Tax breaks will extend to people who do not even realize it yet, Joe Lavorgna, counselor to Secretary Scott Bessent at the U.S. Department of Treasury, said during an appearance on Breitbart News Saturday.
Lavorgna discussed the widely popular “No Tax on Tips” and the big, beautiful bill signed by President Trump on July 4.
“I remember I was not working for Secretary Bessent at that point, and I remember people telling there’s no way that can get done, and so I wouldn’t bet against the president, and sure enough, he signed it on July 4,” he said. “And the reason for that is, I don’t think people realize how hard the Treasury, the IRS in particular, are working now to institute these guidelines.”
“How’s it going to work? Who’s eligible for it? I mean, there’s a tremendous amount of work that people don’t see, that people need to put in to get this done,” he said, explaining that Trump knew he had to get it done quickly so that Americans would get their refunds as soon as possible.
“And the President knew, ‘Look, I’ve got to get this done so that people can get their get their refunds back as soon as possible…’ We want to make sure that everything works perfectly. And people are going to get their tax refunds early next year. And the thing is, with some I mentioned, it takes time,” he explained.
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“The administration, you know, we’re going to include content providers. They’re going to get a well-deserved tax break. So that’s going to be like YouTubers and podcasters and other sorts of digital content creators. They’re going to qualify for this,” he said, explaining that it is “not just a hard working waiter, waitress, bartender, etc.”
“It’s people who are in 21st century industry. So we believe [they should] also take advantage of this important tax break,” he said, adding further perspective on the bill.
“It just did not prevent the what would have been the largest tax increase in history the economy from occurring and almost certainly pushing us into recession,” he said. “So first and foremost, it stopped that horrendous policy that would have taken place, but it also adds these other important aspects — cutting lower and middle income taxes and then incentivizing businesses to spend more on capital, as we talked about, to spend more on factories that are going to employ American workers.”
He added that all of those things are “starting to kick in.”
Breitbart News Saturday airs on SiriusXM Patriot 125 from 10:00 a.m. to 1:00 p.m. Eastern.
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