Treasury Secretary Scott Bessent attacked Democratic-led states for passing laws to decouple their tax codes from some of the personal income tax breaks in President Donald Trump’s signature tax law enacted in July.
Bessent in a statement Wednesday singled out “liberal strongholds” like Colorado, Illinois, and the District of Columbia for “deliberately blocking their own residents from receiving these historic benefits at the state level.” Those states decoupled from at least one personal income provision in the federal law that excluded tipped income and overtime pay from taxes and allowed seniors to claim a new deduction.
- Bessent also criticized New ...
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