US Treasury Secretary Scott Bessent warns of Democratic policy shifts

US Treasury Secretary Scott Bessent warned during a Republican midterm convention in Dallas, Texas, that a Democratic victory in the November elections would lead to the dismantling of achievements made under the Donald Trump administration.

Bessent characterized the upcoming elections as a choice between maintaining the current administration's course or returning to the policies of the Joe Biden era. He specifically accused Democrats of planning to reduce funding for law enforcement and weaken southern border controls. Additionally, he argued that Democratic tax plans, while framed as targeting the wealthy, would ultimately impact the middle class and prioritize cheap labor and illegal immigration over American workers.

During his speech, Bessent defended Trump's economic policies, including tax cuts, trade policy, and energy development. He highlighted the ‘Trump Accounts’ program, established via the ‘One Big Beautiful Bill Act,’ which provides a starting sum of up to $1,000 for children born between January 1, 2025, and December 31, 2028.