Bessent Touts Trade, Tax and Energy Policy Gains

Treasury Secretary Scott Bessent described administration policies on trade, taxes, energy and deregulation as extending prosperity to Main Street.

Updated on Nov. 13, 2026 in Economic Policy

Wide photograph of a bare steel rail spur leading to a plain manufacturing plant on flat open land under overcast skies. — Treasury Secretary Scott Bessent said on November 12 that trade deals are bringing manufacturing back to the United States and that Treasury has registered 70 million children for Trump accounts. AI Illustration. Upload story photo >

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Speaking in a Daily Signal discussion on November 12, 2025, Treasury Secretary Scott Bessent said trade agreements are bringing manufacturing back to the United States and that tax legislation provides permanent 100% immediate expensing for equipment. Treasury reported 70 million children registered for Trump accounts, with about 8 million to 9 million claimed.

Why it matters

Bessent's remarks frame a set of economic policies as broadening household participation in equities and reviving community and small banks. The figures he cited offer a basis for assessing how those policies are meant to reach ordinary households.

Treasury reported 70 million children registered for Trump accounts, with about 8 million to 9 million claimed, while 38% of Americans own no stocks directly or through a 401k. The administration said it removed 120 regulations for every new one, exceeding its target of 12, and it is unclear how many registered accounts will ultimately be funded.

The players

Scott Bessent

Scott Bessent is the U.S. Treasury Secretary who oversees the nation's fiscal and financial policy and the Trump accounts program.

Elon Musk

Elon Musk is the founder and chief executive of SpaceX and Tesla, known for his high-profile business ventures.

The details

Bessent said children born during Trump's second term receive a $1,000 seed investment from Treasury, and parents or families can contribute up to $5,000 a year while employers can add $2,500. He also said 85% of seniors pay no tax on Social Security benefits and that the tax law exempts tips and overtime from taxes.

November 12, 2025: Bessent speaks at a Daily Signal discussion.
January: Elon Musk is to give one SpaceX share to each of the 70 million accounts, according to the source.
2030: A new refinery in Brownsville, Texas is expected to be completed.

Economic Policy Context

The permanent 100% immediate expensing for equipment described by Bessent extends the business investment incentives first introduced under the 2017 Tax Cuts and Jobs Act. Framing the change as permanent marks a shift from the temporary expensing schedule that originally accompanied that law.

Households with children may be eligible for a $1,000 Treasury seed investment and can direct up to $5,000 a year into a Trump account, with employers able to add $2,500. Workers earning tips or overtime may see those amounts exempt from federal taxes under the new legislation.

The takeaway

Families weighing a child's account should check the contribution limits and eligibility rules directly, since the figures cited so far come from official statements rather than final account balances.