US Treasury Secretary Bessent has formally rebutted Senator Elizabeth Warren’s characterization of the Treasury buyback program as "unprecedented," stating in a letter that her understanding of the Treasury market "lacks foundation." Bessent clarified that the buyback initiative has been operational since May 2024 and is designed to enhance market liquidity, reduce volatility, improve convenience yields, and secure better value for taxpayers. Bessent also criticized Warren for attributing economic consequences to the Federal Reserve while previously supporting Biden administration spending policies. The letter highlighted that current Trump administration tax measures are benefiting families and workers through exemptions on overtime income and tips, additional deductions for seniors, and an expanded child tax credit.