Bessent and Lutnick sent plan for U.S. sovereign wealth fund — but White House has pushed back
Written by Black Hot Fire Network on May 7, 2025
Top advisers have sent President Trump a plan to create a government-run investment fund, a request the president made earlier this year — but the White House has rejected parts of the proposal, CBS News has learned.
Mr. Trump asked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to jointly develop a proposal for a U.S. sovereign wealth fund by early May.
It has been submitted, multiple sources told CBS News on Wednesday. However, the White House had concerns about the approach taken by Treasury, one of the sources said.
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