Trump Treasury Pick Scott Bessent to Face Grilling
New York Times5 days
Trump Treasury Pick Bessent Questioned by Senate
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Above: Scott Bessent, US Treasury Secretary nominee for US Pres.-elect Donald Trump, during a Senate Finance Committee confirmation hearing on Jan. 16, 2025. Image copyright: Al Drago/Contributor/Bloomberg via Getty Images
The Facts
Scott Bessent, a 62-year-old billionaire hedge fund manager and former Soros Fund Management executive who was nominated by Pres.-elect Donald Trump to be the next treasury secretary, Thursday appeared before the US Senate Finance Committee for his confirmation hearing.
During the hearing, Bessent emphasized making the 2017 Tax Cuts and Jobs Act permanent, warning that it is essential to extend the over $4T in tax cuts enacted in the first Trump administration.
The Spin
Republican narrative
Bessent represents a sophisticated financial expert who can implement pro-growth policies, extend crucial tax cuts, and use tariffs strategically to protect American interests. With Bessent in the fold, the Trump administration will create a new economic golden age that benefits all Americans.
Democratic narrative
The nominee's policy positions primarily benefit the wealthy through tax cuts, while he opposes minimum wage increases for working Americans. Bessent represents an economic vision that favors Wall Street over Main Street and he should not be confirmed.
