Headline: Unraveling the Trump Administration's Economic Agenda: Treasury Secretary Bessent's Sweeping Policy Shifts

Treasury Secretary Scott Bessent has been making significant policy announcements over the past few days that reflect the Trump administration's priorities on immigration, financial system access, and economic support.

On Friday, November 28th, Bessent announced a major crackdown on federal benefits for undocumented immigrants. The Treasury Department will issue proposed regulations to cut off refunded portions of several key tax credits including the Earned Income Tax Credit, the Additional Child Tax Credit, the American Opportunity Tax Credit, and the Saver's Match Credit for individuals in the country illegally. Bessent emphasized that these benefits should be preserved exclusively for United States citizens, stating that illegal aliens have no place in the American financial system. He also announced efforts to prevent undocumented immigrants from using financial institutions to move funds, calling such activity exploitation that will end.

These announcements came in response to President Trump's Thanksgiving declaration to pause migration from third world countries and his promise to end all federal benefits and subsidies to noncitizens. Trump cited census data indicating the United States hosts a foreign population of 53 million people.

Beyond immigration policy, Bessent has been involved in broader economic initiatives. The Treasury Secretary has been leading the interview process for candidates to lead the Federal Reserve, with the president set to meet with finalists soon. Additionally, Bessent has announced plans to prioritize digital assets within the administration's financial policy framework.

On the domestic front, Bessent has promoted proposed two thousand dollar tariff checks aimed at working families as part of the administration's affordability agenda. He has credited the president's deregulation and pro private sector policies for lowering inflation and raising real incomes. The administration has highlighted selective economic wins, including an eighty six percent drop in egg prices and nearly fourteen percent reduction in housing costs since Trump took office.

The Treasury Secretary also played a central role in a controversial currency support package for Argentina. In September, Bessent publicly promised Argentina large and forceful American support, followed by Treasury announcements of a twenty billion dollar currency swap and subsequent additional support totaling up to forty billion dollars. These actions occurred as Argentina faced political challenges, with President Javier Milei's party trailing in elections. Trump explicitly tied the bailout to Argentina's electoral outcome, stating if Milei won, the United States would stay with him, otherwise they would be gone. After the October election, Milei's party won decisively, raising questions about the relationship between the financial support and electoral intervention.

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