Bessent Explains How Domestic and Foreign Investment Will Be Incentivized Through Tax Bill

Leah Barkoukis | April 29, 2025 9:45 AM

Treasury Secretary Scott Bessent said the tax bill is moving forward at a better pace than he anticipated due to President Trump’s leadership.

The legislation will give permanence to the Tax Cuts and Jobs Act of 2017 and provide greater certainty to businesses and the American people, he said Tuesday during a briefing where Press Secretary Karoline Leavitt touted the administration’s economic achievements during the first 100 days in office.

🚨 @PressSec Karoline Leavitt:

"President Trump has secured more investments in the United States of America in 100 days than Joe Biden did in four years."

That's a HUGE change from the last guy.

"President Trump is America's businessman in chief, and that's why these… pic.twitter.com/L1mz6qpyxm
— Townhall.com (@townhallcom) April 29, 2025

🔥 "President Trump's efforts are working!"

Press Secretary Karoline Leavitt just dropped some BANGER stats on Trump's First 100 Days:

"345,000 jobs have already been added since the start of President Trump's term. Last month's jobs report saw nearly 100,000 more jobs than… pic.twitter.com/NI04pgFqE9
— Townhall.com (@townhallcom) April 29, 2025

“I think what we’re seeing is business leaders, they’ve gone into a pause, and I think we’re going to give them great certainty on this tax bill and I think over the next couple weeks, as I said, we have 18 important trading relationships, we’ll put China to the side, 17 are in motion and then as I said yesterday I think there’s a very good chance we’re gonna get this tax bill done,” Bessent said.

“The tax bill is going to be very powerful for domestic U.S. investments,” he continued. “So what we’re going to do, one of the most powerful parts of President Trump’s 2017 tax bill was full expensing of equipment. We’re going to make that … that will be retroactive to Jan. 20 and the other thing that we are looking to add is full expensing for factories, so bring your factory back, you can fully expense the equipment and the building. We will couple that with deregulation, cheap energy, and regulatory certainty and that will continue to make the U.S. the greatest destination for domestic and foreign investment.”