U.S. Treasury Secretary Bessent Says He Is Working on Fiscal Plan to Cut the Deficit

U.S. Treasury Secretary Scott Bessent said he is working with White House Office of Management and Budget Director Russell Vought on a fiscal consolidation plan to further reduce the deficit. According to Sina Finance, Bessent also discussed what could happen to the fiscal plan if Democrats win the midterm elections, saying it would have to be rushed through during the lame-duck session after the November elections and before the new Congress is sworn in on January 3.