{"id":2436321,"date":"2025-05-19T08:10:02","date_gmt":"2025-05-19T12:10:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scott-bessent-urges-tax-cuts-to-offset-possible-tariff-inflation\/"},"modified":"2025-05-19T08:11:06","modified_gmt":"2025-05-19T12:11:06","slug":"scott-bessent-urges-tax-cuts-to-offset-possible-tariff-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scott-bessent-urges-tax-cuts-to-offset-possible-tariff-inflation\/","title":{"rendered":"Scott Bessent urges tax cuts to offset possible tariff inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fscott-bessent-urges-tax-cuts-to-offset-possible-tariff-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2436321&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>in a recent statement, Treasury Secretary Scott Bessent advocated for tax cuts as a means to <a href=\"https:\/\/amzn.to\/3YuVZYV\" >counteract potential inflation resulting<\/a> from President Donald trump&#8217;s tariff plan. Following Trump&#8217;s declaration of a thorough tariff strategy, which included a 10% blanket tariff on imports and various rates for specific countries, Bessent suggested that critics should consider reducing taxes to alleviate inflationary pressures. <\/p>\n<p>He highlighted Walmart&#8217;s warning about rising prices due to tariffs, maintaining that teh company must account for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nyc-could-lose-thirty-percent-of-its-police-force-fire-department-over-vaccine-mandate\/\" title=\"NYC Could Lose Thirty Percent Of Its Police Force, Fire Department Over Vaccine Mandate\">worst-case scenarios<\/a> in its earnings calls. Bessent emphasized that, despite concern over tariffs leading to inflation, the Federal Reserve has not explicitly stated tariffs would do so. He also noted a slight decline in inflation coinciding with the tariff announcement and remarked on the political challenges surrounding the proposed tax cuts amidst unsuccessful legislative efforts to pass a significant budgetary bill. <\/p>\n<p>Additionally, Bessent&#8217;s remarks came as Trump&#8217;s interactions with Republican lawmakers, including criticism from figures like former vice president Mike Pence, reflect ongoing divisions within the party regarding the administration&#8217;s economic strategies.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Scott Bessent urges tax cuts to offset possible tariff inflation<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2115596\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Treasury Secretary <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/scott-bessent\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Scott Bessent<\/a> suggested critics of President <a href=\"https:\/\/washingtonexaminer.com\/tag\/donald-trump\" target=\"_blank\" rel=\"noopener\" title=\"Donald Trump\">Donald Trump<\/a>&lsquo;s tariff plan should be open to cutting taxes, calling them &ldquo;deflationary.&rdquo;<\/p>\n<p>Trump announced a sweeping <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/tariffs\" target=\"_blank\" rel=\"noreferrer noopener\">tariff plan<\/a> early last month, placing a blanket 10% tariff on imports into the United States and higher rates for select countries. Roughly a week after announcing the tariff plan, the president paused some of the higher rates, allowing trade deals to be made. He has since announced a trade deal with the United Kingdom and a temporary agreement with China, which reduced some tariffs.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/3415276\/bessent-warns-countries-refusing-negotiate-increased-tariffs\/\">Bessent warns countries refusing to negotiate can expect increased tariffs<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/3414981\/california-leaders-implore-congress-to-maintain-tax-cuts\/\">California leaders implore Congress to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scott-bessent-warns-countries-can-expect-apr-2-level-tariffs\/\" title=\"Scott Bessent warns countries can expect Apr 2 level ...\">maintain tax cuts<\/a>, Opportunity Zones<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/premium\/3409517\/immigration-labor-shortages-system-reform-trump-mass-deportations-skilled-unskilled-workers\/\">Past is prologue: Immigrant crackdowns lead to labor shortages<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>Last week, <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3415066\/trump-walmart-eat-the-tariffs-stop-blaming-him-price-increases\/\" target=\"_blank\" rel=\"noreferrer noopener\">Walmart announced the tariffs would result in higher prices<\/a>, with CEO Doug McMillon&nbsp;saying the company was unable to absorb all the added costs. Trump responded on Saturday, telling the company it should &ldquo;stop trying to blame tariffs.&rdquo;<\/p>\n<p>While appearing on <em>Meet the Press<\/em> on Sunday, Bessent was asked how far the administration would go to prevent corporations from raising prices in response to <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/tariffs\/\" target=\"_blank\" rel=\"noreferrer noopener\">tariffs<\/a>. The secretary suggested that his takeaway from those claiming tariffs are a tax on consumers is that &ldquo;tax increases are inflationary.&rdquo;<\/p>\n<p>&ldquo;When I was testifying before Congress last week, one of the congressmen said that, and I said, &lsquo;Well, congressman, if taxes are inflationary, let&rsquo;s cut taxes,&rsquo;&rdquo; Bessent explained. &ldquo;So, let&rsquo;s get this tax bill done, bring down taxes, which, according to this line of thinking, should be disinflationary.&rdquo;<\/p>\n<div style=\"width: 100%; max-width: 640px; max-height: 360px; min-width: 320px; min-height: 180px; overflow: hidden;\">\n<div style=\"position: relative; width: 100%; padding-top: 56.25%;\"><iframe src=\"https:\/\/share.grabien.com\/share.php?id=2940906&amp;userid=11311&amp;loginid=9421&amp;playercolor=%23000000&amp;playersize=auto&amp;code=a66230a8fde16b2bb5162aa08f462022\" style=\"position: absolute; top: 0px; left: 0px; width: 100%; height: 100%; border: 0px;\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>Bessent also argued that Walmart&rsquo;s warning about raising prices was based on the retailer&rsquo;s earnings call, in which retailers must provide &ldquo;the worst-case scenario.&rdquo; He said he called McMillon on Saturday but did not apply &ldquo;any pressure&rdquo; on the company to lower its costs.<\/p>\n<p>&ldquo;I just wanted to hear it from him,&rdquo; Bessent said of McMillon and Walmart&rsquo;s plan to increase prices. <\/p>\n<p>The secretary noted that the Federal Reserve has not said tariffs will cause <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">inflation<\/a> but that it is &ldquo;not sure.&rdquo; Bessent&rsquo;s assessment comes after <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3408546\/inflation-fell-april-brightening-outlook-trump-trade-war-markets\/\" target=\"_blank\" rel=\"noreferrer noopener\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rose-to-4-4-in-april-according-to-key-gauge-watched-by-fed\/\" title=\"April saw a 4.4% increase in ..., as per the Fed&#039;s important measure.\">inflation fell slightly<\/a> in April<\/a>, the same month the Trump administration unveiled its &ldquo;Liberation Day&rdquo; tariffs.<\/p>\n<p>Bessent&rsquo;s urge to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-pushes-to-end-tax-breaks-for-fossil-fuel-companies-as-americans-already-feeling-pain-at-pump\/\" title=\"Biden Pushes To End ... Breaks For Fossil Fuel Companies As Americans Already Feeling Pain At Pump\">provide tax cuts<\/a> to consumers comes after <a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/3413902\/fiscal-hawks-sink-big-beautiful-bill-house-budget-vote-trump-unity-plea\/\" target=\"_blank\" rel=\"noopener\" title=\"\">House Republicans failed to pass the &ldquo;one big, beautiful bill&rdquo; out of the Budget Committee on Friday<\/a>. The committee&rsquo;s vote tallied 16-21, with Reps. Ralph Norman (R-SC), Chip Roy (R-TX), Josh Brecheen (R-OK), Andrew Clyde (R-GA), and Lloyd Smucker (R-PA) joining all House Democrats in opposing it.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/premium\/3411166\/trump-tangos-with-mark-carney-us-canada-relations\/\" target=\"_blank\" rel=\"noopener\" title=\"\">TRUMP TANGOS WITH CARNEY: WHY US-CANADA RELATIONS COULD THAW POST-TRUDEAU<\/a><\/strong><\/p>\n<p>On Truth Social, the president rebuked <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/114517897638237566\" target=\"_blank\" rel=\"noopener\" title=\"\">&ldquo;GRANDSTANDERS&rdquo; within the Republican Party<\/a> and urged lawmakers to unite and get his &ldquo;ONE, BIG BEAUTIFUL BILL&rdquo; to his desk.<\/p>\n<p>On Sunday, former Vice President <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/foreign-policy\/3415264\/mike-pence-trump-change-course-foreign-relations\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Mike Pence expressed criticism over Trump&rsquo;s handling of foreign relations<\/a>, including tariffs. He was also critical of Trump&rsquo;s acceptance of an Air Force One jet from Qatar, calling it &ldquo;inconsistent&rdquo; with the nation&rsquo;s security needs.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2115596\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2115596\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scott Bessent advocates for tax cuts to counter potential tariff inflation<\/p>\n","protected":false},"author":2632,"featured_media":2436322,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/Bessent-tax-cuts-scaled-1024x683.webp","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[34402,55508,48678,55507,37525],"class_list":["post-2436321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-economic-policy","tag-financial-advice","tag-scott-bessent","tag-tariff-inflation","tag-tax-cuts"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/Bessent-tax-cuts-scaled-1024x683.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2436321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2632"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2436321"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2436321\/revisions"}],"predecessor-version":[{"id":2436325,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2436321\/revisions\/2436325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2436322"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2436321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2436321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2436321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}