Joe Lavorgna, senior counselor to Treasury Secretary Scott Bessent, told Breitbart News Daily that Bessent’s calm demeanor, credibility with financial markets, and ability to execute President Donald Trump’s economic policies have made the Treasury Department “the best working agency in government.”
“Secretary Bessent is a legendary investor,” Lavorgna remarked. “He is a market savant and has immediate credibility with everybody in the financial markets… He’s been able to implement President Trump’s vision better than I think anybody else could have.”
Lavorgna credited Bessent with helping to deliver key policy victories like the “one big, beautiful bill,” which reinstated 100 percent expensing for capital purchases and spurred a surge in capital investment.
“An overlooked series from the Federal Reserve shows that capital equipment in the first two quarters of the year is up almost 17 percent annualized, which is the biggest gain we’ve had, excluding the pandemic, since 1997,” Lavorgna stated. “That got companies moving early, got the economy moving sooner than it otherwise would be.”
Lavorgna said there’s no panic inside the department, describing it as “very professional and businesslike.”
“When you manage billions and billions of dollars, as he has over the years,” Lavorgna noted, “you’re able to project calm, project tranquility, and professionalism and confidence.”
He also pointed to rising wages among non-supervisory, blue-collar workers as evidence of momentum.
“They’ve basically seen the fastest six-month increase in their wages on record, with one slight exception — the first six months of President Trump’s first term,” Lavorgna highlighted.
Looking ahead, Lavorgna explained the next major step is a new reconciliation bill expected in October.
“My guess is you’ll see just more things that will be pro-growth, deregulation,” he shared. “Having current regulation that gets the government off the back of entrepreneurs and small businesses… allows U.S. companies to thrive — especially small businesses, because the big businesses always started small.”
Lavorgna added that President Trump’s record with small businesses is “unmatched” and reported that the focus now is on continuing implementation while encouraging innovation and entrepreneurship.
“It’ll be continuing the policies, making sure they’re implemented, and adding new developments that just really incentivize the ingenuity and entrepreneurialism of the U.S. business to thrive,” he revealed. “I know that’s general, but I think that’s the important narrative.”
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