Treasury Secretary Scott Bessent said on Friday that he&#8217;s working to cut off federal benefits to people in the United States illegally, emphasizing that those benefits should be preserved for American citizens.
&#8220;At [President Donald Trump]&#8216;s direction, we are working to cut off federal benefits to illegal aliens and preserve them for U.S. citizens,&#8221; Bessent posted to X on Friday. 
&#8220;[The United States Treasury] announced that it will issue proposed regulations clarifying that the refunded portions of certain individual income tax benefits are no longer available to illegal and other non-qualified aliens, covering the Earned Income Tax Credit, the Additional Child Tax Credit, the American Opportunity Tax Credit, and the Saver’s Match Credit,&#8221; he explained.
<blockquote class="twitter-tweet">
At <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>&#8216;s direction, we are working to cut off federal benefits to illegal aliens and preserve them for U.S. citizens.<a href="https://twitter.com/USTreasury?ref_src=twsrc%5Etfw">@USTreasury</a> announced that it will issue proposed regulations clarifying that the refunded portions of certain individual income tax benefits… <a href="https://t.co/pn2MXoxDHC">https://t.co/pn2MXoxDHC</a>
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1994478437042438573?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote>
Bessent&#8217;s announcement was made in response to President Donald Trump declaring on Thanksgiving that he would <a href="https://www.dailywire.com/news/in-blistering-thanksgiving-post-trump-promises-to-stop-migration-from-all-third-world-countries">pause all migration from third-world countries</a>.
Trump also promised to “end all Federal benefits and subsidies to noncitizens of our Country, denaturalize migrants who undermine domestic tranquility, and deport any Foreign National who is a public charge, security risk, or non-compatible with Western Civilization.”
Americans&#8217; generosity, Trump said, has been weaponized, allowing a vast foreign-born population to overwhelm the country and inflict deep social harm.
Trump said the U.S. now hosts a “foreign population” of 53 million, citing census data, and charged that many recent arrivals depend on taxpayer-supported welfare programs while coming from “failed nations, or from prisons, mental institutions, gangs, or drug cartels.”
<blockquote class="twitter-tweet">
A very Happy Thanksgiving salutation to all of our Great American Citizens and Patriots who have been so nice in allowing our Country to be divided, disrupted, carved up, murdered, beaten, mugged, and laughed at, along with certain other foolish countries throughout the World,…
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1994272683387687053?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote>
In a separate post, Bessent stressed that illegal immigrants have &#8220;no place in our financial system.&#8221;
&#8220;Illegal aliens that use our financial institutions to move their illicitly obtained funds is exploitation, and it will end,&#8221; he said.
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> is right—if you’re here illegally, there’s no place for you in our financial system.
Illegal aliens that use our financial institutions to move their illicitly obtained funds is exploitation, and it will end.<a href="https://t.co/mIy7fFWWNw">https://t.co/mIy7fFWWNw</a>.
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1994480159093572067?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote>
This past week, it was uncovered that billions of taxpayer dollars have been stolen in Minnesota, during the tenure of Democrat Gov. Tim Walz. The money was reportedly funneled through fake nonprofits and shell companies, and — alarmingly — some of that money <a href="https://www.city-journal.org/article/minnesota-welfare-fraud-somalia-al-shabaab">has ended up in the hands</a> of the al-Qaeda-linked terrorist group Al-Shabaab, <a href="https://www.dailywire.com/news/minnesotas-somali-welfare-fraud-taxpayer-cash-funneled-to-terrorist-group?author=Hank+Berrien&amp;category=News&amp;elementPosition=0&amp;row=0&amp;rowType=Vertical+List&amp;title=Minnesota%E2%80%99s+Somali+Welfare+Fraud%3A+Taxpayer+Cash+Funneled+To+Terrorist+Group">The Daily Wire</a> reported.
Much of the fraud has been traced to Minnesota’s Somali community, where politically connected fraudsters have allegedly exploited numerous loopholes in the state’s welfare system.
Additionally, though illegals are technically banned from being direct recipients of <a href="https://www.dailywire.com/news/yes-millions-of-illegals-are-receiving-food-stamps?author=Amanda+Prestigiacomo&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=Yes%2C+Millions+Of+Illegals+Are+Receiving+Food+Stamps">Supplemental Nutrition Assistance Program (SNAP) benefits</a> and some healthcare benefits, reports indicate millions of illegals receive these taxpayer-funded benefits.
Related: <a href="https://www.dailywire.com/news/in-blistering-thanksgiving-post-trump-promises-to-stop-migration-from-all-third-world-countries">In Blistering Thanksgiving Post, Trump Promises To Stop Migration From ‘All Third World Countries’</a>

Illegal immigrants

Treasury Sec: We’re Cutting Off Benefits To Illegals, They Belong To Americans

Donald Trump

Illegal Immigration

Scott Bessent

Welfare

President Donald Trump on Monday signed an executive order laying the groundwork for his administration to designate chapters of the Muslim Brotherhood as terrorist organizations. 
The executive order directed Secretary of State Marco Rubio and Treasury Secretary Scott Bessent to begin preparing to designate chapters of the organization in Lebanon, Jordan, and Egypt as Foreign Terrorist Organizations and Specially Designated Global Terrorists. Rubio and Bessent now have 30 days to submit a report on the designation of any Muslim Brotherhood chapters and 45 days to officially designate the chapters as terrorist organizations. 
The Muslim Brotherhood, a group founded in Egypt in 1928, has been linked to violent groups across the Middle East, including Hamas. 
“Its chapters in Lebanon, Jordan, and Egypt engage in or facilitate and support violence and destabilization campaigns that harm their own regions, United States citizens, and United States interests,” Trump wrote in the executive order. “A senior leader of the Egyptian chapter of the Muslim Brotherhood, on October 7, 2023, called for violent attacks against United States partners and interests, and Jordanian Muslim Brotherhood leaders have long provided material support to the militant wing of Hamas.”
The executive order also noted that the Muslim Brotherhood’s military wing in Lebanon joined Hamas and Hezbollah in launching rockets into Israel in the aftermath of the October 7 attacks.
“Such activities threaten the security of American civilians in the Levant and other parts of the Middle East, as well as the safety and stability of our regional partners,” Trump wrote. 
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<a href="https://www.whitehouse.gov/fact-sheets/2025/11/fact-sheet-president-donald-j-trump-begins-process-to-designate-certain-muslim-brotherhood-chapters-as-foreign-terrorist-organizations-and-specially-designated-global-terrorists/">According</a> to the White House, the order&#8217;s “ultimate aim is to eliminate the designated chapters’ capabilities and operations, deprive them of resources, and end any threat such chapters pose to U.S. nationals and the national security of the United States.” 
Trump <a href="https://justthenews.com/politics-policy/all-things-trump/trump-says-he-will-designate-muslim-brotherhood-terrorist">previewed</a> the executive order on Sunday, telling Just the News that the final documents were being drawn up and that the action “will be done in the strongest and most powerful terms.”
Republicans in the House and Senate have <a href="https://www.dailywire.com/news/cruz-introduces-bill-to-name-muslim-brotherhood-a-terrorist-group">long pushed</a> for the Muslim Brotherhood to be designated as a terrorist organization. Last week, Texas Republican Governor Greg Abbott designated the Muslim Brotherhood, alongside the Council on American-Islamic Relations (CAIR), as foreign terrorist organizations.

President Trump Holds Press Conference With FBI Director Kash Patel

Trump Signs Executive Order Targeting The Muslim Brotherhood

Executive Orders

Hamas

Marco Rubio

Muslim Brotherhood

Politics

Terrorism

Treasury Secretary Scott Bessent said on Sunday that the Trump administration’s economic strategy is centered on fixing “the three I&#8217;s: immigration, interest rates, and inflation,&#8221; adding that Americans are traumatized by Biden-era inflation.
“One thing we’re not going to do is what the Biden administration did — tell the American people they don’t know how they feel,” Bessent said. “They are traumatized by Biden-era inflation. We’ve slowed it, and we’re working very hard to bring it down.”
Bessent argued that immigration has been a major driver of high housing costs and wage stagnation. With the border closed and deportations underway, he expects home prices to fall and wages to rise. He pointed to October’s strong housing data as evidence, with home sales reaching their highest level in three years.
“The prices get better,” he said. “Energy prices, gasoline are down, we believe health care is going to come down. This will be the lowest cost for a Thanksgiving dinner in four years. Turkey prices are down 16%.”
While inflation ticked up to 3% from its 2.3% low earlier this year, Bessent insisted it remains under control. He noted that Federal Reserve Chair Jerome Powell has lowered interest rates by 0.50% this year and have another rate cut on the table for December.
Bessent credited the president’s peace agreements, tax reforms, and new trade deals as key drivers of future affordability. His remarks come days after Vice President JD Vance called on Americans to have “a little bit of patience” with the Trump administration’s economic strategy.
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Recent criticism has focused on rising prices for certain food products. NBC’s Kristen Welker asked Scott Bessent if the administration’s rollback on tariffs proves Trump’s trade policies are raising consumer costs.
Bessent dismissed the argument, saying inflation “is a composite number” with many moving parts, meaning overall inflation can remain stable even as some products fluctuate. He predicted broader price declines once United States Trade Representative Jamieson Greer finalizes new agreements in Latin America.
He also pointed to last week’s rollback on tariffs for more than 200 food products as proof that the White House is “pushing down the prices they can control,” rejecting claims that tariffs hurt consumers.
“Some prices will come down in weeks, some in months,” he said.
With major trade deals nearing completion, foreign peace negotiations wrapping up, and the One Big, Beautiful Bill tax reforms in place, Bessent said he is “optimistic for 2026.”

President Trump Signs Executive Order In The Oval Office

Bessent: Trump Admin Targeting ‘Three I’s’ To Restore Affordability

Economy

Tariffs

Thanksgiving

Trump Administration

Treasury Secretary Scott Bessent suggested that Republicans should end the filibuster if the Democrats attempt to once again shut down the government in January.
Speaking with Kristen Welker of NBC’s “Meet the Press” on Sunday, Bessent was asked about the viability of ending the filibuster.
“You call for an end to the filibuster. In the past, leader Thune has said that it&#8217;s just not happening. There aren&#8217;t the votes. Mr. Secretary, do you believe that you have enough votes, that the president has enough votes to get rid of the filibuster?” Welker asked.
Bessent responded, saying that his editorial, which was published in The Washington Post on Sunday, was designed to “put the Senate on notice.”
“The Democrats kept the government shut down — and Ezra Klein in The New York Times took the mask off. He said this wasn&#8217;t about health care; this was about stopping totalitarianism. The Democrats haven&#8217;t been able to stop President Trump in the courts; they haven&#8217;t been able to stop him in the media, so they had to harm the American people — 1.5% hit to GDP, $11 billion permanent hit. They don&#8217;t care. So I believe that Senate Democrats, if Senate Democrats close the government again, Senate Republicans should immediately abrogate the filibuster,” the Treasury secretary stated.
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;If Senate Democrats close the government again [on January 30], then Senate Republicans should immediately abrogate the filibuster.&#8221; <a href="https://t.co/IXTzdKMDwN">https://t.co/IXTzdKMDwN</a> <a href="https://t.co/XqJNXuJeNo">pic.twitter.com/XqJNXuJeNo</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1992611413903159675?ref_src=twsrc%5Etfw">November 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
In his Washington Post <a href="https://www.washingtonpost.com/opinions/2025/11/23/scott-bessent-treasury-senate-republicans-filibuster/">editorial</a>, Bessent laid out the history of the filibuster, arguing that it is a relic that no longer serves its intended purpose. “Today, the minority party can abuse the filibuster to the point of rendering the Senate almost useless as a deliberative body,” he wrote.
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“Some Republicans hesitate to end the filibuster out of fear that Democrats will one day use that same power against them,” Bessent noted. “But Democrats will use that power against them whether Republicans end the filibuster or not. GOP senators who defend the filibuster are ignoring basic game theory. As the classic prisoner’s dilemma shows us, in a repeated game, the player who always cooperates while the opponent who always betrays is doomed to lose.”

Bessent: Republicans Must Nuke Filibuster If Dems Attempt Shutdown Again

Congress

Democratic Party

Filibuster

Government Shutdown

Republican Party

U.S. Senate

Treasury Secretary Scott Bessent said on Sunday that the economy isn’t headed for a large-scale recession, despite certain sectors showing recessionary signs.
Speaking with Kristen Welker of NBC’s “Meet the Press,” Bessent was asked about the health of the economy.
“Big picture, Mr. Secretary, you said earlier this month, I&#8217;m going to quote you, ‘I think there are sectors of the economy that are in a recession.’ Kevin Hassett, Director of the National Economic Council, said: ‘We’re starting to see pockets of the economy that look like they might be in a recession.’ Which parts of the economy do you believe have dipped into a recession?” Welker asked.
“Well, clearly housing has been struggling … so interest rate-sensitive sectors have been in a recession,” Bessent replied.
The secretary then noted that the Democrat-led 43-day government shutdown wasn’t helpful to the economy, with nearly 10,000 flights canceled and a 1.5% hit to GDP.
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Welker pressed, asking if the entire country was at risk of entering a recession.
“No, I am very confident about 2026 because what we are going to see is the president has done peace deals, tax deals, and trade deals. The One Big, Beautiful Bill — and to go back to affordability, [it] has two components, so it&#8217;s price of goods and real incomes. So under the One Big, Beautiful Bill, especially for working Americans, no tax on tips, no tax on overtime, no tax on Social Security, auto deductibility on loans for American cars — that’s all kicking in,” Bessent said.
He also said that when Americans change their withholding, there will be “substantial refunds to working families in the first quarter of 2026.”
“I am very, very optimistic on 2026. We have set the table for a very strong, non-inflationary growth economy,” Bessent concluded.
<blockquote class="twitter-tweet" data-media-max-width="560">
Sec. Scott Bessent says big growth is coming in the Trump economy into 2026 <a href="https://t.co/64LP1f72k1">pic.twitter.com/64LP1f72k1</a>
— Breaking911 (@Breaking911) <a href="https://twitter.com/Breaking911/status/1992612226897940744?ref_src=twsrc%5Etfw">November 23, 2025</a></blockquote>
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White House To Ratchet Up Russia Sanctions, Bessent Says

Bessent ‘Very Optimistic’ On U.S. Economy In 2026 Despite Recession Fears

Meet the Press

Recession

Treasury Secretary Scott Bessent promised on Wednesday that relief is coming to Americans at the grocery store, as the Trump administration plans to make &#8220;substantial announcements&#8221; on foreign food imports in the coming days.
During an interview with &#8220;<a href="https://www.foxbusiness.com/video/6385001023112">Fox &amp; Friends</a>&#8221; co-host Brian Kilmeade, Bessent predicted that Americans would soon feel much better about their finances and hinted that certain grocery store items would be coming down in price.
&#8220;When you look at affordability now, and you go grocery shopping, for example, what products are you working on bringing down?&#8221; Kilmeade asked. &#8220;We know that certain products are down, certain [products] are up. For example, coffee. The president said, &#8216;I&#8217;m going to lower tariff rates on Brazil and Vietnam and other places to try to bring the price of coffee down.&#8217; What else do you do?&#8221;
&#8220;Well, it&#8217;s tough to do a lot of specific things, but I can tell you that you&#8217;re going to see substantial announcements over the next couple of days in terms of things we don&#8217;t grow here in the United States,&#8221; Bessent replied. &#8220;Coffee being one of them. Bananas, other fruits, things like that. So that will bring the prices down very quickly.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
Sec. Scott Bessent: &#8220;You&#8217;re going to see substantial announcements over the next couple of days in terms of things we don&#8217;t grow here&#8230; coffee being one of them, bananas, other fruits&#8230; That will bring the prices down very quickly.&#8221; <a href="https://t.co/OlwFniutbk">pic.twitter.com/OlwFniutbk</a>
— Breaking911 (@Breaking911) <a href="https://twitter.com/Breaking911/status/1988616150398214379?ref_src=twsrc%5Etfw">November 12, 2025</a></blockquote>
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Bessent&#8217;s comments are a rare moment in which the Trump administration appears to acknowledge that tariffs have negatively affected Americans&#8217; wallets in some circumstances. Last week, President Donald Trump also <a href="https://www.reuters.com/world/us/trump-shift-acknowledges-americans-are-paying-something-tariffs-2025-11-06/">admitted</a> that Americans are &#8220;paying something&#8221; due to his tariffs, adding, &#8220;But when you take the overall impact, the Americans are gaining tremendously.&#8221;
The average price of coffee in the United States has spiked in recent months after the Trump administration imposed hefty tariffs on countries around the world, including the leading coffee exporters. In September, the average price for a pound of ground coffee rose 3% from the previous month and jumped 41% from September 2024, the Associated Press <a href="https://apnews.com/article/coffee-prices-tariffs-climate-3503a37a8fc95b7dc5a1f29747c81e27">reported</a>. That increase has caused some coffee shops and grocery stores to hike prices. Banana prices have also risen slightly following the rollout of Trump&#8217;s tariffs.
Bessent said that the Trump administration is seeking to fix an &#8220;affordability mess&#8221; that began under former President Joe Biden.
&#8220;It was the worst inflation in 40-50 years, one of the worst in the nation&#8217;s history,&#8221; the Treasury Secretary added.
Bessent said the administration is working to address both affordability components: prices and income. He argued that by the first quarter of next year, Americans will see prices decline while their wages rise.
&#8220;You are going to feel it,&#8221; Bessent said, adding, &#8220;I think 2026 is going to be a blockbuster year.&#8221;
Trump&#8217;s tariffs are currently hanging in the balance as the Supreme Court considers whether the president can use his broad authority over foreign policy to impose tariffs on countries worldwide. Last week, the Supreme Court heard oral arguments on the case, with multiple conservative justices appearing skeptical of the president’s authority.

Scott Bessent/Grocery Store

Bessent Promises Major Food Import Moves To Cut Grocery Prices ‘Very Quickly’

Economics

Food prices

Treasury Secretary Scott Bessent flipped the script on Democratic adviser-turned-ABC News anchor George Stephanopoulos during a Sunday morning interview, reminding him of what he&#8217;d said about the government shutdowns that took place in 1995 when his old boss, former President Bill Clinton, had been at odds with a Republican-controlled Congress led by then House Speaker Newt Gingrich (R-GA).
Bessent joined Stephanopoulos to talk about the ongoing shutdown — driven by Democrat demands for a blanket extension of 2022 Obamacare subsidies that were designed to assist with shortfalls due to the COVID-19 pandemic and then sunset  after three years — and the conversation centered on how best to bring an end to the shutdown that has now lasted nearly 40 days.
WATCH:
<blockquote class="twitter-tweet">
When <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> reminded George Stephanopoulos “you were involved in a lot of these in the &#8217;90s. And you basically called the Republicans terrorists and, you know, you said that it is not the responsible party that keeps the government closed,” Stephanopoulos tried to shut… <a href="https://t.co/LhcfQ2KHq9">pic.twitter.com/LhcfQ2KHq9</a>
— Brent Baker 🇺🇲🇺🇦 🇮🇱 (@BrentHBaker) <a href="https://twitter.com/BrentHBaker/status/1987525865148752016?ref_src=twsrc%5Etfw">November 9, 2025</a></blockquote>
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&#8220;The president continues to post about ending the filibuster,&#8221; Stephanopoulos began. &#8220;Is that the best way to end this shutdown right now? Is that what the administration position is?&#8221;
&#8220;No, George, the best way to do it — and look, you were involved in a lot of these in the &#8217;90s. And you basically called the Republicans terrorists and, you know, you said that it is not the responsible party that keeps the government closed,” Bessent replied. &#8220;And so what we need is five brave moderate Democratic Senators to cross the aisle, because right now it is 52 to three — 52 to three — five Democrats can cross the aisle and reopen the government. That&#8217;s the best way to do it, George.&#8221;
&#8220;I can disagree with you about the history there,&#8221; Stephanopoulos said with a half smile. &#8220;We don&#8217;t have to get into a history lesson right now —&#8221;
&#8220;George —&#8221; Bessent tried to push back.
&#8220;Let&#8217;s talk about —&#8221; Stephanopoulos interrupted. &#8220;Let&#8217;s talk about what&#8217;s happening right now.&#8221;
&#8220;If you want, I&#8217;ve got all your quotes here,&#8221; Bessent offered.
&#8220;I&#8217;m sure you do, but let&#8217;s talk about the situation —&#8221; Stephanopoulos tried again.
&#8220;I read your book, so you got one purchase on Amazon this week,&#8221; Bessent quipped. &#8220;And that&#8217;s very much what you said.&#8221;
&#8220;That’s a mischaracterization of history,&#8221; Stephaopoulos claimed.
However, during a <a href="https://www.pbs.org/wgbh/pages/frontline/shows/clinton/interviews/stephanopoulos.html">PBS interview</a> conducted in the summer of 2000, Stephanopoulos used almost the exact words quoted by Bessent to describe the White House&#8217;s strategy — of which he was an integral part — to fight congressional Republicans during the 1995 government shutdowns that lasted five days (November 14-19) and 21 days (December 16, 1995-January 6, 1996) respectively.
The question presented to Stephanopoulos was a simple one: &#8220;In the fall of 1995, the government shutdown is dominating the government at this time. The president is doing some real brinkmanship. What was the strategy with the Republicans in the fall of 1995?&#8221;
&#8220;Our strategy was very simple,&#8221; Stephanopoulos replied. &#8220;We couldn&#8217;t buckle, and we had to say that they were blackmailing the country to get their way. In order to get their tax cut, they were willing to shut down the government, throw the country into default for the first time in its history and cut Medicare, Social Security, education and the environment just so they could get their way. And we were trying to say that they were basically terrorists, and it worked.&#8221;

GEORGE STEPHANOPOULOS

Scott Bessent Flips Shutdown On Former Clinton Adviser George Stephanopoulos

ABC News

Bill Clinton

George Stephanopoulos

Media

This Week

Treasury Secretary Scott Bessent said on Sunday that all it would take for SNAP users to receive their benefits would be for five Democrats to “cross the aisle and reopen the government.”
Appearing on CNN’s “State of the Union” with Jake Tapper, Bessent was asked about the Supplemental Nutrition Assistance Program (SNAP) crisis impacting 42 million Americans.
After noting that President Trump needs to “hear from the courts” on a potential use of contingency funds to supplement SNAP as the government shutdown wears on, Bessent said the ball is in Democrats’ court.
“As you know, the best way for SNAP benefits to get paid is for Democrats, five Democrats, to cross the aisle and reopen the government, right?” the Treasury Secretary said.
“But there is this contingency fund, and as recently as September 30, the Agricultural Department had a memo saying that these funds, the contingency funds, I think it&#8217;s about $5 or $6 billion, could be used to pay these benefits — now it&#8217;d only be two or three weeks, but that&#8217;s a lot for people who need the who need the food,” Tapper said.
Bessent again noted that Trump is waiting on the courts, but “Democrats are in the middle of a civil war, and they should just open the government. That is the easiest way to do this.”
<blockquote class="twitter-tweet">
Sec. Scott Bessent: &#8220;The best way for SNAP benefits to get paid is for five Democrats to cross the aisle and reopen the government.&#8221; <a href="https://t.co/nUrGHGcTCe">pic.twitter.com/nUrGHGcTCe</a>
— Breaking911 (@Breaking911) <a href="https://twitter.com/Breaking911/status/1984989657784816067?ref_src=twsrc%5Etfw">November 2, 2025</a></blockquote>
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Tapper pressed Bessent on the courts: “Is the administration going to appeal the ruling by the judge? Is that what you mean by the courts need to weigh in, because the courts have weighed in.”
“No, but there&#8217;s a process that has to be followed, so we’ve got to figure out what the process is. President Trump wants to make sure that people get their food benefits,” Bessent replied.
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When asked if it could be accomplished by Wednesday, Bessent responded: “Could be — and five Democratic senators could cross the aisle and open the government by Wednesday.”
<blockquote class="twitter-tweet">
Treasury Secretary Scott Bessent on if the Trump Administration will use emergency funds to cover SNAP benefits.
BESSENT: &#8220;There&#8217;s a process that has to be followed. So, we got to figure out what the process is. President Trump wants to make sure that people get their food… <a href="https://t.co/MpyTqQBktq">pic.twitter.com/MpyTqQBktq</a>
— State of the Union (@CNNSOTU) <a href="https://twitter.com/CNNSOTU/status/1984992770700837072?ref_src=twsrc%5Etfw">November 2, 2025</a></blockquote>
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Bessent Blasts Dems On SNAP Crisis: ‘Cross The Aisle And Reopen Government’

Food Stamps

When Treasury Secretary Scott Bessent engineered a unique deal with Argentina’s Javier Milei, Guy Nohra started paying attention to Bessent’s moves. 
Nohra, a venture capitalist with over three decades of experience, knows a solid operator when he sees one.
In the Trump administration, Nohra says that guy is Scott Bessent. — The Daily Wire
* * *
After more than three decades investing in life sciences, co-founding Alta Partners and backing more than 180 breakthrough companies, I’ve learned a simple truth: innovation thrives when financial stability meets vision. Under Treasury Secretary Scott Bessent, America is delivering both.
This week’s $20 billion swap line with Argentina, paired with the U.S. purchase of Argentine pesos to stabilize markets, showed a different face of American leadership — one built on partnership rather than pressure. At home, Bessent’s confirmation that fiscal year 2025 closed with a lower deficit-to-GDP ratio than the year before signaled a welcome return to fiscal discipline. For investors like me, that message matters.
In biotech, one of the few if not the only sectors where pre-revenue companies go public in bull markets, a steady and clear hand at the Department of Treasury is a must. Secretary Bessent’s quiet confidence is a welcome change from Janet Yellen’s “inflation is transitory” approach. The life sciences public sector has been in a funk since 2021 and is finally showing signs of recovery.
Furthermore, venture funding in private life sciences companies has climbed roughly 25% year over year, according to PitchBook. That is not coincidence; it is cause and effect. Bessent’s push for clarity and transparency in financial markets helps all sectors, but especially fragile ecosystems such as biotechnology.
Bessent also understands how fiscal health drives innovation. In recent remarks to community-bank CEOs, he urged them to “go on the offense” by adopting fintech and AI. That was not banker talk; it was a blueprint for growth. By modernizing lending rules and keeping borrowing costs low, he has opened new paths for regional lenders to support early-stage biotechs and rural innovation hubs.
Some critics claim his attention to global markets, such as the Argentina initiative, distracts from domestic priorities. They miss the larger point. In life sciences, borders are illusions. A stable global economy ensures supply-chain reliability, research collaboration, and steady talent flow. Bessent’s diplomacy prevents the kind of market shocks that raise costs and choke investment at home.
What sets him apart is a blend of intellectual rigor and street-smart optimism, refined through years in global markets and at the helm of his own firm, Key Square Capital. He is not a bureaucrat trading in slogans but a market-tested operator who knows how to turn downturns into momentum. In his speech at the Federal Reserve’s Community Bank Conference, he described a future where small lenders and big ideas combine to help America out-innovate China in quantum computing, biologics, and sustainable manufacturing. For those of us funding the next generation of cures, that vision is a North Star.
As we approach a decade that could redefine human health — CRISPR 2.0, personalized medicine at scale, regenerative medicine — Scott Bessent’s steady leadership is providing the runway. His policies may not make flashy headlines, but they are quietly powering America’s next economic renaissance.
To my fellow investors, entrepreneurs, and policymakers: let’s double down on this moment. His 3% average GDP growth, 3% annual budget deficits (as a percentage of GDP), and three million barrel increase in domestic oil production are aggressive but achievable goals.
Let’s support the initiatives Bessent is advancing, from expanded R&amp;D incentives to bold public-private partnerships in health technology. The future of life sciences, and of American competitiveness, depends on it.
* * *
Guy Paul Nohra is Co-Founder of Alta Partners and Co-Founder of Alta Life Sciences Spain. He is a venture capitalist, philanthropist, and former GOP gubernatorial candidate for Nevada. He holds a BA from Stanford University and an MBA from Booth School of Business, University of Chicago.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.
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The Steady Hand Guiding America’s Economic Renaissance

Argentina

Capitalism

Javier Milei

Money

Treasury Department

The Treasury Department announced a new round of sanctions against Russia on Wednesday, targeting the country&#8217;s two largest oil companies that &#8220;fund the Kremlin’s war machine.&#8221;
The sanctions target Open Joint Stock Company Rosneft Oil Company, Lukoil OAO, and dozens of their subsidiaries. In a <a href="https://home.treasury.gov/news/press-releases/sb0290">press release</a>, the Trump administration said the sanctions were necessary because of &#8220;Russia’s lack of serious commitment to a peace process to end the war in Ukraine.&#8221;
“Now is the time to stop the killing and for an immediate ceasefire,” said Treasury Secretary Scott Bessent. “Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. Treasury is prepared to take further action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions.”
Just before the sanctions were announced, Bessent discussed the move in an interview on Fox Business on Wednesday afternoon,  saying it will be &#8220;one of the largest sanctions that we have done against the Russian Federation.&#8221;
&#8220;President Putin has not come to the table in an honest and forthright manner, as we&#8217;d hoped,&#8221; he added. &#8220;There were talks in Alaska. President Trump walked away when he realized that things were not moving forward. There have been behind-the-scenes talks, but I believe that the president is disappointed at where we are in these talks.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;President Putin has not come to the table in an honest and forthright manner, as we&#8217;d hoped&#8230; we are going to be announcing a substantial increase in Russia sanctions&#8230; one of the largest sanctions that we have done against the Russian Federation.&#8221; <a href="https://t.co/V4I8lg1WJi">pic.twitter.com/V4I8lg1WJi</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1981091320513835262?ref_src=twsrc%5Etfw">October 22, 2025</a></blockquote>
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U.S. sanctions on Russia come as the European Union approved the 19th batch of sanctions against Moscow on Wednesday, Reuters <a href="https://www.reuters.com/world/china/eu-approves-19th-package-russian-sanctions-including-lng-ban-2025-10-22/">reported</a>. The latest E.U. sanctions package includes a ban on liquefied natural gas imports from Russia. The sanctions will end short-term liquefied natural gas contracts with Russian companies after six months, while long-term contracts will end beginning on January 1, 2027.
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In July, Trump threatened to punish Russia with sanctions if it did not agree to end the war within 50 days. After meeting with Putin in Alaska in August, Trump said he was still considering &#8220;very serious&#8221; sanctions on Russia.
The Trump administration finally moved forward with sanctions after a planned second summit with Russian dictator Vladimir Putin was <a href="https://www.dailywire.com/news/second-trump-putin-summit-in-doubt-after-rubio-talks-with-russian-foreign-minister">placed on hold</a> on Tuesday. Trump had a &#8220;lengthy&#8221; <a href="about:blank">call</a> with Putin last Thursday, after which he announced that he would meet with the Russian dictator for another round of peace talks in Budapest in the near future. On Tuesday, the White House said that following a call between Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov, “there are no plans for President Trump to meet with President Putin in the immediate future.”
Trump commented on the summit in the Oval Office later on Tuesday, leaving the door open for a meeting with Putin, but adding, “I don’t want to have a wasted meeting. I don’t want to have a waste of time.”
Trump also met with Ukrainian President Volodymyr Zelensky on Friday, one day after his call with Putin, to discuss next steps in the peace negotiations. Zelensky has long been asking the United States for Tomahawk missiles, which would allow Kyiv to fire at targets deep inside Russia, but Trump <a href="https://www.dailywire.com/news/in-zelensky-meeting-trump-indicates-he-is-not-ready-to-give-ukraine-tomahawk-missiles">suggested</a> during the meeting with Zelensky that he wasn’t ready to provide Ukraine with the long-range cruise missiles.

Vladimir Putin/Donald Trump

Trump Ramps Up Pressure On Putin, Hits Russian Oil Companies With Sanctions

Russia

Sanctions

U.S.

Ukraine

Ukraine-Russia War

When nations face a fiscal emergency they turn to the <a href="https://www.imf.org/en/About/Factsheets/Sheets/2022/IMF-World-Bank-New" target="_blank" rel="noopener">International Monetary Fund (IMF).</a> When they need capital to build roads, energy grids, or water sanitation, they go to the <a href="https://www.imf.org/en/About/Factsheets/Sheets/2022/IMF-World-Bank-New" target="_blank" rel="noopener">World Bank.</a>
Both institutions play essential roles in the international financial system. But Treasury Secretary Scott Bessent <a href="https://home.treasury.gov/news/press-releases/sb0094#:~:text=First%2C%20we%20must%20make%20the,deficit%20in%20our%20nation's%20history." target="_blank" rel="noopener">believes</a> “mission creep has knocked these institutions off course.”
Earlier this year, Bessent warned that the IMF and World Bank have drifted from their mandates by devoting time and resources to work on <a href="https://home.treasury.gov/news/press-releases/sb0094#:~:text=First%2C%20we%20must%20make%20the,deficit%20in%20our%20nation's%20history." target="_blank" rel="noopener">climate change, gender, and social issues</a>. On Wednesday, he acknowledged recent course corrections and urged both institutions to continue refocusing on their original mandates.
“At a time when countries around the world are tightening their belts, we should expect the same from public institutions that have been built with and supported by taxpayer money from around the world,&#8221; Bessent <a href="https://home.treasury.gov/news/press-releases/sb0280" target="_blank" rel="noopener">said</a> this week ahead of both the IMF and World Bank&#8217;s annual meetings.
He criticized the board’s &#8220;ballooning salaries” and expanding administrative overhead, urging the institutions to impose financial discipline. “Resources must not be siphoned away from the core missions,” he added.
Part of that mission involves refocusing the IMF and World Bank’s relationship with China.
Last week, China sent a letter announcing large-scale export controls taking effect on November 1. President Donald Trump said the export controls would be on “virtually every product they make“ and “affect all countries.” He condemned the policy as a “moral disgrace” and responded with a threat to raise tariffs to 100% on all Chinese imports.
Bessent, echoing Trump’s concerns, urged the IMF and the World Bank to take another look at China.
“The IMF is uniquely positioned to provide bilateral and multilateral economic surveillance that identifies imbalances and risks, facilitates the balanced growth of international trade, and discourages harmful policies.”
Bessent called the IMF to examine China’s policies, focusing their surveillance “on macroeconomic and financial stability” rather than “climate and gender.”
Addressing the World Bank, Bessent pushed for implementing a graduation policy “supporting countries along the way to self-reliance and enabling the bank to concentrate its resources on poorer, less creditworthy countries where its support is most needed and most impactful.”
Bessent specifically named China as a country that should no longer be receiving World Bank assistance, saying it’s time for the institution to “graduate” China and focus its limited resources where support is truly needed.
Bessent’s stance matters. The United States is the largest financial contributor to both institutions, giving it considerable influence over policy direction and voting power.
The Treasury Secretary&#8217;s remarks also mark a sharp change in policy from his predecessor. At the 2024 Annual Meetings of the International Monetary Fund and World Bank, Biden Treasury Secretary Janet Yellen praised the “record high of nearly $75 billion in climate finance to low- and middle-income countries in 2023, a 45 percent increase from 2021.”
“Confronting climate change, of course, remains at the top of our agenda,” she announced. She also supported an expansion of IMF funding through increased quotas.

FILE PHOTO: U.S. Treasury Secretary Bessent testifies before a House Ways and Means Committee hearing on Capitol Hill

Bessent Pushes IMF And World Bank Focus On China, Not Gender And Climate Issues

China

Climate Change

A key adviser in the Treasury Department is drawing up plans that would overhaul the IRS criminal-investigative division and allow the Trump administration to more easily target leftist groups, The Wall Street Journal <a href="https://www.wsj.com/politics/policy/trump-irs-investigations-left-leaning-groups-democratic-donors-612a095e?mod=hp_lead_pos1">reported</a> on Wednesday.
A senior IRS official involved in making the plans told the WSJ that the administration has already compiled a list of targets, including Democratic donors, that the IRS would investigate. Gary Shapley, who advises Treasury Secretary Scott Bessent, has told people that he will replace career bureaucrat Guy Ficco, the chief of the service’s investigative unit, according to the WSJ.
The move would help the administration control the reins of the IRS criminal investigation division and install people who align with Trump’s vision. The plans would also open the doors for IRS investigators to go after leftist groups and target Democratic mega-donors, including George Soros, according to a senior IRS official and another source, whom the WSJ reported was “briefed on the list.”
President Donald Trump has already tasked Bessent, who is also serving as the acting IRS commissioner, with probing left-wing groups that the administration believes could be financing violent demonstrations against the Trump administration in cities across the United States. Trump has also called for Soros and his son, Alex, to be charged under the Racketeer Influenced and Corrupt Organizations Act (RICO) “because of their support of Violent Protests, and much more, all throughout the United States of America.”
“We’re not going to allow these lunatics to rip apart America any more, never giving it so much as a chance to ‘BREATHE,’ and be FREE,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/115100792784831675">wrote</a> on Truth Social on August 27. “Soros, and his group of psychopaths, have caused great damage to our Country! That includes his Crazy, West Coast friends. Be careful, we’re watching you!”
Bessent said on Wednesday that his department is prioritizing the effort to target “violent domestic networks,” comparing the plan to the United States going after terrorist networks after 9/11. The IRS is a bureau of the Treasury Department.
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During an appearance on a special White House edition of “The Charlie Kirk Show” on the same day that Kirk was posthumously awarded the Presidential Medal of Freedom, Bessent highlighted the rise of anti-Israel demonstrations in the United States following Hamas’ attack on the Jewish state two years ago.
“Since the terrible day two years ago, the anti-Semitism and the bias that came out after October 7, 2023, many of these organizations have been financed by non-profits, and it&#8217;s going to stop. And we are going to, as they always say, follow the money … this takes a lot of money and a lot of organization,” he said.
Bessent added that the assassination of Charlie Kirk kick-started the Treasury Department’s effort to “compile lists” of networks that are responsible for funding any leftist violence.
“Charlie’s death has set this off, and we are determined, not only to honor him, but to keep our country safe and to ensure freedom of speech on both sides,” the Treasury Secretary said.
<blockquote class="twitter-tweet">
Just as <a href="https://twitter.com/USTreasury?ref_src=twsrc%5Etfw">@USTreasury</a> led the effort after 9/11 to track terrorist financing, it will follow the money behind violent domestic networks. We will expose domestic terrorists and bring them to justice. <a href="https://t.co/iitcxdcgnf">pic.twitter.com/iitcxdcgnf</a>
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1978181513251344429?ref_src=twsrc%5Etfw">October 14, 2025</a></blockquote>
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Shapley did not address the proposed overhaul of the IRS criminal investigation division when asked by the WSJ, simply stating, “I’m grateful to continue in my role in reforming the IRS.”
A Treasury Department spokesman told the WSJ that the IRS “team’s focus remains collections, privacy, and customer service.”
The Daily Wire reached out to the White House, requesting comment on the WSJ report.

President Trump Signs Order On TikTok’s US Operations

Trump Eyes IRS Overhaul To Go After George Soros, Leftist Donor Networks

George Soros

Leftists

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