On Tax Day, Treasury Secretary weighs in on souring sentiment, tax cuts and interest rates
Treasury Secretary Scott Bessent discussed the impact of President Trump's tax policies on Tax Day, citing increased tax refunds and strong consumer behavior. Despite this, polls show a majority of Americans disapprove of Trump's handling of taxes.
On Tax Day, Treasury Secretary Scott Bessent weighed in on the effects of President Trump's tax policies. As of April 3, the average tax refund was $346 more than the previous year's average. According to Bessent, 45% of American taxpayers have taken advantage of at least one of the federal tax cuts. Despite this, a Fox News poll found 64% of voters disapprove of Trump's handling of taxes. Bessent attributes low sentiment to survey respondents not accurately reflecting their true feelings, citing strong consumer behavior. The Federal Reserve's plans for interest rates are uncertain due to global price shocks triggered by the war with Iran.
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