Treasury Secretary Scott Bessent is using the clean-up from the implosion of Donald Trump’s illegal tariffs to set the stage for all that tariff revenue to disappear.
Speaking at the Economic Club of Dallas on Friday, Bessent claimed that in spite of the Supreme Court’s decision to block Trump’s tariffs imposed under the International Emergency Economic Powers Act, a new series of tariffs imposed under other statutes would ensure the revenue was “virtually unchanged.”
But Bessent warned that at least $175 billion of tariff revenue that the U.S. government had already collected would likely evaporate. “I got a feeling the American people won’t see it,” Bessent said, his finger tips pressed together like a cartoon supervillain.
But if Americans don’t see those funds, there would only be one person to blame: Trump. Promises to fund sweeping tax cuts, bridge payments to farmers, deficit reduction, and phony $2,000 rebate checks all went up in smoke—because they weren’t his promises to make.
Clearly, Bessent deserves some blame, too, because he didn’t bother to see if the president’s fees were actually legal before he went to collect them.
The Supreme Court’s majority ruling did not say the federal government could keep the money from the improperly collected tariffs, but conservative Justice Brett Kavanaugh warned in his dissenting opinion that doling out refunds could get messy.
Hence then, the article about trump treasury secretary gives up game on tariff revenue was published today ( ) and is available on The New Republic ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Trump Treasury Secretary Gives Up Game on Tariff Revenue )
Also on site :
- California Dreamin’: NBC Kicks Off 2028 L.A. Olympics Marketing Campaign With Kate Hudson (Exclusive)
- Zelensky tells BBC Putin has started WW3 and must be stopped
- Kate Hudson Delivers Powerhouse Performance of 1966 Hit in New Olympics Promo