Top Trump economic adviser predicts legislative agenda will make American families $10,000 richer

President Donald Trump's chief economic adviser is projecting that the "big, beautiful bill" working its way through Congress will help American families grow their income by $10,000 over the next few years, a statistic that could impact kitchen table politics and pressure senators currently reluctant to vote for the legislation.

Kevin Hassett, the director of the National Economic Council, applied some of that pressure to holdout senators during an interview with Just the News set to air Thursday night on a TV special with the Association for Mature American Citizens (AMAC) on Real America's Voice.

"If Republicans in the Senate don't pass the big, beautiful bill, then we're going to see the biggest tax hike as the previous tax cuts expire...the biggest tax hike that we've ever had in US history," Hassett warned. 

Passing the bill has benefits, but rejection comes with costs

"If we have that tax hike, the Council of Economic Advisers here at the White House has estimated that we'll have a recession, a really deep recession with maybe a decline of 4% of GDP."

Hassett also said if the Senate does pass the bill, Americans will end up with a big tax cut that will benefit families across the country. 

"If we pass the bill, on the other hand, you're going to see really striking economic growth, just like we saw in 2018 and 2019," he said. "Our own models said that we'd have that $4,000 increase in income. They now say that we're going to get $10,000 in income for the typical family over just a few years."

"In this bill we took care of the American family," Rep. Mark Harris, R-N.C., said on the Wednesday edition of the "Just the News, No Noise" TV show. "The child tax credit is going to be preserved. And most importantly, if we had not passed this bill that extended or made permanent the Trump tax cuts, then every American family, from the poorest to the wealthiest, was going to see an increase, because the tax brackets were going to automatically increase."

The House passed Trump's "big beautiful bill" last week, but it is facing some hesitancy from Republicans in the Senate, due to concerns about Medicaid funding and the growth of the debt and deficit it is likely to cause. 

Wisconsin GOP Sen. Ron Johnson said on the "Just the News, No Noise" TV show earlier this month that he likely won't vote for it because it may increase the deficit. 

"I'm not sure this big, beautiful bill can pass," Johnson said. "I'm not going to vote for it if it actually increases the deficit. And right now it looks like it will increase the deficit."

The bill includes key factors of the president's agenda, such as no taxes on tips, increased border security funding and extending the president's 2017 tax cuts. 

Job creation in a "Golden Age"

Hassett said the stakes are really high, but he expressed confidence the bill will pass by July 4.

"If you're looking at the horizon, then you're going to see a really golden age on the horizon, and it'll be here, probably by the Fourth of July — certainly by recess," he said. Hassett also said the Trump administration's strategy to help the economy was to incentivize people to work and create jobs. 

"We're giving people an incentive to go to work," he said. "We're giving businesses an incentive to create jobs here in the U.S. and to build buildings in the U.S."

Hassett also noted that consumer confidence in the U.S. has jumped for the first time in years, according to a new report Wednesday.

"In fact, there's a race to participate in the golden age in America right now, and firms are coming as fast as they can to build stuff in the U.S., to create jobs in the U.S. [and] to rebuild factories," he said.