Exclusive — Treasury Secretary Bessent in Labor Day ‘No Tax on Tips’ Diner Interview: Time for ‘Parallel Prosperity’ Where ‘Main Street and Working Americans Do Great’
Matthew Boyle1 Sep 2025
ARLINGTON, Virginia — Treasury Secretary Scott Bessent told Breitbart News exclusively on Labor Day that President DonaldTrump’s fulfilled “no tax on tips” campaign promise will significantly help American workers like the wait staff at the diner he visited on Monday.
Bessent sat with Breitbart News for nearly half an hour in a booth at Metro 29 Diner just outside the nation’s capital here onMonday morning as part of a multi-stop tour he took of restaurants and bars on Labor Day to highlight how Trump’s agendais delivering for Main Street to level the playing field with financial elites in the country.
“It’s part of the president’s agenda and it’s what I call parallel prosperity. Wall Street has done great. Upper income taxpayers and business have done great. Now, Main Street and working Americans are going to do great,” Bessent said. “It’s part of what you said, which is when the One Big Beautiful Bill became One Big Beautiful Law, the no tax on tips, no tax on overtime, no tax on Social Security, and interest deductibility of auto loans for new cars that are made in the U.S.”
The Treasury Department this week will roll out specific profession-by-profession and industry-by-industry=guidance on the no tax on tips part of the One Big Beautiful Billthat Trump signed into law back in July. A draft copy of the document that Bessent’s staff provided to Breitbart News ahead of the interviewshows dozens of pages of professions that the government deems worthy of the tips exemption of up to $25,000 from federal taxes for tipped workers.
“It’s very wide-ranging and the good news is we have a lot of data,” Bessent said. “People aren’t going to be able to game the system… It’s the president delivering for working Americans and we’ve had this affordability crisis. There are two ways to solve that. One, we are bending the curve on inflation and getting that under control and then we are going to belaser focused on affordability this fall with solutions, especially on housing. Buttwo is to grow wages for working Americans and this is a big step.”
A lot of American workers, Bessent said, got screwed under now former President Joe Biden’s administration. Trump, he said, is trying to fix it and level the playing field.
“You and I have talked about it—a lot of them really got [screwed] under the Biden administration.It was a wipeout for the bottom 50 percent of wage earners,” Bessent said.
Asked about what advice he would have for workers who benefit from the extra cash thanks to Trump and the Republicans,Bessent said pay down any debt and then start saving.
“First thing would be, if you have any high-cost debt, pay that down,” Bessent said. “That’s the best thing to do. Then, you canstart thinking about a rainy-day fund or saving up or creating a cash cushion.”
The goal with all of these efforts, the president’s top financial adviser said, is to “reward work.”
“Again, the main thing is to reward work,” Bessent said. “We want to reward hardworking Americans.So, on tips it’s easy. The first $25,000 is tax exempt. Then, on overtime, the more hours you work, the more you make.”
Asked about how he and Trump are focused on what he calls “parallel prosperity” for Main Street getting some success after Wall Street has done so well before, Bessent saidit’s time for working class Americans to have “some catch-up here.”
Really long article go to Breitbart to read the rest.Bessent is truly brilliant, good and a very positive guy, now he gets to work on behalf of of all Americans, and raise the life of hourly earners
https://www.breitbart.com/politics/2025/09/01/exclusive-treasury-secretary-bessent-labor-day-no-tax-tips-diner-interview-time-parallel-prosperity-where-main-street-working-americans-do-great/