Reported about 13 hours ago
The International Monetary Fund (IMF) has expressed that the U.S. tax and spending bill, currently awaiting final Congressional approval, goes against its advice for reducing fiscal deficits. IMF spokesperson Julie Kozack emphasized the need for the U.S. to initiate fiscal consolidation to decrease public debt levels. While the Republican bill is expected to increase deficits by extending past tax cuts, concerns about the long-term impact on the economy have been raised, particularly diverging from U.S. Treasury Secretary Scott Bessent's optimistic outlook.
Source: YAHOO