Trump’s Tax Cut Risks Getting Canceled Out by Energy Price Surge
Treasury Secretary Scott Bessent says 2025 was about setting the table for the US economy and this year was supposed to be the “banquet.”
A diesel fuel pump at a Chevron gas station in Seattle on March 9.
Photographer: M. Scott Brauer/BloombergThis article is for subscribers only.
I’m Chris Anstey , an economics editor in Boston. Today we’re looking at the effective tax hike US households face from higher energy costs. Send us feedback and tips to ecodaily@bloomberg.net . And if you aren’t yet signed up to receive this newsletter, you can do so here .
Treasury Secretary Scott Bessent likes to say that 2025 was about setting the table for the US economy — putting all the policy pieces in place, from the sweeping tax-cut act to deregulation to investment deals with countries around the world and a tariff wall to encourage domestic output.