Senate Confirms Scott Bessent as Treasury Secretary

New York Times

The Senate on Monday voted 68 to 29 to confirm Scott Bessent to be President Trump’s Treasury secretary, putting in place the new administration’s top economic official who will steer an agenda that is focused on tax cuts, tariffs and deregulation.

Mr. Bessent, a billionaire hedge fund manager with deep experience in financial markets, is taking over the job as Mr. Trump is sprinting to remake the U.S. economy in line with his “America First” vision. The new Treasury secretary will be responsible for helping to develop the Trump administration’s tax policies, plot the path for more tariffs on Mexico, Canada and China, and craft the administration’s first budget.

Mr. Bessent won strong bipartisan support, with 16 Democrats joining Republicans in backing his nomination.

The job will be Mr. Bessent’s first time overseeing a sprawling organization or working in government. Mr. Bessent, who is the first openly gay Treasury secretary, said during his confirmation hearing that he was previously turned away from public service opportunities because of his sexual orientation.

My wife works at Treasury and says he’s about the most qualified Cabinet official Trump has nominated.