National Economic Council Director Kevin Hassett mocked critics of the “big, beautiful bill” who have alleged that the legislation would hurt the United States “fiscally.”
All Republican senators except Sens. Thom Tillis (R-NC) and Rand Paul (R-KY) voted for the tax legislation to progress in the chamber. Paul noted that “nothing in the bill changes the course of the accumulation of debt,” which is a large focus of his Senate tenure.
Hassett made a case for how the bill would improve the country’s economic standing.
“If we don’t pass the bill, the Council of Economic Advisors here at the White House has said that it’s gonna cause GDP to drop 4% — one of the biggest recessions in history because of the massive tax hike — and honestly, that’s why this bill is gonna pass,” Hassett said on Fox News’s America’s Newsroom Monday.
“The bottom line is we’re in the end going to balance this budget, and we’ve got to balance this budget by getting rid of waste, fraud, and abuse, and we’re gonna do it. We’ve also got all this revenue coming in from the 3% growth, which will be an extra $4 trillion in revenue. We’ve got $2.8 trillion in tariff revenue coming in as well. So the idea that this is fiscally irresponsible is also incorrect.”
Hassett also echoed other bill proponents, suggesting that “this is not the last bill that’s ever going to pass,” and saying senators should tackle discretionary spending in addition to tackling more of the national debt. The big, beautiful bill centers on mandatory government spending.
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President Donald Trump is pressuring Congress to pass the bill by July Fourth. As a result, the Senate has worked through part of its recess, which began Monday.
A vote to pass the bill from the Senate is expected late Monday or early Tuesday. From there, it will have to pass through the House again before arriving at Trump’s desk for his signature.
