US Treasury Secretary Scott Bessent said that if the Democratic Party wins either house of Congress in the November midterm elections, the Trump administration will try to push Congress to pass a plan to reduce the federal budget deficit before the end of this year. Bessent said he is working with Russ Vought, director of the White House Office of Management and Budget, to develop a fiscal consolidation plan that could reduce the US federal budget deficit. Bezent said that if the Democratic Party wins the midterm elections, “we will have to rush to pass it during the Lame Duck session without being able to spend more time.” The lame duck session he mentioned refers to a period of about two months between the November 3 election and the inauguration of new members of the National Assembly on January 3, 2027.

US Treasury Secretary Scott Bessent said that if the Democratic Party wins either house of Congress in the November midterm elections, the Trump administration will try to push Congress to pass a plan to reduce the federal budget deficit before the end of this year. Bessent said he is working with Russ Vought, director of the White House Office of Management and Budget, to develop a fiscal consolidation plan that could reduce the US federal budget deficit. Bezent said that if the Democratic Party wins the midterm elections, “we will have to rush to pass it during the Lame Duck session without being able to spend more time.” The lame duck session he mentioned refers to a period of about two months between the November 3 election and the inauguration of new members of the National Assembly on January 3, 2027.