Photo: AFP
With the federal government finally reopened, the Trump administration can get back to cleaning up the mess that four years of Bidenomics left behind. Unfortunately, cleaning up that mess has been slow going so far. The good news? Things might be about to speed up.
Treasury Secretary Scott Bessent delivered some much-anticipated good news recently in an interview with Fox News’ Brian Kilmeade. Bessent predicted major economic progress early next year, saying: “Real wages are going to increase, and I would expect that in the first quarter or second quarter of next year, people are gonna start feeling better.”
So where are these wage increases supposed to come from? Bessent pointed to the massive amounts of recently reshored jobs in the manufacturing sector, saying: “As we bring these trillions of dollars of investment into the U.S., they’re all starting to break ground now. 2026 is going to be a blockbuster year.”
He credited much of that to the Big Beautiful Bill, which was passed on July 4. According to Bessent, the tax provisions inside that bill have encouraged massive amounts of investment into the United States—with the only downside being that the investment didn’t pay off instantly.