US Treasury Secretary Vincent Bescent says taxing the rich "anything is possible"

Republicans are considering all options to deliver on the tax cuts President Trump promised during his campaign, including increasing taxes on wealthy Americans, said Scott Bescent, US Treasury secretary. "We'll see where the president stands on this," Mr. Bescent said in an interview during a trip to Argentina on Monday. "Everything is on the table." Mr. Bescent said he and his counterparts in the administration and Congress were working on "fine-grained" legislation that would extend and potentially expand Mr. Trump's 2017 tax cuts, many of which are due to expire at the end of the year. "We have a broad consensus that we will build on," Mr. Bescent said. Earlier this month it was reported that Republicans were considering a new tax bracket for people earning $1 million or more. The deteriorating economic outlook has also increased pressure on lawmakers to speed up tax negotiations.