Today’s inflation report brought more welcome news that prices are down and wages are up — and that progress will be supercharged with President Donald J. Trump’s One Big Beautiful Bill.
Secretary of the Treasury Scott Bessent told Congress how the One Big Beautiful Bill — the largest tax cut in history — will boost that progress for middle-class Americans and the private sector without fueling inflation:
- “The One Big Beautiful Bill will raise take-home pay between $7,800 and $13,300 for the average family of four. It will increase wages between $6,100 to $11,600 for the average worker.” (Watch)
- “Not only does the One Big Beautiful Bill add $500 to the Child Tax Credit, it makes it permanent.” (Watch)