Scott Bessent, US treasury secretary, during the Federal Reserve Board Community Bank Conference in Washington, DC, US, on Thursday, Oct. 9, 2025. The conference focuses on key issues facing the community bank sector. Photographer: Eric Lee/Bloomberg ” data-medium-file=”https://i0.wp.com/ragingpatriotnews.org/wp-content/uploads/2025/12/499033.jpg?fit=300%2C200&ssl=1″ data-large-file=”https://i0.wp.com/ragingpatriotnews.org/wp-content/uploads/2025/12/499033.jpg?fit=740%2C494&ssl=1″ />
Treasury Secretary Scott Bessent says working Americans will soon see tangible tax relief through larger refunds and higher take-home pay, a shift he says will drive down inflation and restore affordability after years of Biden-era economic pressure.
Bessent said Treasury estimates show first-quarter tax refunds averaging between $1,000 and $2,000 per household, driven by updated withholding tables and Trump-backed tax relief measures.
He said those refunds alone could inject tens of billions of dollars back into the economy in early 2026, directly benefiting middle- and working-class families.
Speaking on Mornings with Maria, Bessent said the Trump administration is focused on letting Americans keep more of what they earn instead of expanding federal spending.
“We should think that 2025 was setting the table,” Bessent said. “2026 is going to be a bountiful year, if the Democrats don’t shut down the government.”
Bessent said real disposable income is already rising, with Treasury data showing wages beginning to outpace inflation after years of negative real wage growth under Biden.
From 2021 through 2024, inflation averaged roughly 5 percent annually, while real wages were flat or negative for most workers, according to federal labor data.
Bessent warned that Democrats could derail progress by forcing a government shutdown in January, pointing to past shutdowns that shaved an estimated 0.2 to 0.4 percentage points off quarterly GDP.
The longest shutdown on record slowed investment, delayed federal payments, and disrupted private-sector growth, impacts Bessent said the economy cannot afford as momentum builds.
Despite lingering headwinds, Bessent said the U.S. is still on track to finish the year with approximately 3.5 percent GDP growth, well above the long-term average of around 2 percent.
He said that growth reflects a rebound in capital formation, with private investment increasing as regulatory burdens ease.
Bessent argued that Trump’s tax, energy, and deregulation agenda is reversing what he called the worst inflation in 50 years, which peaked above 9 percent under Biden.
Treasury and housing data show rent inflation slowing sharply, with some metro areas posting flat or negative year-over-year rent growth for the first time in years.
“Rents are down,” Bessent said, calling housing one of the clearest indicators that affordability pressure is easing.
He blamed Biden-era mass immigration for intensifying housing shortages, noting that millions of new arrivals increased demand without corresponding increases in supply.
Bessent said President Trump’s enforcement actions, including the removal of more than 2 million illegal immigrants, have reduced pressure on rental markets.
He said border enforcement is now functioning as an affordability policy by easing competition for housing, especially in working-class neighborhoods.
Energy prices have also fallen, with gasoline prices down significantly from Biden-era highs, feeding into lower transportation and shipping costs.
Bessent said energy accounts for a large share of household inflation, and lowering those costs has a multiplier effect across the economy.
Treasury data show that real wages for production and nonsupervisory workers are now rising, reversing years where inflation erased pay gains.
Bessent said that matters most for lower-income households, which spend a higher share of income on essentials like housing, food and energy.
He also pointed to broader stock market participation beyond Big Tech, with industrials, financials, and domestic manufacturing showing strong gains.
Bessent said that shift reflects renewed confidence in U.S. production rather than speculation tied to federal spending.
He rejected claims that economic growth itself drives inflation, arguing instead that inflation occurs when supply is artificially constrained.
“Growth does not create inflation,” Bessent said. “Friction creates inflation when demand outpaces supply.”
He said deregulation under President Trump is expanding supply across housing, energy, credit, and manufacturing, easing those bottlenecks.
Bessent concluded that if Republicans keep the government open and allow Trump’s policies to continue, 2026 could mark a return to sustained, non-inflationary growth.
Lower-income and working-class households, he said, are positioned to benefit the most as prices stabilize, wages rise, and tax relief reaches Main Street.
“Main Street and Wall Street can both do well,” Bessent said. “My guess is both have a very good year next year.”
BREAKING: Anna Paulina Luna Claims The Biden DOJ DESTROYED…
Representative Anna Paulina Luna has leveled explosive information against the Biden Department of Justice, claiming that critical materials related to the Jeffrey Epstein investigation have been deliberately destroyed.
This assertion, if proven true, would represent one of the most damning instances of governmental obstruction and cover-up in recent history.
Luna, who chairs a congressional task force focused on federal transparency, has stated unequivocally that she possesses evidence implicating high-ranking officials in the DOJ.
According to her, these officials not only failed to disclose materials related to Epstein but actively destroyed them to conceal the extent of powerful individuals’ involvement in Epstein’s criminal network.
She introduced legislation titled the SHRED Act, aimed at imposing severe penalties on government agents who destroy or conceal federal records. The proposed bill calls for 20 years to life in prison for anyone caught eliminating evidence in cases of national significance.
“Even if they are conducting a criminal investigation, you should probably pick up the phone and call us,” Luna told Fox News. “We have been more than patient.”
These developments come amid growing conservative suspicion that the Biden administration has no interest in unmasking Epstein’s full network. The notion that key records could be gone forever only intensifies fears that justice is being buried under a bureaucratic rug.
Luna’s office has reportedly sent multiple requests to the Department of Justice demanding clarity on the handling of Epstein-related materials. So far, those inquiries have been met with either vague responses or complete silence.
The congresswoman did not mince words in her public statements, suggesting that the DOJ’s behavior constitutes a deliberate act of obstruction. If true, such actions could violate federal law and trigger an entirely new legal battle.
“The Biden DOJ has obstructed Congress, ignored subpoenas, and now appears to have destroyed critical evidence,” Luna said. “This is corruption at the highest level.”
Critics argue that this is yet another example of double standards in Washington. “Had this been a Republican-led DOJ accused of destroying documents in a child sex trafficking case, the media would be apoplectic,” one conservative commentator noted.
For years, the Epstein case has symbolized the deep rot within America’s elite circles. The financier’s suspicious death in prison and the subsequent lack of high-profile indictments have fueled accusations of a widespread cover-up.
Now, Luna’s allegations breathe new life into those concerns. If records were indeed destroyed, the implications are profound. It would mean that the DOJ, under Biden, actively shielded criminals from justice.
What’s more troubling is that these destroyed materials could have named prominent individuals—politicians, celebrities, and global financiers—who participated in or enabled Epstein’s crimes.
In this context, Luna’s SHRED Act isn’t just legislative symbolism. It is a clarion call for accountability in an era marked by elite impunity. Her bill seeks to ensure that future officials think twice before erasing truth from the historical record.
Despite Luna’s repeated calls for transparency, there has been no formal response from Attorney General Merrick Garland. The silence speaks volumes to many who believe the DOJ is stonewalling on purpose.
Meanwhile, conservative lawmakers have rallied behind Luna. A growing number of Republicans in the House and Senate are voicing support for investigations into the DOJ’s handling of Epstein evidence.
Some have even floated the idea of appointing a special counsel to probe the matter independently. Given the stakes, such a move may be the only path forward to restore public confidence.
This latest scandal further erodes the credibility of an already battered Department of Justice. From the Hunter Biden laptop fiasco to the political targeting of conservatives, the agency has been repeatedly accused of partisanship.
Now, with Epstein documents allegedly destroyed, the DOJ’s credibility is in tatters. Public trust, once broken, is hard to rebuild.
The American people deserve the truth. And if Luna’s allegations are accurate, they deserve justice, no matter how high the guilty parties sit.
BREAKING: Tom Homan Reveals an Investigation is Underway Into AOC For…
Border Czar Tom Homan confirmed that a federal investigation is underway into Rep. Alexandria Ocasio-Cortez for allegedly employing a criminal illegal alien and helping others evade federal immigration authorities.
Speaking from his post as one of President Trump’s top immigration officials, Homan revealed that ICE has launched a formal probe after multiple allegations emerged against the congresswoman.
“This is a live federal investigation. We’ve asked ICE to take immediate action,” Homan said during a televised interview.
The individual in question is reportedly an undocumented alien with a criminal record, unlawfully hired by AOC’s office.
According to internal reports, the employee had multiple encounters with law enforcement and should have been deported years ago.
Homan stressed that AOC’s potential interference with ICE operations could amount to obstruction of justice.
“This goes beyond hiring an illegal alien. There’s evidence she actively helped shield this person from deportation,” he stated.
Conservative leaders are sounding the alarm, warning that this may be only the tip of the iceberg when it comes to far-left officials flouting immigration laws.
AOC has long been known for championing sanctuary cities and attacking border agents, often labeling them as “racist” and “oppressors.”
Now, critics say her reckless rhetoric has crossed over into potentially criminal behavior.
“If a sitting congresswoman used her office to harbor an illegal alien, that’s a clear violation of federal law,” Homan declared.
Sources inside ICE say agents have already gathered documentation and begun interviewing individuals connected to the case.
Evidence suggests AOC may have leveraged her political power to block enforcement action against the individual she employed.
House Republicans are demanding accountability, with several calling for a formal ethics investigation into her conduct.
“This is what happens when radicals gain power. They think the law doesn’t apply to them,” said Rep. Andy Biggs.
Democrats quickly circled the wagons, accusing Homan of launching a political smear campaign.
But Homan stood firm, reminding the public that the law is the law and political office offers no immunity from prosecution.
“This isn’t about politics. It’s about national security and public trust,” he said.
Homan emphasized that ICE agents are working independently and that the White House is not interfering in the investigation.
“We are following the facts. If those facts point to criminal activity, then action will be taken,” Homan confirmed.
Legal experts say AOC could face charges ranging from unlawful employment to obstruction of federal agents, depending on the evidence.
Citizens outraged by the news are demanding swift justice and a full public accounting of the congresswoman’s actions.
Homan urged Americans not to let political ideology blind them to the seriousness of the allegations.
“We must restore the rule of law,” he concluded. “No one, no matter how powerful, is above it.