Bessent Says Budget Reconciliation Could Advance New Trump Retirement Plan

Treasury Secretary Scott Bessent said on Feb. 24 that President Donald Trump’s new retirement proposal could be advanced through budget reconciliation. In his record‑long State of the Union address, the president announced a plan to give Americans who lack an employer‑sponsored retirement plan—such as a 401(k)—access to the same program available to federal workers. Trump also plans to match their contribution with up to $1,000 each year, “as we ensure that all Americans can profit from a rising stock market.” In an interview with NBC’s Kristen Welker following Trump’s speech, Bessent said it could be implemented through budget reconciliation....