economy
Treasury Sec. Scott Bessent Tells Taxpayers: ‘Change Your Withholding, You’ll Get An Automatic Wage Increase’
'...if you change your withholding then you will get an automatic real wage increase on a weekly or monthly basis and you will be able to keep more of your money...'
TL;DR
- Treasury Secretary Scott Bessent advises taxpayers to change their federal withholding to increase take-home pay.
- He claims this change will result in an automatic real wage increase.
- The advice comes amidst discussions of President Trump's past tax cuts and potential future tax reforms.
- Trump has suggested eliminating federal income taxes for those earning under $200K and reforming the IRS.
- The Trump administration previously reduced the IRS workforce significantly.