Chairman Arrington discusses meeting with Treasury Secretary Bessent on Mornings with Maria
WASHINGTON, D.C.- This morning, Chairman Jodey Arrington (R-Texas) joined Mornings with Maria on Fox Business to discuss the House Budget Committee’s meeting with Treasury Secretary Scott Bessent on the historic reforms and record tax relief for working families enacted in the One Big Beautiful Bill and the strong economic progress of the Trump Administration’s pro-growth policies.
On pro-growth economic policies with Secretary Bessent
It was a great meeting. The Secretary was kind to applaud the work of a lot of budget hawks that were pushing to bend that curve on spending, which has the benefits of strengthening the economy, putting downward pressure on interest rates and prices and actually looks into the future to make sure that we're not just doing well by the voters of today, but our children and grandchildren into the future.
Which is why we all celebrated that the deficit to GDP has gone down for the first time in a decade if you control for COVID and why the bond markets are responding. That's a key indicator. They have confidence in our fiscal constraint and our plan for growing the economy. So, all things very positive there.
And we talked about the progress made from the pro-growth, pro-energy, pro-work policies of the Big Beautiful Bill. Prices are coming down along with interest rates, both short and long-term. Real wages are going up, business investment going up. And of course, in the [next] calendar year, you'll have the largest refund checks, and according to Piper Sandler, about $200 billion in tax relief for reduced withholdings, more money in people's pockets in their bank accounts. Everything is looking good, and it's only building momentum month by month.
On paying down the national debt and strengthening America’s balance sheet
I think what happened with the Trump policies in the first term is, not only did we have record investment and job growth, but we had record wage and income increases. I think that's the best way to put money in people's pockets— trust our good pro-growth policies and get good fundamentals in the economy. And look, we have record revenue coming in from tariffs that is helping our fiscal prospects. That's helping the economy, but it's also strengthening the health of America's balance sheet.
What we ought to do is keep paying down the debt. The dividend check should be to our children and grandchildren as restitution for the intergenerational theft for all these years and the $38 trillion and counting in debt that's completely unsustainable.
Maria, that is the right way to do it and it will have the benefits again of downward pressure on prices and strengthening the economy because it will stop crowding out so much private capital on account of the almost $2 trillion in annual borrowing.
