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."
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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