Nearly 30 million Americans have taken advantage of tax deductions on tips and overtime introduced under Donald Trump's economic agenda, according to Scott Bessent.
The uptake shows growing use of provisions rolled out under the administration's flagship tax law, with 5.7 million taxpayers filing for the 'No Tax on Tips' deduction and 23 million claiming the 'No Tax on Overtime' benefit.
The combined total marks an increase from about 24.6 million reported earlier, suggesting more Americans are opting for the deductions as the filing season closes.
Workers and businesses report early impact, with business owners and workers pointing to changes in hiring and take-home pay.
The tax changes are part of a wider pro-growth strategy, with incentives that allow companies to expense research and development costs and hire more workers.
The full economic impact of the tax breaks will likely become clearer after the current filing season concludes.
