Bessent Plans July 4 Deadline for Tax Bill Overhaul

Treasury Secretary Scott Bessent announced that the new target deadline for Congress to pass President Trump’s tax reform package is July 4, following meetings with top Republican leaders. This revised date replaces the original Memorial Day goal, offering additional time for Senate deliberations and any necessary House revisions. The tax package is a central part of the GOP’s economic agenda, coming as polling indicates public dissatisfaction with the administration’s economic performance. Congressional leaders are moving quickly to advance the reconciliation bill, aiming for House passage by Memorial Day to allow the Senate a month for further work. The urgency is heightened by looming economic pressures and the unresolved debt ceiling timeline. Bessent emphasized the importance of coherent policy signals as lawmakers approach these critical deadlines.