Scott Bessent said the recently passed tax bill is already reshaping the U.S. economy, driving a surge in capital investment by American businesses while delivering direct financial benefits to working families through lower taxes and higher take-home pay.
Bessent outlined what he described as the most significant elements of the legislation, emphasizing provisions that allow immediate expensing for business investments and extended incentives for factory construction.
“What we are going to see next year, that, if you think about the signature parts of the tax bill, I think that the powerful, the most powerful parts had the immediate expensing for American business, permanent for equipment, and then four or five year window for factories,” Bessent said.