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Investing.com -- U.S. Treasury Secretary Scott Bessent praised the Senate’s passage of the One, Big, Beautiful Bill Act on Tuesday, calling it a "major step forward" in implementing President Trump’s economic agenda.
In a statement, Bessent highlighted that Senate Republicans had acted to prevent what he described as a $4 trillion tax increase on Americans. The legislation includes provisions for "No Tax on Tips, No Tax on Overtime, new tax cuts for seniors," and measures supporting the manufacturing sector.
The Treasury Secretary acknowledged the efforts of Senate Leader Thune and Chairman Crapo in advancing the bill. He urged House Republicans to "act quickly" on the legislation to fulfill President Trump’s promises regarding economic growth and maintaining the United States’ position as a destination for capital and innovation.
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