No Result
View All Result
  • Login
Tuesday, May 26, 2026
FeeOnlyNews.com
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
No Result
View All Result
FeeOnlyNews.com
No Result
View All Result
Home Business

‘Maya MacGuineas should be ashamed’: Scott Bessent launches war of words with the nonpartisan think tank that agrees with Trump on tariffs

by FeeOnlyNews.com
3 months ago
in Business
Reading Time: 3 mins read
A A
0
‘Maya MacGuineas should be ashamed’: Scott Bessent launches war of words with the nonpartisan think tank that agrees with Trump on tariffs
Share on FacebookShare on TwitterShare on LInkedIn



Trump administration officials have had harsh words for anyone choosing to criticize the efficacy or legality of the president’s sweeping tariff program. As it turns out, even some pro-tariff voices won’t be spared.

Appearing Sunday on Fox News, Treasury Secretary Scott Bessent turned a debate over tariff revenue into yet another admonishment, only this time, the target of his ire had recently turned out championing the role of tariffs in improving the country’s fiscal outlook. 

“Maya MacGuineas should be ashamed,” Bessent said, referring to the president of the Committee for a Responsible Federal Budget, a nonpartisan organization that provides frequent updates on the country’s fiscal health and national debt outlook.

MacGuineas has spent much of the past week addressing the possible fiscal consequences of the Supreme Court’s ruling Friday that Trump’s “emergency” tariffs were in fact illegal. Not having those tariffs in place amounts to around $2 trillion added to the national deficit over the next decade, according to CRFB research, and could push the national debt upwards to 131% of GDP by 2036 instead of 120% as previous baselines projected. 

The CRFB has called for measures to replace Trump’s levies with other mechanisms to minimize revenue loss. But it wasn’t enough for Bessent, who took the opportunity Sunday to shoot the messenger. 

“They should take the word ‘responsible’ out of her organization’s name,” he said. “Tariff revenue will be unchanged this year and will be unchanged in the future.”

The friction began when Fox News host Maria Bartiromo cited CRFB’s analysis, which also suggested ways the U.S. could offset the tariffs ruled out by the Supreme Court, including border-adjusted taxes. Bessent pushed back against the numbers produced by CRFB, calling MacGuineas “wrong” and asserting that revenue projections would not change under the replacement tariffs that Trump announced following the court’s ruling.

In a statement rebutting Bessent’s criticism, MacGuineas called his diatribe “a bit of an odd response,” noting that their analysis was actually in alignment with the administration’s stated goals. MacGuineas pointed out that CRFB has publicly touted the fiscal benefits of tariffs, calling the soaring revenue a “bright spot in an otherwise gloomy fiscal picture.” She also welcomed the administration’s urgent push to replace tariffs with other mechanisms to maintain revenues.

CRFB has previously recommended policies that would likely fall on flat ears in the Trump administration. The organization has characterized Trump’s One Big Beautiful Bill Act, passed last year, as an “economic sugar high” of voracious spending and generous tax breaks, one that would add anywhere between $19 trillion and $32 trillion to the national debt over 30 years.

Two of the CRFB’s recommendations to replace lost tariff revenue were classic budget prescriptions: either scale back tax cuts or reduce spending, directly referring to Trump’s signature policy package.

Trump has moved fast to replace the “emergency” tariffs. After last week’s ruling, he first announced 10% tariffs across the board lasting 150 days, under authority granted from the 1974 Trade Act. He then ratcheted that up to 15% over the weekend, indicating additional levies would soon follow. Those duties are scheduled to kick in shortly after midnight on Tuesday. 

But temporary replacement tariffs might not be enough to satisfy MacGuineas and CRFB. In her response to Bessent she acknowledged that some form of tariff revenue would improve the country’s fiscal outlook, but added that doing so “will require not only replacing lost tariff revenue, but pursuing significant additional spending cuts and/or revenue.”



Source link

Tags: agreesashamedBessentLaunchesMacGuineasMayanonpartisanScotttanktariffsTrumpWarWords
ShareTweetShare
Previous Post

How long does it take to build credit from scratch?

Next Post

10 Dividend Stocks For Perpetually Growing Retirement Income

Related Posts

Trump Lays Wreath, Speaks at Arlington National Cemetery on Memorial Day

Trump Lays Wreath, Speaks at Arlington National Cemetery on Memorial Day

by FeeOnlyNews.com
May 26, 2026
0

President Donald Trump laid a wreath at the tomb of the unknown Soldier in Arlington National Cemetery on Monday, marking...

Sam Altman and Dario Amodei are both walking back AI jobs apocalypse predictions as they eye IPOs

Sam Altman and Dario Amodei are both walking back AI jobs apocalypse predictions as they eye IPOs

by FeeOnlyNews.com
May 26, 2026
0

Two of the most influential CEOs in tech spent the last year warning that AI would gut white-collar employment. Now...

Highest and lowest quant-rated Communication Services stocks above B cap after earnings season (TTD:NASDAQ)

Highest and lowest quant-rated Communication Services stocks above $10B cap after earnings season (TTD:NASDAQ)

by FeeOnlyNews.com
May 26, 2026
0

May 26, 2026, 1:17 PM ETThe Trade Desk, Inc. (TTD) Stock, TME Stock, FOX Stock, AMX Stock, WMG Stock, RDDT...

Standard Chartered CEO apologizes for calling some workers ‘lower value human capital’ in AI push

Standard Chartered CEO apologizes for calling some workers ‘lower value human capital’ in AI push

by FeeOnlyNews.com
May 26, 2026
0

The baby boomer bank leader took to LinkedIn to admit that his words had unnerved some of his coworkers. “I...

AI forces Israeli unicorn BigID to lay off 150

AI forces Israeli unicorn BigID to lay off 150

by FeeOnlyNews.com
May 26, 2026
0

Israeli unicorn BigID, which received a valuation of $1 billion two years ago, has joined the wave of tech...

Duniec, Dan Real Estate mull NIS 4b merger

Duniec, Dan Real Estate mull NIS 4b merger

by FeeOnlyNews.com
May 26, 2026
0

Listed company Duniec Bros. (TASE: DUNI) and privately-held Dan Real Estate are in talks on a share-swap merger deal,...

Next Post
10 Dividend Stocks For Perpetually Growing Retirement Income

10 Dividend Stocks For Perpetually Growing Retirement Income

5 Money Moves You Should Resist Even When the Pressure Is On

5 Money Moves You Should Resist Even When the Pressure Is On

  • Trending
  • Comments
  • Latest
10 States Offering Free or Low‑Cost College Courses for Residents Over 60

10 States Offering Free or Low‑Cost College Courses for Residents Over 60

May 13, 2026
The New Medicare Coding Change Confusing Pharmacies Across Multiple States

The New Medicare Coding Change Confusing Pharmacies Across Multiple States

May 11, 2026
Week 14: A Peek Into This Past Week + What I’m Reading, Listening to, and Watching!

Week 14: A Peek Into This Past Week + What I’m Reading, Listening to, and Watching!

April 6, 2026
Memorial Day 2026: Take Advantage of Food Freebies, Deals

Memorial Day 2026: Take Advantage of Food Freebies, Deals

May 23, 2026
Latam Insights: Coinbase Co-Founder Eyes Venezuela as Grupo Salinas Embraces Stablecoins

Latam Insights: Coinbase Co-Founder Eyes Venezuela as Grupo Salinas Embraces Stablecoins

May 17, 2026
The 18 Largest US Funding Rounds of April 2026 – AlleyWatch

The 18 Largest US Funding Rounds of April 2026 – AlleyWatch

May 15, 2026
Sam Altman and Dario Amodei are both walking back AI jobs apocalypse predictions as they eye IPOs

Sam Altman and Dario Amodei are both walking back AI jobs apocalypse predictions as they eye IPOs

0
A battle is brewing in the gold pits. Here are the winners and losers

A battle is brewing in the gold pits. Here are the winners and losers

0
Hyperliquid Launches Prediction Markets With Validator-Based Settlement

Hyperliquid Launches Prediction Markets With Validator-Based Settlement

0
5 Grocery Costs Quietly Hitting Seniors Hardest Before Summer — From Meat Prices to Digital Coupon Barriers

5 Grocery Costs Quietly Hitting Seniors Hardest Before Summer — From Meat Prices to Digital Coupon Barriers

0
Trump Lays Wreath, Speaks at Arlington National Cemetery on Memorial Day

Trump Lays Wreath, Speaks at Arlington National Cemetery on Memorial Day

0
ECB inflation outlook: Villeroy says bank ready to act

ECB inflation outlook: Villeroy says bank ready to act

0
5 Grocery Costs Quietly Hitting Seniors Hardest Before Summer — From Meat Prices to Digital Coupon Barriers

5 Grocery Costs Quietly Hitting Seniors Hardest Before Summer — From Meat Prices to Digital Coupon Barriers

May 26, 2026
Trump Lays Wreath, Speaks at Arlington National Cemetery on Memorial Day

Trump Lays Wreath, Speaks at Arlington National Cemetery on Memorial Day

May 26, 2026
Sam Altman and Dario Amodei are both walking back AI jobs apocalypse predictions as they eye IPOs

Sam Altman and Dario Amodei are both walking back AI jobs apocalypse predictions as they eye IPOs

May 26, 2026
A battle is brewing in the gold pits. Here are the winners and losers

A battle is brewing in the gold pits. Here are the winners and losers

May 26, 2026
7 Social Security Rules That Married Couples Should Know

7 Social Security Rules That Married Couples Should Know

May 26, 2026
Pundit Points Out Major Mistake Being Made With The XRP Pricing

Pundit Points Out Major Mistake Being Made With The XRP Pricing

May 26, 2026
FeeOnlyNews.com

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Financial Planning
  • Investing
  • Market Analysis
  • Markets
  • Money
  • Personal Finance
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • 5 Grocery Costs Quietly Hitting Seniors Hardest Before Summer — From Meat Prices to Digital Coupon Barriers
  • Trump Lays Wreath, Speaks at Arlington National Cemetery on Memorial Day
  • Sam Altman and Dario Amodei are both walking back AI jobs apocalypse predictions as they eye IPOs
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclaimers
  • About Us
  • Contact Us

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.