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...'

Treasury Sec. Scott Bessent Tells Taxpayers: ‘Change Your Withholding, You’ll Get An Automatic Wage Increase’

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.

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