Bessent calls on Congress to cement retirement plan

The Hill · Feb 25, 2026 · Collected from RSS

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Business & Economy The Big Story Bessent on new Trump retirement plan: ‘We can do it through reconciliation’ Treasury Secretary Scott Bessent signaled Tuesday that lawmakers could use the budget reconciliation process to advance a new retirement proposal introduced by President Trump during his State of the Union address. © Greg Nash Trump announced that his administration plans to offer Americans who do not have a retirement savings plan through their employer, such as a 401(k), access to the same plan offered to federal workers. “We will match your contribution with up to $1,000 each year, as we ensure that all Americans can profit from a rising stock market,” the president said during his record-long speech. Bessent was asked by NBC’s Kristen Welker following the address about how Trump’s idea would work in practice and whether it needed congressional approval. “Well, we can do it through reconciliation,” he replied. “And again, this is the president coming back for working Americans. Those who have been left behind.” The Treasury chief added that the proposal would be rolled out “in the coming weeks and months,” framing the initiative as a tool to help working Americans “who have been left behind.” Read more here. Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue. Essential Reads Key business and economic news with implications this week and beyond: U.S. Trade Representative Jamieson Greer on Wednesday said some nations will face a 15 percent tariff or higher as President Trump looks to rewire trade policy in the wake of a Supreme Court ruling that struck down most of his sweeping tariffs. Treasury Secretary Scott Bessent signaled Tuesday that lawmakers could use the budget reconciliation process to advance a new retirement proposal introduced by President Trump during his State of the Union address. Paramount on Tuesday sweetened its offer to acquire Warner Bros. Discovery, as the David Zaslav-led media conglomerate pursues a sale of its entertainment studios and spinoff of its linear television assets. The Hill Event Top Women in Policy Join Sen. Patty Murray (D-Wash.), Rep. Ashley Hinson (R-Iowa) and top strategists on March 4 to spotlight the women driving the 119th Congress. From AI to the economy, meet the women navigating the new political map. Register here. In Other News Branch out with more stories from the day: Roughly a third of the time, returns don’t make their way to another consumer. Because frequently, … Good to Know Business and economic news we’ve flagged from other outlets: Nvidia reports earnings and guidance beat as AI boom pushes data center revenue up 75% (CNBC) How Jeffrey Epstein Ingratiated Himself With Top Microsoft Executives (NYT) You’re all caught up. See you tomorrow! Tags Ashley Hinson David Zaslav Jeffrey Epstein Kristen Welker Patty Murray Scott Bessent Copyright 2026 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.