Part 5/7:
Secretary Scott Bessent raised alarms about a looming tax increase affecting all income classes should the bill not pass. As the discussion unfolds, it has been noted that coverage of the bill may overlook its primary goal: stopping significant tax hikes rather than simply extending existing cuts. Critics also argue that assumptions made by the Congressional Budget Office (CBO) regarding economic growth rates could lead to inaccurate projections about the bill’s potential impact. The CBO has typically estimated growth rates significantly lower than those experienced in recent history, prompting discussions about the necessity of revisiting those evaluations.