Senate Confirms Scott Bessent To Lead Treasury Department With Bipartisan Support
The Senate voted on Monday to check Scott Vessent, an investor and a millionaire hedge fund manager, to serve as a supervisory President Donald Trump's Finance Secretary. Senator approved Vessent's nomination 67 to 29, and more than 10 Democrats joined a Republican colleague and voted in Vessent. The four Senator did not vote. (Related: The […]
Senate confirms Trump’s treasury pick
The Senate voted on Monday and confirmed Scott Bessent, the choice of President Donald Trump led by the Ministry of Finance. Bessent secured a confirmation with 68-29 votes and became the fourth member of the Trump cabinet to confirm him. “We erase debts, restore financial privacy, unlock new technology for the prosperous future. The golden […]
Senate tees up final vote on Bessent nomination to lead Treasury
The Senate on Saturday proceeded with Scott Bessent, voted to become the next secretary of the Ministry of Finance, and arranged him on Monday. The Senator voted for 67-23 and taught the final passage of Bessent's nomination. The final voting will be held at 5:30 pm on Monday evening Bessent had previously advanced from the […]
Senate committee advances nomination for Trump Treasury pick
The Senate Finance Committee voted 16-11 Tuesday morning to move up the nomination of Scott Bessent, President Trump's nominee for Treasury Secretary. Sens. Mark Warner (D-Va.) and Maggie Hassan (D-H.) went against party lines and joined Republicans in supporting the nomination. But the vote did not take place without some last-minute opposition from Democrats. Senate […]
Biden’s fiscal failures loom over treasury nominee’s path
Given America's fragile fiscal foundation, Thursday's confirmation hearing for Treasury Secretary nominee Scott Bessent is critical. Senators would be expected to focus on finance-related questions. But instead of addressing the consequences of Janet Yellen's financing of U.S. debt at the short end of the yield curve and the challenge of refinancing nearly $7 trillion in […]
Federal govt will hit debt ceiling the day after Trump’s inauguration: Treasury Secretary
The federal government is scheduled to reach the debt ceiling the day after President-elect Donald Trump takes office, at which point “extraordinary measures” will be taken to prevent the U.S. from defaulting on its debt, Treasury Secretary Janet Yellen told Congressional leaders on Friday. I told them. “This letter provides notice of special measures that […]
Treasury Dept recoups $31 million in payments to dead people
The Treasury Department announced this week that it has recovered more than $31 million in fraudulent and improper payments to deceased persons in just five months after accessing the Social Security Administration's (SSA) federal death database. The Treasury Department makes billions of dollars in payments each year, including benefits, federally funded state payments, and other […]
Treasury Nominee Bessent Defends Tariffs, Nuclear Energy in Hearing
Treasury Secretary nominee Scott Bessent opened his confirmation hearing in the Senate Finance Committee with a powerful attack on the radical left by defending the value of tariffs and nuclear energy. While many in the Democratic Party and Washington's elites support radical free trade and so-called “green energy,” Bessent rejects their elitist views and supports […]
Trump Treasury secretary nominee won’t support raising minimum wage
Scott Bessent, President-elect Trump's nominee for Treasury secretary, said Thursday that he does not support raising the minimum wage. If confirmed, Bessent would not have the power to raise wages, which would require a vote from Congress. But Sen. Bernie Sanders (Iconic, Vt.), who introduced a bill to raise the minimum wage to $15 in […]
Trump Treasury Pick Disputes Dem Argument U.S. Is in Clean Energy ‘Arms Race’
Treasury Secretary nominee Scott Bessent on Thursday disputed claims by Sen. Ron Wyden (D-Ore.) that the U.S. is in a clean energy “arms race” with China, saying China will increase coal production this year. He criticized the expected construction of 100 thermal power plants. During a Senate Finance Committee hearing, Wyden asked Bessent about the […]