Source: Common Dreams
“A group of Senate Democrats on Wednesday pushed US Treasury Secretary Scott Bessent to pay back the nearly $1 million in Medicare payroll taxes that he reportedly owes from his years as a hedge fund manager. In a letter to Bessent, the senators pointed to a recent court ruling clarifying the scope of a self-employment tax loophole that is widely exploited by hedge fund managers and private equity executives. During his confirmation hearing last year, Bessent cited the then-pending litigation to justify his decision not to pay $910,000 in payroll taxes he potentially owes the Internal Revenue Service, and pledged to set up ‘a reserve fund to address any contingency related to this issue.'” (09/30/26)
https://www.commondreams.org/news/scott-bessent-payroll-taxes