Trump’s US Treasury pick Bessent says extending tax cuts a top priority

(Reuters) – Scott Bessent, U.S. President-elect Donald Trump’s choice to head the Treasury Department, on Thursday said that extending Trump’s 2017 tax cuts that are set to expire at the end of this year is “the single most important economic issue of the day.” 

“If we do not renew and extend, then we will be facing an economic calamity,” Bessent told the U.S. Senate Finance Committee. “We will see a gigantic middle class tax increase.”