Various US Senate committees kicked off the week with confirmation hearings, from budget chief nominee Russell Vought to Treasury pick Scott Bessent. Meanwhile, the lower chamber initiated the debate surrounding the renewal of the 2017 Tax Cuts and Jobs Act (TCJA). The Trump tax cuts are set to expire this year; Republicans want them to stay, and Democrats aim for their demise. Like any landmark legislation, economists offered their two cents, determining whether they were successful and if they are still needed.
The Trump Tax Cuts Case
Billionaire financier Scott Bessent told lawmakers he came out from behind his desk to tackle “the single most important economic issue of the day.” Should Congress fail to leave the TCJA intact, the federal government could trigger an “economic calamity” resulting in financial “instability that falls on the…
