Overview

• The Senate confirmed Scott Bessent as Treasury Secretary with a 68-29 vote, including support from 16 Democrats.
• Bessent, a billionaire hedge fund manager and founder of Key Square Group, is the first openly gay individual to hold the Treasury Secretary position.
• His priorities include extending the 2017 Trump tax cuts, implementing gradual tariffs, and addressing the $36 trillion national debt.
• Bessent emphasized fiscal responsibility, warning of economic instability without renewed tax cuts and pledging to reduce federal spending.
• He supports a hawkish stance on China, sanctions on Russian oil firms, and maintaining the U.S. dollar as the global reserve currency.