Bessent: If the Democratic Party wins the midterm elections, the Trump administration will accelerate deficit reduction plans

US Treasury Secretary Besson said that if the Democratic Party regains control of either house in the November midterm elections, the Trump administration will push Congress to pass a plan to reduce the federal budget deficit by the end of the year. Benson is working with Vought, the director of the US Office of Management and Budget, to develop a fiscal consolidation plan. If the Democratic Party wins, the government will accelerate the implementation of the plan between the post election period and January 3, 2027.