We're only five months into President Donald Trump's second term, and we've seen him keep many of the promises he made during his campaign, a rarity for anyone in politics. Now, we can add a pretty historic bump in blue-collar wages to the list.
Treasury Secretary Scott Bessent announced on Tuesday that real wages for hourly workers are up almost 2% so far this year, the strongest growth in 60 years. Under Joe Biden, hourly wages were down nearly 2%. As a matter of fact, no other president has seen a rise in hourly wages since Richard Nixon... with the exception of Trump's first term, during which wages were up 1.3%.
Thanks to @POTUS’s pro-growth, America First policies, real wages for hourly workers are up nearly 2% in the first five months of @realDonaldTrump’s second term — the strongest growth in 60 years.
— Treasury Secretary Scott Bessent (@SecScottBessent) June 17, 2025
No president has done that before — except President Trump in his first term.… pic.twitter.com/gasjQn33eb
Bessent, who sat down with columnist and "Pod Force Once" podcast host Miranda Devine for an interview recently, said three things have contributed to this significant growth: falling inflation, the president's "emphasis on manufacturing," and the removal of illegal immigrants from the workforce. Bessent told Devine that when Biden opened up the border and allowed everyone to flood the country, it was a disaster for "working Americans" because it put pressure on their wages.
Team Trump also believes that if the One Big Beautiful Bill passes, wages will increase even more, while inflation drops even lower. The bill targets hourly and blue-collar workers via elements like "no tax on tips."
"The bill would also eliminate federal income taxes on overtime pay for over 80 million hourly workers in industries like manufacturing, construction, and first responders who often rely on overtime for income," according to Devine. She adds that it would also provide "tax incentives for manufacturers to build U.S. factories," which would "create up to 6 million blue-collar jobs in construction and manufacturing, reversing decades of offshoring."
Bessent also released a statement on Tuesday, praising the Senate’s version of the One Big Beautiful Bill:
We applaud the Senate’s action to progress this critical legislation and expand upon President Trump’s tax relief for hardworking Americans. The One, Big, Beautiful Bill will protect families and small businesses from the largest tax hike in history and deliver No Tax on Tips, No Tax on Overtime, and new tax cuts for seniors. The bill will ensure the United States remains the premier destination for global capital, while protecting American companies and workers from foreign taxes. The passage of this bill will deliver the permanence and certainty both individual taxpayers and businesses alike are looking for, driving growth and unleashing the American economy. We look forward to continuing to work with the Senate and the House to further refine this bill and get it to President Trump’s desk.
He added the following in a post on X:
The Trump Administration applauds the Senate’s action to progress this critical legislation and expand upon @POTUS’s tax relief for hardworking Americans.
— Treasury Secretary Scott Bessent (@SecScottBessent) June 17, 2025
The One, Big, Beautiful Bill will:
✔️ Protect families and small businesses from the largest tax hike in history
✔️ Deliver…
You can hear Devine and Bessent's "Pod Force One" interview in its entirety when it's released tomorrow.
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