• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium

2

'The first time ever in my career': Senior Citi executive on why the ultrawealthy want to diversify away from America

3

Americans are quietly abandoning the daily habit that billionaires say set them up for success—and it could have lasting consequences

1

Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium

2

'The first time ever in my career': Senior Citi executive on why the ultrawealthy want to diversify away from America

3

Americans are quietly abandoning the daily habit that billionaires say set them up for success—and it could have lasting consequences
EconomyU.S. economy

‘Maya MacGuineas should be ashamed’: Scott Bessent launches war of words with the nonpartisan think tank that agrees with Trump on tariffs

By
Tristan Bove
Tristan Bove
Contributing Reporter
Down Arrow Button Icon
By
Tristan Bove
Tristan Bove
Contributing Reporter
Down Arrow Button Icon
February 23, 2026, 2:16 PM ET
US Treasury Secretary Scott Bessent.
Scott Bessent had harsh words for a budget watchdog over tariffs.Kevin Dietsch—Getty Images
Add Fortune on Google for similar content.

Trump administration officials have had harsh words for anyone choosing to question the efficacy or legality of the president’s sweeping tariff program. As it turns out, even some pro-tariff voices won’t be spared.

Recommended Video

Appearing Sunday on Fox News, Treasury Secretary Scott Bessent turned a debate over tariff revenue into yet another admonishment, only this time, the target of his ire had recently turned out championing the role of tariffs in improving the country’s fiscal outlook. 

“Maya MacGuineas should be ashamed,” Bessent said, referring to the president of the Committee for a Responsible Federal Budget, a nonpartisan organization that provides frequent updates on the country’s fiscal health and national debt outlook.

MacGuineas has spent much of the past week addressing the possible fiscal consequences of the Supreme Court’s ruling Friday that Trump’s “emergency” tariffs were in fact illegal. Not having those tariffs in place amounts to around $2 trillion added to the national deficit over the next decade, according to CRFB research, and could push the national debt upward to 131% of GDP by 2036, instead of 120% as previous baselines projected. 

The CRFB has called for measures to replace Trump’s levies with other mechanisms to minimize revenue loss. But it wasn’t enough for Bessent, who took the opportunity Sunday to shoot the messenger. 

“They should take the word ‘responsible’ out of her organization’s name,” he said. “Tariff revenue will be unchanged this year and will be unchanged in the future.”

The friction began when Fox News host Maria Bartiromo cited CRFB’s analysis, which also suggested ways the U.S. could offset the tariffs ruled out by the Supreme Court, including border-adjusted taxes. Bessent pushed back against the numbers produced by CRFB, calling MacGuineas “wrong” and asserting that revenue projections would not change under the replacement tariffs that Trump announced following the court’s ruling.

In a statement rebutting Bessent’s criticism, MacGuineas called his diatribe “a bit of an odd response,” noting that CRFB’s analysis was actually in alignment with the administration’s stated goals. MacGuineas pointed out that the CRFB has publicly touted the fiscal benefits of tariffs, calling the soaring revenue a “bright spot in an otherwise gloomy fiscal picture.” She also welcomed the administration’s urgent push to replace tariffs with other mechanisms to maintain revenues.

The CRFB has previously recommended policies that would likely fall on flat ears in the Trump administration. The organization has characterized Trump’s One Big Beautiful Bill Act, passed last year, as an “economic sugar high” of voracious spending and generous tax breaks, one that would add anywhere between $19 trillion and $32 trillion to the national debt over 30 years.

Two of the CRFB’s recommendations to replace lost tariff revenue were classic budget prescriptions: Either scale back tax cuts or reduce spending, directly referring to Trump’s signature policy package.

Trump has moved fast to replace the “emergency” tariffs. After last week’s ruling, he first announced 10% tariffs across the board lasting 150 days, under authority granted by the 1974 Trade Act. He then ratcheted that up to 15% over the weekend, indicating additional levies would soon follow. Those duties are scheduled to kick in shortly after midnight on Tuesday. 

But temporary replacement tariffs might not be enough to satisfy MacGuineas and the CRFB. In her response to Bessent she acknowledged that some form of tariff revenue would improve the country’s fiscal outlook, but added that doing so “will require not only replacing lost tariff revenue, but pursuing significant additional spending cuts and/or revenue.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By Tristan BoveContributing Reporter
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Economy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Economy

3 reasons Bitcoin is stuck in a bear market—and why one analyst predicts a rebound to $100,000 by year-end
CryptoBitcoin
3 reasons Bitcoin is stuck in a bear market—and why one analyst predicts a rebound to $100,000 by year-end
By Camila Grigera NaónJuly 12, 2026
4 hours ago
The rise of white-collar socialists: ‘A lot of tech workers are working class’
EconomyLabor
The rise of white-collar socialists: ‘A lot of tech workers are working class’
By Jason MaJuly 11, 2026
14 hours ago
The ‘Soccer Capital of America’ is now gunning for the Soccer Capital of the World (Cup)
EconomySports
The ‘Soccer Capital of America’ is now gunning for the Soccer Capital of the World (Cup)
By Catherina GioinoJuly 11, 2026
17 hours ago
There’s no escape from inflation as a perfect storm of the ‘Godzilla’ El Niño, AI boom, Trump tariffs, fuel crunch, and Ukraine war keep prices high
EconomyInflation
There’s no escape from inflation as a perfect storm of the ‘Godzilla’ El Niño, AI boom, Trump tariffs, fuel crunch, and Ukraine war keep prices high
By Jason MaJuly 11, 2026
17 hours ago
Help not wanted: World Cup hiring boost has yet to materialize
Economytourism
Help not wanted: World Cup hiring boost has yet to materialize
By Augusta Saraiva, Maya Prakash and BloombergJuly 11, 2026
19 hours ago
German carmakers are suffering some of their worst declines ever in China as Q2 sales plunge 30%-41%
AsiaAutos
German carmakers are suffering some of their worst declines ever in China as Q2 sales plunge 30%-41%
By Chan Ho-Him and The Associated PressJuly 11, 2026
20 hours ago

Most Popular

Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
Environment
Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
By Sasha RogelbergJuly 10, 2026
2 days ago
'The first time ever in my career': Senior Citi executive on why the ultrawealthy want to diversify away from America
Banking
'The first time ever in my career': Senior Citi executive on why the ultrawealthy want to diversify away from America
By Nick LichtenbergJuly 11, 2026
23 hours ago
Americans are quietly abandoning the daily habit that billionaires say set them up for success—and it could have lasting consequences
Success
Americans are quietly abandoning the daily habit that billionaires say set them up for success—and it could have lasting consequences
By Preston ForeJuly 11, 2026
23 hours ago
Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
Success
Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
By Emma BurleighJuly 9, 2026
3 days ago
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
Middle East
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
By Jason MaJuly 11, 2026
11 hours ago
U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts
Economy
U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts
By Eleanor PringleJuly 10, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.