LAS VEGAS (KTNV) — U.S. Treasury Secretary Scott Bessent visited Southern Nevada tonight to discuss new tax policies aimed at helping working families keep more of their paychecks.
I sat down exclusively with Bessent in our studio this afternoon to discuss the Working Families Tax Cut, which he referred to as the one "Big Beautiful Bill."
WATCH | Treasury Secretary Scott Bessent talks tax cuts in Southern Nevada
Bessent outlined several ways residents can save money, including eliminating taxes on overtime and allowing workers to deduct up to $25,000 in tips.
He also highlighted a new initiative called Trump accounts, which provides free money for children.
"Everyone should open a Trump account," Bessent said.
He noted that parents can register using Form 4547.
"Born during President Trump's term, their accounts will be seeded with a $1,000 seed fund from Treasury that will be invested in a low cost index fund that will compound until they're 18 so the accounts can be maintained until a child turns 18," Bessent said.
Additionally, Bessent shared that the slot tax threshold has increased. Gamblers who win up to $2,000 will no longer have to pay taxes on that money.
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