According to CoinMeta, Bessent stated that there are numerous "tax gimmicks" in the tax law that have no economic significance. He is observing whether the Democratic Party truly intends to reduce the level of U.S. debt and hinted that the Trump administration is willing to include the cancellation of some of these "tax gimmicks" as part of a solution to reduce the U.S. fiscal deficit. He pointed out that canceling these arrangements does not equate to raising taxes, believing that it is possible to increase fiscal revenue by abolishing unreasonable regulations without having to raise tax rates.