INSUBCONTINENT EXCLUSIVE:
The United States Senate, led by Republicans, passed a budget resolution on April 5, 2025, with a 51-48 vote, advancing President Donald
strengthens the middle class
Republicans unlocked this legislation through budget reconciliation, bypassing the need for 60 Senate votes.The package sustains the 2017
Tax Cuts and Jobs Act, which dropped the corporate tax rate from 35% to 21%, and adds $1.5 trillion in new cuts, including no taxes on tips,
relief of $1,695 annually
He predicts this will spark investment and job creation, driving economic growth.Tariffs form a cornerstone of the plan, with Trump
proposing up to 60% duties on Chinese goods and 10-20% on other imports
Bessent estimates these could generate $300 billion to $600 billion yearly, directly funding the tax cuts.United States Tax Cuts Pass,
Igniting a Main Street Era Over Wall StreetHe argues this revenue stream balances the fiscal equation, reducing reliance on borrowing while
protecting American industries.The approach aims to rebuild manufacturing, cutting dependence on foreign supply chains, which Bessent ties
to national security.The Senate also approved a $5 trillion debt ceiling hike to avoid a mid-2025 default on the $36.6 trillion national
Bessent highlights that the 2017 cuts boosted GDP by 1.1%, suggesting similar gains ahead.He dismisses inflation fears, claiming increased
prosperity.The numbers tell a compelling story: tax cuts and tariff income aim to sync, fueling growth while dodging fiscal
