Treasury nominee plans to say at confirmation hearing that Trump will unleash 'economic golden age'
U_S_ Treasury nominee Scott Bessent plans to say at his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age.”
WASHINGTON — WASHINGTON (AP) — U.S. Treasury nominee Scott Bessent plans to say Thursday during his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age."
According to prepared testimony given to The Associated Press, Bessent will say the U.S. must secure vulnerable supply chains, levy sanctions to address national security concerns “and critically, we must ensure that the U.S. dollar remains the world’s reserve currency.”
Lawmakers on Capitol Hill are set to question Bessent's stance on taxes, tariffs, trade and other issues during his confirmation hearing before the Senate Finance Committee.
Trump’s choice for treasury secretary is a South Carolina billionaire who, before becoming a Trump donor and adviser, donated to various Democratic causes in the early 2000s, notably Al Gore’s presidential run.
He also worked for George Soros, a major supporter of Democrats.
Bessent was one of several people whom Trump considered for the role. Trump took his time before settling on Bessent as his nominee. He also mulled over billionaire investor John Paulson and Howard Lutnick, whom Trump tapped as his nominee for commerce secretary.
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’
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