Treasury Secretary Scott Bessent: This Administration Wants to Make the 2017 Tax Cuts and Jobs Act Permanent

KUDLOW Joining us for ░░░░░░░░ first interview since joining ░░░░░░░░ administration as U S ░░░░░░░░ secretary Scott Bessent Secretary ░░░░░░░░ Bessent I like the ░░░░░░░░ of that Secretary Bessent ░░░░░░░░ Thank you Larry Good ░░░░░░░░ be with you KUDLOW ░░░░░░░░ for coming out We ░░░░░░░░ it very much You ░░░░░░░░ thought about this flat ░░░░░░░░ s developing I m ░░░░░░░░ about it a five ░░░░░░░░ or Edward Lawrence is ░░░░░░░░ a five year extension ░░░░░░░░ a 10 year extension ░░░░░░░░ other flotsam and jetsam ░░░░░░░░ would interfere with the ░░░░░░░░ tax cuts BESSENT Larry ░░░░░░░░ Trump has a mandate ░░░░░░░░ came in to do ░░░░░░░░ things And one of ░░░░░░░░ big things that this ░░░░░░░░ wants to do is ░░░░░░░░ the 2017 Tax Cuts ░░░░░░░░ Jobs Act permanent And ░░░░░░░░ permanency will continue to ░░░░░░░░ the U S the ░░░░░░░░ one economy in the ░░░░░░░░ in terms of growth ░░░░░░░░ re going to bring ░░░░░░░░ inflation we re going ░░░░░░░░ cut regulations and we ░░░░░░░░ going to get the ░░░░░░░░ cut The goal is ░░░░░░░░ for them to be ░░░░░░░░ permanent And as you ░░░░░░░░ said that we are ░░░░░░░░ to use current policy ░░░░░░░░ and the scoring that ░░░░░░░░ know up until a ░░░░░░░░ ago I was a ░░░░░░░░ I ve been looking ░░░░░░░░ CBO numbers for 35 ░░░░░░░░ in my day job ░░░░░░░░ the investment business but ░░░░░░░░ never understood the way ░░░░░░░░ scoring worked And it ░░░░░░░░ tilted towards spending and ░░░░░░░░ is why the spending ░░░░░░░░ gotten out of control ░░░░░░░░ in Washington KUDLOW And ░░░░░░░░ I understand it you ░░░░░░░░ from the president on ░░░░░░░░ but especially you you ░░░░░░░░ you want to lower ░░░░░░░░ and lower the tax ░░░░░░░░ I mean and what ░░░░░░░░ law says you can ░░░░░░░░ do both Is there ░░░░░░░░ biblical chapter that says ░░░░░░░░ can t do both ░░░░░░░░ to me it s ░░░░░░░░ right thing to do ░░░░░░░░ Look the U S ░░░░░░░░ t have a revenue ░░░░░░░░ We have a spending ░░░░░░░░ And I think we ░░░░░░░░ up the revenues we ░░░░░░░░ up the growth and ░░░░░░░░ importantly President Trump got ░░░░░░░░ because of this affordability ░░░░░░░░ And as the discussion ░░░░░░░░ Karoline Levitt was questioned ░░░░░░░░ what is he going ░░░░░░░░ do for the affordability ░░░░░░░░ Real wage growth for ░░░░░░░░ Americans is the best ░░░░░░░░ to fix this We ░░░░░░░░ contain prices we will ░░░░░░░░ regulation But real wages ░░░░░░░░ hourly workers In the ░░░░░░░░ Administration first Trump Administration ░░░░░░░░ you were a key ░░░░░░░░ of hourly workers wages ░░░░░░░░ outdid supervisory wages And ░░░░░░░░ know as I ve ░░░░░░░░ Wall Street where you ░░░░░░░░ I came from has ░░░░░░░░ it great Wall Street ░░░░░░░░ to do just fine ░░░░░░░░ now under this administration ░░░░░░░░ s Main Street s ░░░░░░░░