Treasury Secretary Pushes for Global Minimum Tax Agreement

Scott Bessent, the United States Treasury Secretary, is pushing for a key international tax agreement. According to International Tax Review, he urged countries opposing the United States and Organization for Economic Cooperation and Development side-by-side pillar two arrangement to join the consensus and finalize a deal this week. Pillar two aims to ensure large multinational companies pay a minimum fifteen percent tax globally.

Fox Business reports that Bessent is advocating a major deregulatory overhaul. He wants to unlock trillions of dollars in credit by easing financial rules, as stated in a recent video interview. This move supports President Trump's economic agenda.

Bessent also issued a warning on trade policy. Fox Business notes he told Mornings with Maria that a Supreme Court ruling on tariffs could risk national security. He stressed the need for strong tariff measures to protect American interests.

On the official Treasury website, Bessent spoke before the Financial Stability Oversight Council on December eleventh. He addressed risks to the banking system and outlined steps for stability amid market changes.

These actions highlight Bessent's focus on tax reform, deregulation, and safeguarding United States economic security in his early days as Treasury Secretary.

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