Full Committee Hearing with Treasury Secretary Scott Bessent

The Ways and Means Committee Republicans held a full committee hearing on June 4, 2026, with Treasury Secretary Scott Bessent as the sole witness. The hearing focused extensively on the implementation and impact of the Working Families Tax Cuts, highlighting provisions such as no tax on tips, no tax on overtime, enhanced senior deductions, and expanded child tax credits. Secretary Bessent emphasized the positive effects of these tax policies on working and middle-class Americans, small businesses, and manufacturing growth, citing increased refunds and job creation. The committee also discussed the administration's efforts on trade, deregulation, and the global tax landscape, including the OECD side-by-side agreement to protect U.S. tax sovereignty. Several members raised concerns about delayed tax refunds, IRS data security, and the controversial settlement involving President Trump’s tax audits, with Secretary Bessent deferring to ongoing litigation and Department of Justice guidance. Additionally, the hearing addressed affordable housing tax credits, opportunity zones, digital asset taxation, and the impact of tariffs and inflation on American families. The committee members debated economic indicators, inflation rates, and the administration’s policies, reflecting partisan perspectives on the economy's current state and future outlook. No specific contract awards, RFPs, or procurement decisions were discussed during the hearing.