the criminal enterprise to spread across the country and rake in billions of dollars from the drug trade.
The Treasury also sanctioned Julio Alberto Castillo Rodriguez, who it identified as a senior CJNG member and the son-in-law of Oseguera. Castillo, believed to be a possible successor to Oseguera, operates a port in southwestern Mexico that the cartel uses to import fentanyl precursors.
Another target, Gonzalo Mendoza Gaytan, is known to recruit new CJNG members and train them at Izaguirre Ranch, a facility in the Mexican state of Jalisco, according to the Trump administration. Mendoza “directed lieutenants to train new CJNG recruits and kill those who defied instructions” and “has also been involved in the murder of numerous law enforcement officers,” the Treasury Department said.
The Treasury hit two more CJNG operatives, Audias Flores Silva and Ricardo Ruiz Velasco, with sanctions. Flores is a regional CJNG commander over several Mexican states and oversees laboratories that produce methamphetamine, while Ruiz runs the CJNG’s propaganda wing. Ruiz is also believed to have killed his girlfriend during a live social media broadcast.
The flurry of sanctions comes after the Treasury Department previously unveiled similar sanctions against members of the <a href="https://www.dailywire.com/news/trumps-treasury-dept-launches-sanctions-targeting-sinaloa-cartel">Sinaloa Cartel</a> and <a href="https://home.treasury.gov/news/press-releases/sb0146">Cartel de Noreste</a>. Deputy Secretary of the Treasury Michael Faulkender told The Daily Wire in an <a href="https://www.dailywire.com/news/exclusive-treasury-official-reveals-how-the-trump-admin-is-choking-off-cartels-cash-flow?author=Spencer+Lindquist&amp;category=News&amp;elementPosition=28&amp;row=0&amp;rowType=Vertical+List&amp;title=EXCLUSIVE%3A+Treasury+Official+Lays+Out+How+Trump+Is+Choking+Off+Cash+Flow+To+Cartels">exclusive interview</a> that the sanctions are a key tool in the Trump administration’s fight against the Mexican drug cartels.
“If the money is not flowing back south, then there’s less of an incentive to bring the drugs and the guns and some of the illicit activity up to the north,” he explained.

CJNG Graffiti

Treasury Dept Sanctions Five Key Leaders Of Mexican Drug Cartel

Border

cartel

Crime

Department of the Treasury

Drug Cartels

Fentanyl

Mexico

Treasury Department

World

The GOP-led Senate passed on Tuesday a stablecoin regulation bill that supporters argued will help the United States become the &#8220;global leader&#8221; in cryptocurrency.
A bipartisan group of 68 senators voted in favor of the <a href="https://www.congress.gov/bill/119th-congress/senate-bill/1582/text" target="_blank" rel="noopener">GENIUS Act</a>, which prevailed after hitting a <a href="https://www.dailywire.com/news/crypto-bill-falters-in-senate-for-now" target="_blank" rel="noopener">speed bump</a> in May before going through <a href="https://www.congress.gov/amendment/119th-congress/senate-amendment/2307" target="_blank" rel="noopener">amendments</a>. Another 30 members banded together in opposing the legislation.
Spearheaded by Sen. Bill Hagerty (R-TN), the measure seeks to create a framework for <a href="https://www.dailywire.com/news/white-house-gop-leaders-pledge-major-crypto-bills-in-first-100-days" target="_blank" rel="noopener">stablecoins</a>, which are significant in digital asset exchanges and pegged to stable assets such as the U.S. dollar.
&#8220;The GENIUS Act will cement U.S. dollar dominance, protect customers, drive demand for U.S. Treasuries, &amp; ensure that digital asset innovation happens in the U.S., not overseas,&#8221; Hagerty said in a post on X. &#8220;With this bill, we are one step closer to becoming the global leader in crypto.&#8221;
Sen. Elizabeth Warren (D-MA) was one of the lawmakers who voted against the bill. Sharing a Wall Street Journal article on how Walmart and Amazon are exploring their own stablecoins, she warned on Monday the legislation needed changes.
&#8220;If Congress doesn’t fix the GENIUS Act, billionaires like Elon Musk and Jeff Bezos could launch stablecoins that track your purchases, exploit your data, and squeeze out competitors,&#8221; Warren <a href="https://x.com/SenWarren/status/1934686958875246824" target="_blank" rel="noopener">said</a> on X. &#8220;These billionaires will come begging for a taxpayer bailout when it inevitably blows up.&#8221;
Warren <a href="https://x.com/SenWarren/status/1934686958875246824" target="_blank" rel="noopener">added</a>: &#8220;The GENIUS Act has a major loophole allowing Big Tech companies and major retailers to issue their own private currencies structured as stablecoins. This bill shouldn&#8217;t pass without amendments preventing these risks.&#8221;
President Donald Trump&#8217;s administration has endorsed the bill, which now heads to the Republican-controlled House.
&#8220;Recent reporting projects that stablecoins could grow into a $3.7 trillion market by the end of the decade. That scenario becomes more likely with passage of the GENIUS Act,&#8221; Treasury Secretary Scott Bessent <a href="https://x.com/SecScottBessent/status/1935027160374210573" target="_blank" rel="noopener">said</a> on X.
&#8220;A thriving stablecoin ecosystem will drive demand from the private sector for US Treasuries, which back stablecoins. This newfound demand could lower government borrowing costs and help rein in the national debt. It could also onramp millions of new users—across the globe—to the dollar-based digital asset economy,&#8221; Bessent continued.
Insisting that it is a &#8220;win-win-win&#8221; for the private sector, the Treasury, and consumers, Bessent concluded: &#8220;These are the fruits of smart, pro-innovation legislation.&#8221;

Sen. Bill Hagerty (R-TN) speaks with U.S. Treasury Secretary Scott Bessent

Senate Vote Pushes U.S. Toward Becoming ‘The Global Leader In Crypto’

Bill Hagerty

Cryptocurrency

Elizabeth Warren

Money

Technology

U.S. Senate

Wages for blue-collar workers are up more in the first five months of President Donald Trump’s second term than under any other president since 1969.
“Thanks to @POTUS’s pro-growth, America First policies, real wages for hourly workers are up nearly 2% in the first five months of @realDonaldTrump’s second term — the strongest growth in 60 years,” Treasury Secretary Scott Bessent said in a post on X.
Bessent’s post includes a graph showing 1.7% wage growth for blue-collar workers, defined as nonsupervisory and production workers, during the first five months of Trump’s second term. The next highest wage growth rate for those workers since 1969 came during Trump’s first term, when it hit 1.3% over the first five months.
“No president has done that before — except President Trump in his first term. Hardworking Americans and Main Street businesses have never had a stronger ally in the @WhiteHouse,” Bessent said.
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Thanks to <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>’s pro-growth, America First policies, real wages for hourly workers are up nearly 2% in the first five months of <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>’s second term — the strongest growth in 60 years.
No president has done that before — except President Trump in his first term.… <a href="https://t.co/gasjQn33eb">pic.twitter.com/gasjQn33eb</a>
&mdash; Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1934992476105818400?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote>
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The rise in the wages of blue-collar workers has <a href="https://www.dailywire.com/news/great-numbers-report-shows-no-significant-tariff-related-price-jumps-for-3rd-straight-month?author=Zach+Jewell&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=%E2%80%98Great+Numbers%21%E2%80%99%3A+Report+Shows+No+Significant+Tariff-Related+Price+Jumps+For+3rd+Straight+Month">coincided</a> with a decrease in inflation. Earlier this month, Consumer Price Index data from May showed that inflation has stayed somewhat steady since April. The report showed that inflation rose 2.4% last month after rising 2.3% in April.
The inflation data came in under economists’ expectations, which were set on a higher target because of tariffs’ expected impact on prices.
“CPI JUST OUT. GREAT NUMBERS! FED SHOULD LOWER ONE FULL POINT,” Trump posted on Truth Social at the time. “WOULD PAY MUCH LESS INTEREST ON DEBT COMING DUE. SO IMPORTANT!!!”
The White House is now pushing the One Big, Beautiful Bill to pass through Congress to “supercharge” the economy and provide fresh energy to some of the large-scale trends taking place, such as rising wages.
“The One Big Beautiful Bill will <a href="https://www.whitehouse.gov/wp-content/uploads/2025/03/Preserving-and-Expanding-Low-Tax-Rates-to-Create-American-Economic-Prosperity.pdf">raise</a> take-home pay between $7,800 and $13,300 for the average family of four. It will increase wages between $6,100 to $11,600 for the average worker,” Bessent <a href="https://x.com/RapidResponse47/status/1932808135863054443">told</a> Congress during a hearing last week.
Bessent has warned that the consequences for not passing the bill would be “cataclysmic.”
“It would be the largest tax hike in history. It would be a disaster for businesses, for working Americans, and for our status in the world,” he <a href="https://x.com/RapidResponse47/status/1932868781040136656">told</a> lawmakers. “We would see increases in taxes of thousands of dollars on working Americans, we would see businesses contract, and we would see a substantial increase in the unemployment rate.”

Houston construction site

Under Trump, Blue-Collar Wages Soar At Fastest Rate Since 1969

blue-collar

Economy

U.S.

Treasury Secretary Scott Bessent remarked on Thursday that a &#8220;new version of TDS&#8221; seems to have emerged, specifically targeting President Donald Trump&#8217;s tariff policies, and reminded Democrats that they lost the presidential election last year while defending the sitting administration&#8217;s economic policies.
Shorthand for &#8220;Trump Derangement Syndrome,&#8221; TDS refers to a phenomenon characterized by intense negative reactions to Trump, his actions, or his supporters. Republican lawmakers recently <a href="https://www.dailywire.com/news/gop-searches-patient-zero-trump-derangement-syndrome-new-bill" target="_blank" rel="noopener">introduced</a> a bill in the House to begin a study of its origins and identify potential solutions.
During a hearing on Capitol Hill, Sen. Ron Wyden (D-OR) <a href="https://x.com/RichSementa/status/1933185612636463228" target="_blank" rel="noopener">pressed</a> Bessent on whether American consumers are paying the tariffs amid Trump&#8217;s trade war with other countries after pointing out that the secretary himself <a href="https://www.dailywire.com/news/bessent-speaks-to-walmart-ceo-dismisses-draconian-forecast-on-tariffs" target="_blank" rel="noopener">conceded</a> nearly a month ago that retail giant Walmart could pass on price increases to consumers.
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&#8220;There seems to be a new version of TDS, which I would call Tariff Derangement Syndrome,&#8221; says <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>.
&#8220;Many on your side seem disappointed that there is no inflation &#8230; We saw the best inflation numbers since 2020, so there has been nothing passed on. There has been… <a href="https://t.co/KpYCPlUoA3">pic.twitter.com/KpYCPlUoA3</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1933174639531901157?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote>
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Bessent accused the Democrat of &#8220;cherry-picking&#8221; to suit a narrative. &#8220;Walmart makes decisions based on their customers&#8221; while he said two other large retailers, Amazon and Home Depot, have chosen not to pass along the cost of tariffs.
&#8220;There seems to be a new version of TDS, which I would call Tariff Derangement Syndrome, and many on your side seem disappointed that there is no inflation today,&#8221; Bessent <a href="https://x.com/RapidResponse47/status/1933174639531901157" target="_blank" rel="noopener">continued</a>. &#8220;As a matter of fact, we saw the best inflation numbers since 2020, so there has been nothing passed on. There has been no tariff recession. So no inflation, no recession due to tariffs.&#8221;
&#8220;Democrats are so out of touch and partisan that they refuse to acknowledge the President’s inflation wins and would actually prefer to see numbers rise,&#8221; Bessent <a href="https://x.com/SecScottBessent/status/1933183375227171099">wrote</a> in a post on X with a clip of his back-and-forth with Wyden.
At another point during the hearing, Bessent chided Sen. Michael Bennet (D-CO) during an exchange in which the Democrat lawmaker was loudly talking about tax cuts.
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.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> nukes <a href="https://twitter.com/SenatorBennet?ref_src=twsrc%5Etfw">@SenatorBennet</a> on President Trump&#8217;s tax cuts: &#8220;We had a referendum on November 5th on our economic policies. Your side lost.&#8221; <a href="https://t.co/MLQ3AbZ36P">pic.twitter.com/MLQ3AbZ36P</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1933175478455611657?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote>
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&#8220;Sir, we had a referendum on November 5th on &#8230; economic policies. Your side lost,&#8221; Bessent said.
The secretary kept going, but Bennet started to speak over him.
&#8220;I agree with that, and I&#8217;m a rare Democrat who doesn&#8217;t blame Donald Trump for winning,&#8221; Bennet exclaimed. &#8220;I&#8217;m sad he won.&#8221;
Bessent shot back, &#8220;A higher decibel level does not give your statements more veracity.&#8221;

Treasury Secretary Scott Bessent Testifies To Senate Finance Committee On Treasury Dept’s Budget

Bessent Identifies New Strain Of TDS, Reminds Dems They Lost The Election

Democrats

Inflation

Tariffs

Trade War

Trump Derangement Syndrome

Treasury Secretary Scott Bessent admitted he had to laugh when Rep. Richard Neal (D-MA) claimed that the Internal Revenue Service (IRS) had implemented updated technology in recent years.
During a Thursday hearing on Capitol Hill, Bessent fielded questions from a number of House members on the One Big, Beautiful Bill — and he said that while he had &#8220;great respect&#8221; for Neal, he couldn&#8217;t help but be amused by his assertions regarding supposed improvements at the IRS.
WATCH:
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🚨NEW—Treasury Secretary Scott Bessent FACT-CHECKS Democrat Richard Neal!
NEAL: &#8220;A professor at Yale has said that this [OBBB] will conservatively cause tens of thousands of unnecessary deaths!&#8221;
BESSENT: &#8220;I have great respect for you&#8230;But respectfully&#8230;I chuckled!&#8221;
&#8220;IT at… <a href="https://t.co/BEAFP9dfzN">pic.twitter.com/BEAFP9dfzN</a>
— Townhall.com (@townhallcom) <a href="https://twitter.com/townhallcom/status/1932812902416670948?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Neal began by claiming that improvements and &#8220;technological upgrades&#8221; were all thanks to former President Joe Biden&#8217;s Inflation Reduction Act, and that &#8220;cuts to Medicaid and SNAP&#8221; were going to lead to over a million lost jobs.
&#8220;A professor at Yale has said that this [OBBB] will conservatively cause tens of thousands of unnecessary deaths!&#8221; Neal continued. &#8220;Worse health care. Job losses. More borrowed money. The American people deserve considerably better than what we&#8217;re being told.&#8221;
Neal went on to &#8220;challenge&#8221; Bessent, saying that the minority side would work with the Trump administration if the bill would direct tax relief specifically to those making less than $400,000 in joint income.
<a href="https://get.dailywire.com/gift/?utm_medium=website&amp;utm_source=wisepops&amp;utm_campaign=dad&amp;utm_content=fathersdaygiftpopups" target="_blank" rel="noopener">Gift Dad an All Access Membership. Use code DAD40 at checkout to save 40%!</a>
&#8220;Mr. Neal &#8230; Representative Neal,&#8221; Bessent replied. &#8220;I have great respect for you. We&#8217;ve had great conversations, but respectfully, if I weigh a thousand pound and you weigh 50 and I gain ten pounds &#8230;&#8221;
Bessent attempted to explain how the 2017 tax cuts — which have been widely panned by Democrats — lowered taxes for lower income brackets and those with higher incomes shouldered much more of the burden.
&#8220;I can&#8217;t — I&#8217;m sorry, I chuckled when you talked about the IT at the IRS,&#8221; Bessent continued. &#8220;The program is 35 years behind schedule. 35 years. And is wasting $2 billion a year.&#8221;
&#8220;That&#8217;s why we put the extra money in!&#8221; Neal objected.
&#8220;No, no, no, no, no! The extra money went in for BODIES!&#8221; Bessent fired back. &#8220;And whistleblowers acknowledged that standards were being lowered to bring in new agents. Money is not the issue here. It is how the money is spent.&#8221;
&#8220;That&#8217;s exactly right, we agree on that,&#8221; Neal interjected. &#8220;How the money is spent.&#8221;
&#8220;And it has been spent poorly,&#8221; Bessent replied.

Treasury Sec Admits He ‘Chuckled’ When Democrat Boasted About Improvements At IRS

Joe Biden

Treasury

The audience attending a Capitol Hill hearing audibly <a href="https://x.com/RapidResponse47/status/1932825191752646817" target="_blank" rel="noopener">groaned</a> on Wednesday when a House Democrat suggested Treasury Secretary Scott Bessent had interrupted her because she is a woman.
Bessent attempted to push back against Rep. Linda Sanchez (D-CA) after the lawmaker said prices were rising for &#8220;many everyday goods&#8221; in the wake of the Trump administration&#8217;s trade war with other countries.
&#8220;No, congresswoman —,&#8221; Bessent interjected.
<blockquote class="twitter-tweet" data-media-max-width="560">
SHAMEFUL: <a href="https://twitter.com/RepLindaSanchez?ref_src=twsrc%5Etfw">@RepLindaSanchez</a> baselessly accuses <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> of being sexist because he tried to correct her lie that &#8220;prices are rising.&#8221;
FACT: Under <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>, Americans have seen the first overall price decline since 2020. <a href="https://t.co/mQUe0D9otw">pic.twitter.com/mQUe0D9otw</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1932825191752646817?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Bessent sought to continue, apparently pointing to the Consumer Price Index showing that inflation <a href="https://www.axios.com/2025/06/11/cpi-may-2025-trump-inflation?utm_campaign=editorial&amp;utm_medium=social&amp;utm_source=twitter" target="_blank" rel="noopener">slowed</a> in May, but Sanchez wasn&#8217;t having it.
&#8220;Please don&#8217;t interrupt me. The time is mine. The time is mine. Please don&#8217;t interrupt me,&#8221; Sanchez said. &#8220;I will ask you questions and I will grant you an opportunity to answer them, but please don&#8217;t interrupt me during my time.&#8221;
Bessent, who had stopped with his rebuttal, responded: &#8220;With pleasure.&#8221;
However, Sanchez kept going.
&#8220;I know I&#8217;m a woman, but please try to limit yourself to answering my questions,&#8221; Sanchez said.
An uproar of groans ensued, to which Sanchez replied, &#8220;No, I&#8217;m sorry but we get talked over all the time and I don&#8217;t want that to happen at this hearing.&#8221;
The blowback continued on social media.
The X account Libs of TikTok, run by Chaya Raichik, <a href="https://x.com/libsoftiktok/status/1932832882680344650" target="_blank" rel="noopener">said</a> Sanchez &#8220;pretends to be a victim of sexism after getting caught LYING about price increases.&#8221; American Majority founder and CEO Ned Ryan <a href="https://x.com/nedryun/status/1932864560978858247" target="_blank" rel="noopener">quipped</a>, &#8220;Suddenly Dems know what a woman is. Fascinating.&#8221;
The White House&#8217;s &#8220;Rapid Response&#8221; account on X also condemned Sanchez
&#8220;SHAMEFUL: [Sanchez] baselessly accuses [Bessent] of being sexist because he tried to correct her lie that &#8216;prices are rising,'&#8221; it <a href="https://x.com/RapidResponse47/status/1932825191752646817" target="_blank" rel="noopener">said</a>. &#8220;FACT: Under [President Donald Trump], Americans have seen the first overall price decline since 2020.&#8221;
Sanchez shot back at the White House.
&#8220;That&#8217;s not the truth. Even Fox News says that prices are rising due to Trump&#8217;s tariffs,&#8221; the Democrat <a href="https://x.com/RepLindaSanchez/status/1932841985951609345" target="_blank" rel="noopener">said</a> on X.
Sanchez linked to a Fox Business <a href="https://www.foxbusiness.com/economy/consumers-paying-costs-trumps-tariffs-new-york-fed" target="_blank" rel="noopener">article</a> on a Federal Reserve Bank of New York survey from early May that showed businesses saying that some or all the costs of higher tariffs were being passed on to consumers.

Rep. Linda Sanchez (D-CA)

Dem’s Sexism Jab At Treasury Secretary Bombs, Draws Groans During Hearing

Treasury Secretary Scott Bessent testified Wednesday to a congressional committee in favor of President Donald Trump’s “Big, Beautiful Bill,” saying it would be &#8220;cataclysmic&#8221; for lawmakers to let the package die.
Bessent&#8217;s remarks came in response to a question from House Ways and Means Subcommittee on Tax Chairman Mike Kelly (R-PA).
“Let’s go to what actually is going to happen if this bill doesn’t get passed,&#8221; Kelly asked Bessent. &#8220;How is it going to affect hardworking American taxpayers?”
&#8220;It would be cataclysmic,&#8221; Bessent <a href="https://x.com/RapidResponse47/status/1932868781040136656">responded</a>. &#8220;It would be the largest tax hike in history. It would be a disaster for businesses, for working Americans, and for our status in the world.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: If the One Big Beautiful Bill doesn&#39;t pass, &quot;it would be cataclysmic. It would be the largest tax hike in history. It would be a disaster for businesses, for working Americans, and for our status in the world.&quot; <a href="https://t.co/Aaihs72JyP">pic.twitter.com/Aaihs72JyP</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1932868781040136656?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Bessent&#8217;s warning comes as the Senate considers whether or not it will pass the bill, which passed the House by just one vote. Two House Republicans <a href="https://www.foxnews.com/politics/gop-holdouts-sound-alarm-36t-debt-crisis-trumps-big-beautiful-bill-passes-house-vote" target="_blank" rel="noopener">voted against</a> it. <a href="https://thehill.com/homenews/senate/5341080-republicans-debate-fiscal-deficit-cuts/" target="_blank" rel="noopener">Senate Republicans</a> seem divided on the bill, with  Senator Rand Paul of Kentucky notably <a href="https://thehill.com/homenews/senate/5314189-rand-paul-house-gop-budget-bill/" target="_blank" rel="noopener">expressing</a> his dissatisfaction with the bill’s debt ceiling.
Replying to Kelly, Bessent warned that if the bill does not pass, “We would see increases in taxes of thousands of dollars on working Americans. We would see business contract, and we would see a substantial increase in the unemployment rate.”
Proponents of the bill, which <a href="https://taxpolicycenter.org/features/2025-tax-cuts-tracker#:~:text=TAX%20CUTS-,Expiring%20TCJA%20Provisions,set%20to%20expire%20after%202025.&amp;text=Near%20doubling%20of%20the%20standard,State%20and%20local%20taxes%20(SALT)" target="_blank" rel="noopener">extends</a> the 2017 Tax Cuts and Jobs Act, argue that killing it threatens the national economy, while opponents claim that the bill only adds trillions to the national debt while reducing healthcare and nutrition benefits.
Kelly also asked Bessent to comment about what more can be done to move the economy in the right direction.
“The combination of small business and manufacturing, along with the President’s tax agenda for no tax on tips, no tax on overtime, a tax cut for seniors, and the ability to buy a new, American-made car and deduct the interest will solve this horrendous affordability crisis,&#8221; Bessent replied.
“The way to think about it, Congressman — we are dealing with two things here: we are dealing with affordability and we are dealing with inflation,” Bessent said.
“We are working to pull [affordability] down. That can be pulled down two ways: through price levels or [increasing] real wages. I think we can do both but the real fill-up here would be [to] increase real wages for working Americans.”
Later in the hearing, Representative David Kustoff of Tennessee reiterated Kelly’s concerns about the danger of killing the bill.
Bessent agreed, saying that, “I think it could set off a financial crisis the likes of which we have not seen since ‘08, ‘09.”

Senate Finance Committee Holds Confirmation Hearing For Scott Bessent

Not Passing ‘Big, Beautiful Bill’ Would Be ‘Cataclysmic,’ Treasury Secretary Warns

Budget

Rand Paul

Senate

The Trump administration on Monday placed new sanctions on a faction of the Sinaloa Cartel responsible for fentanyl production and trafficking.
The Treasury Department also <a href="https://home.treasury.gov/news/press-releases/sb0161">announced</a> sanctions on two sons of the notorious drug kingpin Joaquin “El Chapo” Guzman Loera. Guzman’s sons, Archivaldo Ivan Guzman Salazar and Jesus Alfredo Guzman Salazar, are “fugitive leaders” of the Los Chapitos, a faction of the Sinaloa Cartel that runs fentanyl factories and trafficking routes into the United States.
“Los Chapitos is a powerful, hyperviolent faction of the Sinaloa Cartel at the forefront of fentanyl trafficking into the United States,” said Treasury Secretary Scott Bessent. “At the Department of the Treasury, we are executing on President Trump’s mandate to completely eliminate drug cartels and take on violent leaders like ‘El Chapo’s’ children. Treasury is maximizing all available tools to stop the fentanyl crisis and help save lives.”
Los Chapitos has been identified as a top manufacturer of fentanyl pills through its many factories. Many of those pills are trafficked into the United States, fueling the U.S. drug trade and contributing to the tens of thousands of fentanyl overdose deaths in the United States every year.
The Sinaloa faction has also been linked to torture, extortion, and kidnapping, among other violent acts, and the turf wars it has fought against other drug cartels are believed to have taken hundreds of lives. The Sinaloa Cartel has also been linked to the 2024 killing of U.S. Marine Nicholas Quets in Sonora, Mexico.
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“The designation of the Sinaloa Cartel as a Foreign Terrorist Organization (FTO) was a vital first step in honoring Nicholas’ memory and protecting other Americans from suffering similar tragedies. It sends a clear message: Those who target U.S. citizens — no matter where they are — will face the full force of American resolve,” Quets&#8217; father, Doug Quets, said in a statement.
The Department of State has placed a $10 million bounty on each of the &#8220;fugitive leaders” of Los Chapitos. The drug kingpin’s other two sons, Ovidio Guzman Lopez and Joaquin Guzman Lopez, are in U.S. custody along with their father.
Ovidio was arrested in Mexico in 2023, extradited to the United States, and is facing charges in Chicago on money laundering, drug, and gun offenses. Federal authorities arrested Joaquin last year in Texas where he is being held on charges related to money laundering, drug trafficking, and other crimes.
“El Chapo” has been found guilty on dozens of charges in the United States and is serving out a life sentence at a supermax facility in Colorado. The drug lord previously escaped two high-security prisons in Mexico before he was taken into custody by U.S. authorities.

Joaquin “El Chapo” Guzman Loera

Trump Admin Sanctions Sons Of ‘El Chapo,’ Leaders Of Sinaloa Cartel’s Fentanyl Factories

Global Politics

Sinaloa Cartel

Governor Gavin Newsom is &#8220;threatening to commit criminal tax evasion,&#8221; Treasury Secretary Scott Bessent said on Sunday, amid an escalating war of words between California and the Trump administration.
The warning from Bessent came in response to Newsom recently <a href="https://x.com/GavinNewsom/status/1931087538565054849" target="_blank" rel="noopener">suggesting</a> that his state &#8220;cut&#8221; off the more than $80 billion &#8220;more in taxes than we get back&#8221; in response to a CNN <a href="https://www.cnn.com/2025/06/06/politics/trump-california-federal-funding" target="_blank" rel="noopener">report</a> with sources claiming President Donald Trump was preparing a broad cancellation of federal funding for California.
&#8220;Governor [Gavin Newsom] is threatening to commit criminal tax evasion. His plan: defraud the American taxpayer and leave California residents on the hook for unpaid federal taxes,&#8221; Bessent <a href="https://x.com/SecScottBessent/status/1931763599116030322" target="_blank" rel="noopener">said</a> in a thread posted on X.
&#8220;I am certain most California businesses know that failing to pay taxes owed to the Treasury constitutes tax evasion and have no intention of following the dangerous path Governor [Gavin Newsom] is threatening,&#8221; Bessent added. &#8220;I would warn state officials, including payroll managers, that federal law attaches personal liability to an &#8216;attempt to evade or defeat tax.'&#8221;
Newsom&#8217;s &#8220;comments are extremely reckless. Instead of committing criminal tax evasion, Governor Newsom should consider a tax plan for California that follows the Trump Tax Cuts model and reduces the onerous state tax burden to allow families to keep more of their hard-earned money,&#8221; Bessent concluded.
Bessent posted the thread as Newsom, a Democrat widely considered a potential candidate for the presidency, <a href="https://www.dailywire.com/news/deranged-behavior-gavin-newsom-declares-war-on-pete-hegseth-gets-more-than-he-bargained-for" target="_blank" rel="noopener">clashed</a> with President Donald Trump and Defense Secretary Pete Hegseth over troop deployments to California amid violent anti-ICE protests that have taken place in and around Los Angeles over the weekend.
After Hegseth said active-duty Marines at Camp Pendleton would be <a href="https://www.dailywire.com/news/pete-hegseth-puts-nearby-u-s-marines-on-high-alert-as-los-angeles-burns" target="_blank" rel="noopener">mobilized</a> to assist National Guardsmen if the chaos persists, Newsom accused the Defense Secretary of exhibiting &#8220;<a href="https://www.dailywire.com/news/deranged-behavior-gavin-newsom-declares-war-on-pete-hegseth-gets-more-than-he-bargained-for" target="_blank" rel="noopener">deranged behavior</a>&#8221; for &#8220;threatening to deploy active-duty Marines on American soil against its own citizens.&#8221;
In response, Hegseth said on X, &#8220;Deranged = allowing your city to burn &amp; law enforcement to be attacked. There is plenty of room for peaceful protest, but ZERO tolerance for attacking federal agents who are doing their job. The National Guard, and Marines if need be, stand with ICE.&#8221;

Secretary of the Treasury Scott Bessent

Newsom ‘Threatening’ Criminal Tax Evasion, Treasury Secretary Warns

California

Gavin Newsom

Pete Hegseth

Riots

Taxes

Trump Administration

Treasury Secretary Scott Bessent challenged CBS journalist Margaret Brennan on Sunday over the potential inflationary impact of President Donald Trump&#8217;s tariffs.
In a &#8220;Face the Nation&#8221; <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-06-01-2025/" target="_blank" rel="noopener">interview</a>, Brennan insisted &#8220;the reality is there will either be less inventory or things at higher prices, or both.&#8221; Bessent shot back, <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-03-02-2025/" target="_blank" rel="noopener">alluding</a> to a previous conversation they had in March, days before Trump unleashed his &#8220;Liberation Day&#8221; tariffs upon the world.
&#8220;Margaret, when we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation,&#8221; Bessent said. &#8220;Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this could happen, and wait and see what does happen.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;When we were here in March, you said there was going to be big inflation. There hasn&#8217;t been any inflation. Actually, the inflation numbers are the best in four years. So why don&#8217;t we stop trying to say this COULD happen — wait and see what DOES happen.&#8221; 🔥 <a href="https://t.co/1LeTZf2UX1">pic.twitter.com/1LeTZf2UX1</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929188418249965629?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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Earlier, Brennan told Bessent that when he was on the program in March, the two of them were &#8220;trying to gauge&#8221; how American consumers might be affected by the tariffs. She then asked the Cabinet official where he is anticipating price increases.
&#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret. And thus far, there have been no price increases. Everything has been alarmist,&#8221; Bessent said, adding that the &#8220;inflation numbers are actually dropping.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;We wanted to make sure that there aren&#8217;t price increases, Margaret — and thus far, there have been no price increases. Everything has been alarmist. The inflation numbers are actually dropping. We saw the first drop in inflation in four years.&#8221; <a href="https://t.co/asuc8YnHYZ">pic.twitter.com/asuc8YnHYZ</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1929187165830869432?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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A couple of weeks ago, the Labor Department <a href="https://www.dailywire.com/news/inflation-hits-lowest-point-in-over-4-years-as-april-report-better-than-expected" target="_blank" rel="noopener">released</a> data showing that inflation hit its lowest point — 2.3% — in four years, as Trump pursues trade deals with China and other countries hit by tariffs.
Brennan pressed Bessent on retailers such as Walmart, Best Buy, and Target <a href="https://www.cnbc.com/2025/05/31/trump-tariffs-here-are-the-retailers-raising-prices.html" target="_blank" rel="noopener">raising prices</a>. In response, Bessent noted that other companies, including <a href="https://www.axios.com/2025/05/20/home-depot-stock-prices-tariffs" target="_blank" rel="noopener">Home Depot</a> and Amazon, have taken a different tack. And he pointed out, &#8220;I know what the South China Morning Post wrote within the past 24 hours that 65% — 65%! — of the tariffs will likely be eaten by the Chinese producers.&#8221;
&#8220;So are there five or eight areas that you have identified, as you said back in March, where American consumers will be able to have lower prices, or should be warned of higher prices?&#8221; Brennan asked.
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&#8220;Well, a lot of it&#8217;s already working its way through the system,&#8221; Bressent replied. &#8220;So we&#8217;ve seen a substantial decrease in gasoline and energy prices. So that&#8217;s down 20% year over year. We&#8217;ve seen the food prices go down, these notorious egg prices. Through the good work of President Trump and [Agriculture] Secretary [Brooke] Rollins, egg prices have collapsed. So we&#8217;re seeing more and more.&#8221;
He added: &#8220;And what we want to do is even that out across all sections of the economy. So inflation has been very tame. Consumer earnings were up 0.8% last month, which is a gigantic increase for one month. So real earnings minus low inflation is great for the American people, and that&#8217;s what we&#8217;re seeing.&#8221;
Brennen also questioned Bessent about the &#8220;One Big, Beautiful Bill&#8221; that passed through the GOP-led House and is now under consideration by the Republican-controlled Senate.
&#8220;In it is increase or suspension to the debt limit that you need delivered on by mid-July. How close of a brush with default could this be, given how massive some of the Senate changes are expected to be to the other parts of the bill?&#8221; Brennan asked.
&#8220;Well, first of all, Margaret, I will say the United States of America is never going to default. That is never going to happen. &#8230; We are on the warning track and we will never hit the wall,&#8221; Bessent said, adding later, &#8220;We don&#8217;t give out the X date because we use that to move the bill forward.&#8221;
<iframe loading="lazy" title="Scott Bessent &quot;confident&quot; U.S.-China trade details &quot;will be ironed out&quot; when Trump, Xi talk" width="500" height="281" src="https://www.youtube.com/embed/jTK0fDt9K78?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

US Treasury Secretary Scott Bessent Interview

Treasury Secretary Busts ‘Alarmist’ Inflation Predictions

CBS News

Margaret Brennan

Treasury Secretary Scott Bessent argued on Friday that the country&#8217;s massive debt can be controlled by growing the U.S. economy.
Bessent addressed concerns over President Donald Trump&#8217;s &#8220;Big, Beautiful Bill&#8221; adding to the national deficit during a segment with Fox News host Bill Hemmer. A Congressional Budget Office <a href="https://www.cbo.gov/system/files/2025-05/61422-Reconciliation-Distributional-Analysis.pdf" target="_blank" rel="noopener">report</a> released earlier this week said the Republican bill passed by the House on early Thursday morning will add $3.8 trillion to the deficit over the next decade. The national debt is <a href="https://www.usdebtclock.org/index.html" target="_blank" rel="noopener">rapidly approaching</a> $37 trillion as the federal deficit currently sits at over $2 trillion.
&#8220;We think that we can both grow the economy and control the debt,&#8221; Bessent said. &#8220;And what&#8217;s important, Bill, is that the economy grows faster than the debt.&#8221;
He added that Americans should focus on the debt-to-GDP ratio &#8220;because we can grow our way out of this.&#8221; In December, U.S. debt accounted for <a href="https://www.ceicdata.com/en/indicator/united-states/government-debt--of-nominal-gdp#:~:text=United%20States%20Government%20Debt:%20%25%20of%20GDP,-1969%20%2D%202024%20%7C%20Quarterly&amp;text=United%20States%20Government%20debt%20accounted,Mar%201969%20to%20Dec%202024." target="_blank" rel="noopener">124%</a> of the nation&#8217;s nominal GDP, which was down from the all-time high of 130.4% in March of 2021.
&#8220;If we change the growth trajectory of the country, of the economy, then we will stabilize our finances and grow our way out of this,&#8221; Bessent continued.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &quot;What&#39;s important is that the economy grows faster than the debt&#8230; If we change the growth trajectory of the country, of the economy, then we will stabilize our finances and grow our way out of this.&quot; <a href="https://t.co/aplXNS5mLP">pic.twitter.com/aplXNS5mLP</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1925907334640865476?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
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The approach touted by Bessent focuses on reducing taxes, a major part of Trump&#8217;s &#8220;Big, Beautiful Bill.&#8221; The idea is that lower taxes and deregulation will create a thriving economy and boost manufacturing, sales, and consumer spending, which will in turn increase tax revenue without raising taxes.
Last year, however, the Congressional Budget Office <a href="https://www.cbo.gov/publication/59711" target="_blank" rel="noopener">projected</a> that the deficit would continue to outpace economic growth over the next 30 years.
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&#8220;The deficit increases significantly in relation to gross domestic product (GDP) over the next 30 years, reaching 8.5 percent of GDP in 2054,&#8221; the office stated. &#8220;That growth results from rising interest costs and large and sustained primary deficits, which exclude net outlays for interest.&#8221;
During the 2024 campaign, Bessent said that his goal is to &#8220;cut the deficit to 3% by 2028; achieve 3% real economic growth, largely through deregulation; and then add 3 million new barrels of energy per day.&#8221; He told <a href="https://www.bloomberg.com/news/articles/2024-08-07/five-questions-for-trump-adviser-and-key-square-group-founder-scott-bessent?sref=17aozLHf" target="_blank" rel="noopener">Bloomberg</a> that Trump is concerned about addressing the national debt and wants to get it under control &#8220;without causing a recession.&#8221;
Some conservative Republicans raised concerns about Trump&#8217;s &#8220;Big, Beautiful Bill&#8221; not doing enough to cut back on government spending. Two House Republicans, Reps. Thomas Massie of Kentucky and Warren Davidson of Ohio, <a href="https://www.foxnews.com/politics/gop-holdouts-sound-alarm-36t-debt-crisis-trumps-big-beautiful-bill-passes-house-vote" target="_blank" rel="noopener">voted against</a> the legislation, citing the federal deficit.
&#8220;While I love many things in the bill, promising someone else will cut spending in the future does not cut spending. Deficits do matter and this bill grows them now. The only Congress we can control is the one we’re in. Consequently, I cannot support this big deficit plan. NO,&#8221; Davidson said on Thursday.
The White House called the two GOP congressmen &#8220;grandstanders.&#8221;
&#8220;I don&#8217;t think he likes to see grandstanders in Congress,&#8221; White House Press Secretary Karoline Leavitt said of Trump&#8217;s thoughts on Massie and Davidson. &#8220;What&#8217;s the alternative? I would ask those members of Congress. Did they want to see a tax hike? Did they want to see our country go bankrupt? That&#8217;s the alternative by them trying to vote ‘no.’ The president believes the Republican Party needs to be unified.&#8221;
In the Senate, the bill faces more hurdles as multiple Republicans have raised concerns on numerous topics. Sen. Rand Paul (R-KY) <a href="https://thehill.com/homenews/senate/5314189-rand-paul-house-gop-budget-bill/" target="_blank" rel="noopener">said</a> he will vote against the bill unless they &#8220;take the debt ceiling off of it.&#8221;
“We’ve never, ever voted to raise the debt ceiling this much. It’ll be a historic increase. I think it’s not good for conservatives to be on record supporting a $4 [trillion] or $5 trillion increase in the debt ceiling,” Paul said.

Bessent Says U.S. Can ‘Grow Our Way Out Of’ National Debt Crisis By Focusing On Economy

Debt Ceiling

National Debt

spending

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