Close Menu
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Facebook X (Twitter) Instagram
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Newsletter
Truth Republican
You are at:Home»Business»Treasury chief says ‘remains to be seen’ if Trump tax bill will add to $36T national debt
Business

Treasury chief says ‘remains to be seen’ if Trump tax bill will add to $36T national debt

Buddy DoyleBy Buddy DoyleJune 11, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
Treasury chief says ‘remains to be seen’ if Trump tax bill will add to T national debt
Share
Facebook Twitter LinkedIn Pinterest Email

Treasury Secretary Scott Bessent suggested there could be a chance that President Donald Trump’s “one big, beautiful bill” may add to the $36 trillion national debt.

Bessent appeared before the House Ways & Means Committee on Wednesday, a hearing that Democrats used to sharpen their attacks against Republicans’ massive Trump agenda bill.

At one point, Rep. Terri Sewell, D-Ala., asked Bessent whether the bill would add to the U.S. debt.

“It remains to be seen,” Bessent answered.

MEET THE TRUMP-PICKED LAWMAKERS GIVING SPEAKER JOHNSON A FULL HOUSE GOP CONFERENCE

Sewell pointed to modeling by the nonpartisan Congressional Budget Office (CBO) that said the bill would add $2.4 trillion in federal deficits over the next 10 years.

The national debt, which is currently nearing $37 trillion, and the U.S. spending deficits are not the same thing – the national debt refers to the cumulative sum owed by the federal government, while the deficit is the net difference between what the government spends and what revenues it brings in.

Bessent pointed out the CBO said Trump’s tariff policies could reduce the deficit by $2.8 trillion over a decade, which in theory would create a surplus under the legislation.

NATIONAL DEBT TRACKER: AMERICAN TAXPAYERS (YOU) ARE NOW ON THE HOOK FOR $36,215,685,263,667.36 AS OF 6/9/25

President Donald Trump

“You want to talk about dynamic scoring and all that–” Sewell began, before being cut off by Bessent again.

Bessent said, “There’s nothing dynamic about that. You’re quoting the CBO. I’m quoting the CBO. So let’s level set.”

At an earlier point, Rep. Jodey Arrington, R-Texas, a member of the House’s taxwriting panel who also chairs the House Budget Committee, also took on Democrats’ accusations that the bill would add to the debt.

MCCAUL TOUTS MONEY IN TRUMP TAX BILL TO PAY TEXAS BACK FOR FIGHTING BIDEN BORDER POLICIES

Johnson elected new House Speaker, holds gavel

“Now let’s move to this notion… that somehow we’ve increased the national debt in the One Big Beautiful Bill Act. Forget for a minute that they, under their control, full Democrat control, added $8 trillion to the national debt,” Arrington said. 

“If you take CBO’s static scores, the cost of the bill is about $4.16 trillion. If you take the 1.7 trillion in savings, the largest spending reduction in the history of the United States by twofold, and you put a conservative growth rate – because CBO’s growth rate is 1.8 in their baseline, that 1.8 is based on the last four years of failed economic policies and unbridled spending… the net effect is, we reduce the deficit.”

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleNewsom compared to infamous Dem governor who also tried to block National Guard
Next Article Elon Musk “Regrets” His Attacks On Donald Trump

Related Articles

South Korea to invest 0B in US under new Trump trade agreement, tariff rate lowered to 15%

South Korea to invest $350B in US under new Trump trade agreement, tariff rate lowered to 15%

July 31, 2025
‘Not ready for prime time’: Trump, Republicans slam GOP leader’s stock trade ban bill

‘Not ready for prime time’: Trump, Republicans slam GOP leader’s stock trade ban bill

July 30, 2025
Trump announces new US-Pakistan trade deal to develop oil reserves

Trump announces new US-Pakistan trade deal to develop oil reserves

July 30, 2025
Derek Jeter’s digital trading card venture makes groundbreaking partnership with eBay

Derek Jeter’s digital trading card venture makes groundbreaking partnership with eBay

July 30, 2025
Federal Reserve holds key interest rate steady for fifth straight meeting despite Trump’s pressure

Federal Reserve holds key interest rate steady for fifth straight meeting despite Trump’s pressure

July 30, 2025
Tesla mocks American Eagle with cheeky jeans joke after Sydney Sweeney ad controversy erupts

Tesla mocks American Eagle with cheeky jeans joke after Sydney Sweeney ad controversy erupts

July 30, 2025
‘Labeling error’ has vodka seltzer in energy drink cans, prompting recall

‘Labeling error’ has vodka seltzer in energy drink cans, prompting recall

July 30, 2025
Mets’ Francisco Lindor partners with Dairy Queen for ‘Miracle Treat Day’ impacting children’s hospitals

Mets’ Francisco Lindor partners with Dairy Queen for ‘Miracle Treat Day’ impacting children’s hospitals

July 30, 2025
Fed meeting looms as Trump celebrates 3% GDP growth, pushes for rate cuts

Fed meeting looms as Trump celebrates 3% GDP growth, pushes for rate cuts

July 30, 2025
Don't Miss
Film Star Shawn Ashmore Releases First Production Knife Design

Film Star Shawn Ashmore Releases First Production Knife Design

South Korea to invest 0B in US under new Trump trade agreement, tariff rate lowered to 15%

South Korea to invest $350B in US under new Trump trade agreement, tariff rate lowered to 15%

Inside Biden confidante Steve Ricchetti’s ‘combative’ eight-hour grilling in House Oversight cover-up probe

Inside Biden confidante Steve Ricchetti’s ‘combative’ eight-hour grilling in House Oversight cover-up probe

Newlyweds’ honeymoon trip ends in fiery crash that kills husband and baby daughter

Newlyweds’ honeymoon trip ends in fiery crash that kills husband and baby daughter

Latest News
Ozzy and Hulk’s health issues, plus an athlete’s cancer diagnosis

Ozzy and Hulk’s health issues, plus an athlete’s cancer diagnosis

July 30, 2025
Fox News Politics Newsletter: Of ‘Burn Bags’ and Russia Probes

Fox News Politics Newsletter: Of ‘Burn Bags’ and Russia Probes

July 30, 2025
Phillies make major trade deadline move for All-Star closer Jhoan Duran from Twins: reports

Phillies make major trade deadline move for All-Star closer Jhoan Duran from Twins: reports

July 30, 2025
The Bubble Is Bursting: Delinquency Rates Have Doubled And Credit Card Defaults Are Soaring

The Bubble Is Bursting: Delinquency Rates Have Doubled And Credit Card Defaults Are Soaring

July 30, 2025
Trump announces new US-Pakistan trade deal to develop oil reserves

Trump announces new US-Pakistan trade deal to develop oil reserves

July 30, 2025
Copyright © 2025. Truth Republican. All rights reserved.
  • Privacy Policy
  • Terms of use
  • Contact

Type above and press Enter to search. Press Esc to cancel.