Tax Cuts to Include Trump Promises on Tips and Overtime: Bessent

Treasury Secretary Scott Bessent said the extension of the 2017 tax cuts he is working on with House and Senate Republicans will make permanent the existing breaks and include several of President Donald Trump’s campaign promises, including no taxes on tipped wages, overtime pay and Social Security payments.

• “We’re going to make it permanent, and then we’re going to layer on President Trump’s campaign promises,” Bessent says during an interview with Sean Hannity on Fox News. “No tax on tips, no tax on Social Security, no tax on overtime, and we’re going to make purchasing an American car tax ...