Treasury Chief Dismisses Moody's Downgrade As GOP Pushes Trump Tax Bill
HuffPost
Scott Bessent said the tax-cut bill would spur economic growth, despite analysts and some Republicans warning it would add trillions to the government's debt.
WASHINGTON, May 18 (Reuters) - Treasury Secretary Scott Bessent on Sunday dismissed Moody’s downgrade of the U.S. sovereign credit rating, as the Republican-controlled Congress tried to push ahead on President Donald Trump’s sweeping tax-cut bill.
Bessent, in a pair of television interviews, said the bill’s provisions extending the 2017 tax cuts passed under Trump’s first term would spur economic growth that would outpace what the nation owed, even as nonpartisan analysts warn the measure it would add trillions to the federal government’s $36.2 trillion in debt.
“I don’t put much credence in the Moody’s” downgrade, Bessent told CNN’s “State of the Union” program.
The House of Representatives Budget Committee on Friday rejected the bill, with a handful of Republican hardliners saying they were concerned it did not sufficiently cut spending.
House Speaker Mike Johnson separately said on Sunday the chamber is still “on track” to pass the bill. The committee is set to try again in a rare Sunday night hearing, set to begin at 10 p.m. ET (0200 GMT Monday).
The podcaster described the president as a "79-year-old kid" while talking to Nvidia CEO Jensen Huang.
A judge dismissed the previous mortgage fraud prosecution encouraged by President Donald Trump.
Adm. Frank “Mitch” Bradley spoke with lawmakers on Thursday about the recent attacks on an alleged drug boat in the Caribbean.
"Wait, what??????" Katie Couric wrote in response to Kirk's opinion.
The GOP senator claims it was “entirely lawful” that the U.S. military launched a follow-up strike to kill survivors of its first strike in the Sept. 2 attack.
The report comes as the defense secretary is engulfed in a controversy over a “double tap” strike on an alleged drug smuggling boat.
The president's holiday-like fantasy is getting roasted by critics.
The case had frustrated authorities for years as they had failed to identify the person responsible for placing the bombs.
Sydney Sweeney entered the Fox News conversation that came to an eye-rolling conclusion.
The lawsuit accuses the Defense Department of violating reporters' First Amendment rights.
“It’s become quite a messy and toxic situation,” a Eurovision expert said.
The Duke of Sussex jabbed the president during a Hallmark-inspired comedy bit with host Stephen Colbert.
The illustrated image is... something.