By — Associated Press Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/watch-live-treasury-secretary-bessent-testifies-on-the-white-houses-2026-budget-request Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter WATCH: Treasury Secretary Bessent testifies on the White House’s 2026 budget request Economy Updated on May 6, 2025 3:56 PM EDT — Published on May 6, 2025 10:10 AM EDT Treasury Secretary Scott Bessent testified on Capitol Hill Tuesday for the first time since his confirmation in January. Watch in the video player above. On the table for questions were tariffs, taxes, layoffs at the IRS, Department of Government Efficiency access to IRS data, national finances and more. READ MORE: Trump threatens 100 percent tariff on foreign-made films, saying domestic movie industry is dying Bessent said the U.S. and China “have not engaged in negotiations” but “as early as this week” the U.S. will be announcing trade deals with some of the U.S.′ largest trading partners. Bessent also spoke about America’s upcoming default date — what officials are calling the “X-date.” “Just as an outfielder running for a fly ball, we are on the warning track. When you’re on the warning track, it means the wall is not that far away,” he said. He added, however, that the U.S. “will not default.” We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now By — Associated Press Associated Press
Treasury Secretary Scott Bessent testified on Capitol Hill Tuesday for the first time since his confirmation in January. Watch in the video player above. On the table for questions were tariffs, taxes, layoffs at the IRS, Department of Government Efficiency access to IRS data, national finances and more. READ MORE: Trump threatens 100 percent tariff on foreign-made films, saying domestic movie industry is dying Bessent said the U.S. and China “have not engaged in negotiations” but “as early as this week” the U.S. will be announcing trade deals with some of the U.S.′ largest trading partners. Bessent also spoke about America’s upcoming default date — what officials are calling the “X-date.” “Just as an outfielder running for a fly ball, we are on the warning track. When you’re on the warning track, it means the wall is not that far away,” he said. He added, however, that the U.S. “will not default.” We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now