Tax Breaks: The Money, Treasury, And Internal Revenue Service Shakeup Edition
Plus: Relief for taxpayers impacted by wildfires, itemizing deductions, civil forfeiture programs, Direct File, Tax Cuts and Jobs Acts, tax filing deadlines, and more
Democrats: Bessent avoided Medicare tax on hedge fund earnings
Senate Democrats are gearing up for a fight against Scott Bessent, President-elect Donald Trump’s pick for Treasury secretary.
US Treasury nominee Scott Bessent faces sharp questions from Democrats at confirmation hearing
Treasury nominee plans to say at confirmation hearing that Trump will unleash ‘economic golden age’
Watch: Scott Bessent testifies at secretary of the treasury confirmation hearing
Lawmakers on Capitol Hill are set to question Scott Bessent’s stance on taxes, tariffs, trade and other issues during his confirmation hearing before the Senate Finance Committee.
Trump's Treasury pick Bessent won’t discriminate on tax cheats, vows fairness
Treasury secretary nominee Scott Bessent testified in his confirmation hearing that he won't discriminate in tax enforcement and will ensure the IRS has the tools needed for audits.
Trump treasury pick Scott Bessent calls for stronger Russia sanctions, Fed independence at confirmation panel
Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.
Bessent warns of ‘devastating’ consequences if tax cuts lapse
Taxes and tariffs took center stage Thursday at a hearing for President-elect Donald Trump’s intended Treasury secretary nominee.
Trump announces new External Revenue Service to collect foreign money
President-elect Donald Trump said he would establish an External Revenue Service to collect tariffs, duties and all revenue from foreign sources.
Confirmation hearings day 3 highlights: Doug Burgum, Scott Bessent and other Cabinet picks face Senate questions
In a new memo obtained by NBC News, Senate Finance Democratic tax staff found that Scott Bessent avoided over $950,000 of self-employment taxes.
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Trump vows trade policy of 'tariff and tax' on other countries
US President Donald Trump promised tariffs and taxes on other countries Monday, in a nationalistic inaugural address after being sworn in as the 47th president.
Can Trump handle the new Republican factions?
The party is united in personal loyalty to the president-elect, but it is now made up of multiple groups with very different agendas
U.S. to Deploy ‘Extraordinary Measures’ to Avoid Default on Jan. 21
Janet L. Yellen, the outgoing Treasury secretary, urged lawmakers to raise the debt limit and protect the full faith and credit of the United States.
U.S. Faces Record Debt Levels as Republicans Plan Tax Cuts
The new budget forecasts predicted that the United States will record a $1.9 trillion budget deficit this fiscal year and that annual deficits over the next decade will total $21.1 trillion. That will be piled on to a national debt that currently exceeds $36 trillion.