Treasury Secretary Bessent Visits Long Island to Champion Small Business Under Trump
A Focus on Economic Growth and Business-Friendly Policies
Secretary of the Treasury Scott Bessent made a visit to Nassau County on Monday evening, where he engaged with small-business stakeholders on Long Island. During the meeting, local business owners shared their experiences of managing their operations in the current economic climate under President Trump’s leadership.
Bessent addressed a group that included realtors, restaurant owners, school board members, local politicians, and other community members. He emphasized the importance of making main street as successful as Wall Street. “Wall Street always does great…now it’s main street’s turn,” he said to the audience.
Deregulation and Fiscal Responsibility
The secretary highlighted the impact of deregulation policies, stating that they are making it possible for businesses to thrive. He encouraged individuals to work harder and keep more of their earnings, discussing several fiscal points that directly affect everyday workers. These policies, according to Bessent, have provided much-needed support to those struggling in the current economy.
He also spoke about Trump’s savings accounts for children, which he described as “the ultimate real-time experiment.” Additionally, he mentioned the Big Beautiful Bill and the opportunities for prosperity it presents.
Whistleblower Incentives and Fraud Prevention
In another part of his address, Bessent discussed a new policy aimed at encouraging whistleblowers to report major fraud cases. The policy offers financial incentives, up to 30% of penalties for those caught, similar to the Somali daycare scandal in Minnesota. He compared this initiative to the MTA slogan, “if you see something, say something.”
Strong Fiscal Standing in Nassau County
Nassau County Executive Bruce Blakeman, a Trump ally, praised the county’s strong fiscal position. He noted that Nassau has one of the lowest poverty rates in the United States, despite its diverse demographics. Blakeman, who is running for governor, emphasized the importance of economic development and keeping taxes low while welcoming businesses into the area.
He outlined two upcoming priorities for the county: lowering taxes and creating more energy opportunities to reduce utility costs.
Local Business Perspectives
Wantagh realtor Al Iaquinta, a former MMA star, supported Blakeman’s vision, stating that the housing market reflects Nassau’s prosperity. “People are buying — we’ve got lines down the block,” he said.
Small-business owner Gus Tsiorvas, who runs Embassy Diner in Bethpage, shared his positive experience with Trump’s policy of not taxing tips. He noted that the policy has helped his diner survive and even thrive. One of his workers was featured on a December cover of The Post, complaining about New York’s stance on taxing tips.
Impact on Workers and Families
After public backlash, Governor Kathy Hochul reversed her position on taxing tips in January. Tsiorvas expressed gratitude for the change, saying it has made a significant difference for his staff. He mentioned that one waiter, John, is now planning to take his three kids to Disney World.
Another example was his waitress, Cindy, a single mom raising her daughter alone. She recently told Tsiorvas that because of the no-tax-on-tips policy, she is finally able to throw her daughter a large birthday party.
Popularity Among Service Industry Workers
Bessent found the stories amusing and joked that the no-tax-on-tips policy has made him the “most popular cabinet member” among service industry workers. He added that Trump was inspired to implement the policy after visiting a diner in Nevada.
Tsiorvas concluded by expressing his appreciation for having a president who cares about the struggles of everyday people. “Thank God we have a president who cares,” he said.
