NEC Director Hassett: We're on track for the 'big beautiful bill' to pass the Senate

Tax and Spending Bill - The administration aims to pass the tax and spending bill, potentially leading to significant economic changes [1][2] - The Congressional Budget Office (CBO) estimates the Senate bill will increase the deficit by $33 trillion (3300 billion) from 2025 to 2034, a figure the National Economic Council Director disagrees with [3][4] - The administration projects that achieving 3% growth, instead of 18% (1.8%), would add $4 trillion to revenue, potentially making the bill a deficit reducer [4] - The administration plans to send discretionary spending cuts to the Senate, potentially amounting to $160 billion this year [5] Economic Growth and Impact - The administration believes the bill relies on the economy moving up to 3% growth, driven by factors like no tax on overtime for 90 million American hourly workers [6][7] - The Council of Economic Advisers projects the bill will increase income for the typical American family by $10000 [8] Energy Policy - The administration supports an "all of the above" approach to energy production, including coal, natural gas, oil, and nuclear, to support AI and other sectors [10][11] - The administration prioritizes grid security, suggesting that solar and wind energy must pass a market test and not compromise grid reliability [15] Trade and International Tax - The administration expects digital services taxes around the world to be removed as part of ongoing trade negotiations [20] - The G7 countries have agreed not to have the so-called pillar 2 tax (global minimum tax) [21] - The administration has double-digit trade deals with frameworks nearly agreed to, with potential tariff rate adjustments to be determined [23]