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Senators press nominee Bessent on extending 2017 tax cuts and deficit risks
Summary
Committee Republicans urged Scott Bessent to support making the 2017 Tax Cuts and Jobs Act permanent to avoid a multi‑trillion dollar tax increase, while Democrats warned of distributional impacts and insisted on addressing deficits and fairness.
Scott Bessent faced sustained questioning about the 2017 Tax Cuts and Jobs Act (TCJA) and the fiscal consequences of either extending or allowing its provisions to expire.
Republican senators, including Chairman Mike Crapo and Senator Mike Daines, emphasized the risk of a multi‑trillion dollar tax increase if TCJA provisions lapse and pressed for permanency to provide certainty to households and pass‑through businesses. Crapo asked Bessent about preventing a “tax increase” tied to expiration; Bessent described extension of pro‑growth tax policy as…
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