Trump-backed bill will create an economic boom: Kevin Hassett

About this Video

• Video Title: Trump-backed bill will create an economic boom: Kevin Hassett
• Channel: Fox Business
• Speakers: Larry Kudlow (likely, though not explicitly named), Kevin Hassett
• Duration: 00:06:14

Introduction

This Fox Business interview features Kevin Hassett discussing a Trump-backed bill. Hassett, involved in the bill's negotiation, predicts it will pass the House and Senate, creating a significant economic boom. He counters concerns about its cost by highlighting projected revenue increases exceeding the bill's expenses.

Key Takeaways

• Significant Economic Growth Predicted: Hassett forecasts substantial economic growth, unlike anything seen before, resulting from the bill's passage. He specifically mentions 3% growth.
• Revenue Projections Exceed Costs: The bill is projected to increase revenue by over $4 trillion in the next ten years, surpassing its estimated costs.
• Growth Reduces Spending: Economic growth is argued to reduce government spending on programs like welfare due to lower unemployment and increased tax revenue.
• Benefits for Middle- and Working-Class Families: The bill is presented as beneficial for the middle class, specifically highlighting potential wage increases (estimated at $4,000-$8,000 per family in a previous tax cut) and overtime pay provisions.
• Overtime Pay Provisions: A key feature of the bill is increased overtime pay, which is expected to significantly benefit working-class families.