The incoming US Treasury secretary faces a series of critical tasks upon taking office. These include managing the debt ceiling, extending tax cuts, and executing President-elect Donald Trump's economic plans.
Dealing with the Debt Ceiling
One of the immediate challenges will be addressing the debt ceiling, which is set to return in January. The Treasury Department will need to employ extraordinary measures to avoid defaulting on the nation's obligations. The incoming secretary will play a crucial role in navigating this issue.
Extending the Trump Tax Cuts
Extending the provisions of the 2017 Tax Cuts and Jobs Act, a key priority for congressional Republicans and Trump, will require careful planning. The Treasury secretary will be instrumental in developing a plan for the costly extension of these tax cuts.
Managing the Trump Economy
The Treasury secretary will serve as the quarterback of Trump's economic gameplan, which includes implementing tariffs, tax cuts, and other measures to stimulate the economy. Additionally, the secretary will need to address potential financial market disruptions and manage the federal government's cash needs.
Overall, the incoming Treasury secretary will play a pivotal role in shaping the economic policies of the new administration and addressing the challenges that lie ahead.
