Scott Bessent defends Trump administration economic policies

US Treasury Secretary Scott Bessent has defended the economic policies of the Trump administration, specifically highlighting wage growth and tax relief in a Labor Day message. Bessent stated that real wages are increasing faster than inflation and noted that lower-income workers are experiencing faster wage growth compared to higher earners.

Bessent also cited the creation of over 900,000 private-sector jobs and credited the Working Families Tax Cuts with providing $82 billion in tax relief to American households. He argued against efforts by political opponents to repeal these tax cuts, asserting that workers should retain more of their earnings.

In addition to these remarks, Bessent is scheduled to participate in a policy discussion titled ‘State of the Economy’ to discuss the nation's economic trajectory ahead of upcoming midterm elections.