Bloomberg Talks US Senator Bill Hagerty of Tennessee Talks 'Big Beautiful Bill'
Jun 4, 2025
US Senator Bill Hagerty from Tennessee, a former ambassador and business executive, delves into the 'Big Beautiful Bill' aimed at boosting U.S. economic growth. He critiques the Congressional Budget Office's static analysis of the bill's potential deficit impacts. The conversation covers essential legislative dynamics around tariffs and tax breaks, advocating for economic stability to inspire investment. Hagerty also addresses the urgency of stablecoin legislation and U.S. leadership in global security, particularly regarding Iran and Ukraine.
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Economic Growth through Investment
- The key goal is to stimulate more capital investment in America to drive growth and jobs.
- The Congressional Budget Office underestimates the economic benefits and revenue gains of pro-growth tax policy.
Limitations of CBO Projections
- Static analysis by CBO doesn't capture growth dynamics, leading to overestimation of deficits from tax cuts.
- Tariff revenue projections by CBO are uncertain due to ongoing trade negotiations.
Act Quickly for Economic Certainty
- Move expeditiously to pass economic legislation to provide certainty for businesses and investors.
- Delay creates uncertainty that harms capital investment and economic growth.