Treasury Secretary Scott Bessent says there is "unity" in the GOP to pass a multi-billion dollar tax cut

After meeting with GOP leaders in both houses, Mike Johnson and John Thune, among other congressmen, the Treasury Secretary, Scott Bessent, assured "unity is strong" in the party. So much so that he even dared to set a date for an ambitious Republican bill: July 4.

By that time, the secretary aims for Congress to have passed a multi-billion dollar tax cut. The date gives the party more time than the one announced by Speaker Johnson: May 26, Memorial Day.

The project will provide "permanence" to the 2017 tax cuts, granting, he assured, "certainty to American businesses and the American people." Added to this are other promises for "hardworking Americans": "No tax on tips, no tax on overtime, no tax on Social Security."

The "largest tax cut in American history," as the Administration calls it, is only one of the three goals of the President's economic agenda. The other two, Bessent explained, are deregulation and trade. The latter alludes to tariffs, which the secretary said will serve to reduce taxes.

Bessent also spoke about the so-called "X date" the estimated time when the state will no longer be able to pay the national debt. Although he acknowledged that he is still unaware of the exact date, he may have "a better calculation toward the end of the week or next." He asserted, however, "The U.S. will never miss the X date."