Scott Bessent Secretary of the Treasury confirmation hearing [Video]

Lawmakers on Capitol Hill are set to question Scott Bessent’s stance on taxes, tariffs, trade and other issues during his confirmation hearing before the Senate Finance Committee.

The treasury secretary is responsible for serving as the president’s fiscal policy adviser and managing the public debt. He would also be a member of the president’s National Economic Council.

If confirmed, Bessent will oversee massive agencies within the Treasury Department, including the Internal Revenue Service. The IRS received a massive boost in funding from Democrats’ Inflation Reduction Act, though that money has been in constant threat of being cut.

Trump expects him to help reset the global trade order, enable trillions of dollars in tax cuts, ensure inflation stays in check, manage a ballooning national debt and still keep the financial markets confident.

Originally Published: January 16, 2025 at 7:38 AM PST