Big Take Treasury Secretary Scott Bessent on DOGE, Taxes and the Fed
19 snips
Feb 6, 2025 
Scott Bessent, the 79th Secretary of the Treasury, dives into hot-button issues impacting the economy. He discusses the implications of Elon Musk’s DOGE initiatives, tax reforms, and a fresh approach to government spending. Bessent also addresses the challenges of managing the IRS and emphasizes the need for modernization in federal operations. Moreover, he shares insights into tariffs and anticipates a future of non-inflationary growth while strategizing around the complexities of national debt and the Federal Reserve's pivotal role.
AI Snips
Chapters
Transcript
Episode notes
DOGE Team Access
- Two Treasury employees are part of the DOGE program, one of whom Bessent personally interviewed.
- They are on read-only access, working on operational improvements, and cannot make changes to the system.
Payment System Authority
- Authority to change the payment system resides with the Federal Reserve, not the Treasury.
- The DOGE team can offer suggestions, but any changes undergo rigorous testing by the Fed.
IRS System Concerns and Access
- Bessent highlights the IRS's outdated systems and privacy concerns, emphasizing the need for improvement.
- Currently, the DOGE team has no involvement with the IRS, and access to taxpayer data hasn't been requested.