YORKTOWN – Congressman Mike Lawler (R-NY-17) hosted U.S. Department of Treasury Secretary Scott Bessent in the Hudson Valley on Friday to highlight pro-growth economic policies during Hudson Valley during Financial Literacy Month.
Hosting a roundtable at a local, family-owned diner, the conversation centered on recent tax relief policies and the challenges facing mom-and-pop businesses and working families, who have faced challenges during the current economic climate.
The U.S. Chamber of Commerce reported this week that small businesses are cutting back on plans for hiring and investment as their concerns about inflation grow. In a survey, 53% of those surveyed cited inflation as their biggest concern, up from 45% last quarter. These findings come as Americans across the country are feeling the strain of higher prices for groceries, housing, insurance, health care, and energy.
The Lawler-Bessent roundtable discussion detailed key policies helping local businesses, including:
- Eliminating taxes on tips and overtime
- Expanding the Child Tax Credit
- Raising the SALT deduction cap to $40,000, delivering long-overdue relief for New York homeowners
- Providing incentives that help small businesses invest, hire, and grow
- Preserving the Pass-Through Entity Tax (PTET) to keep small-business owners from facing a sudden federal tax increase
“Whether it’s a family-owned diner, a contractor, or a small retailer, these are the businesses that define our communities,” Congressman Lawler said. “When we lower their tax burden and make it easier to invest, they can hire more workers, raise wages, and continue serving families across the Hudson Valley. Financial Literacy Month is about giving families the tools to succeed, not just today, but for the long term.”
The visit also included a tour of Regeneron Pharmaceutical’s Tarrytown facility. At Regeneron, Lawler and Secretary Bessent met with company leadership and toured cutting-edge research and manufacturing operations, underscoring the Hudson Valley’s role as a leader in innovation and job creation.
“This district is a microcosm of America and spans industries,” Bessent said. “When I come through places like this, this is small-town America. Businesses and communities like this, I love coming out here. It’s the backbone of our economy.”
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