Scott Bessent's Treasury Secretary Nomination Advances to Senate Vote

The Senate Finance Committee approved Bessent's nomination with a 16-11 vote, paving the way for a full Senate confirmation expected to succeed.

Scott Bessent, a former hedge fund manager and economic adviser to President Trump, was approved by the Senate Finance Committee in a 16-11 vote to advance his nomination for Treasury Secretary.
Two Democratic senators, Mark Warner and Maggie Hassan, joined all Republican committee members in supporting Bessent's nomination.
If confirmed by the full Senate, Bessent will oversee U.S. fiscal policy, financial regulations, international sanctions, and the $28 trillion Treasury debt market.
During his confirmation hearing, Bessent emphasized the importance of extending the 2017 Tax Cuts and Jobs Act, calling it critical to avoiding economic instability.
Critics, including Senate Finance Committee ranking member Ron Wyden, raised concerns about Bessent's preparedness on tax policy and the potential impact of Trump's economic strategies on deficits and income inequality.