The people's voice of reason
The people's voice of reason
Treasury Secretary Scott Bessent
January 25, 2025 – WASHINGTON, D.C. – The U.S. Senate has voted to confirm Scott Bessent to be the Treasury Secretary. Bessent is the latest Trump nominee to be confirmed.
Both U.S. Senators Katie Britt (R-Alabama) and Tommy Tuberville (R-Alabama) supported Bessent's confirmation. Bessent's nomination was confirmed by a very bipartisan vote of 68 to 29.
Senator Britt released a statement after voting to confirm Scott Bessent to be President Trump's Secretary of the Treasury.
"After meeting with him last week, I have no doubt Scott Bessent is uniquely suited to lead the Treasury Department for the Trump Administration," said Sen. Britt in a statement. "He is committed to growing opportunities for hardworking Americans to achieve their American Dream. I look forward to working with Secretary Bessent to fuel the next golden era of American prosperity by passing pro-growth, pro-family tax reform that empowers small businesses and entrepreneurs. President Trump and Secretary Bessent know that America's comeback will be led by Main Streets in every corner of our nation, and I can't wait to be a partner in that mission."
Senator Tuberville said on X, "Congratulations to my good friend Scott Bessent on being confirmed as our next Treasury Secretary. He will lead a golden age for our economy and get America growing again in record time."
Scott Bessent on Monday secured confirmation to lead the Department of the Treasury, putting President Trump's top economic nominee in place ahead of a daunting GOP push to enact Trump's ambitious economic agenda.
16 Democrats voted in favor of confirming Bessent. Three Democrats did not vote.
"He brings a wealth of private sector experience in the economy and markets to his new role, as well as the concern for the needs of working Americans," said Senate Majority Leader John Thune (R-South Dakota) on the Senate floor. Thune said that Bessent was an "example of the American dream in action."
Bessent is a billionaire hedge fund manager and investor.
Bessent will be tasked with convincing Congress to extend Trump's tax cuts in the 2017 Tax Cuts and Jobs Act. If that does not happen, most American taxpayers will experience tax increases at the end of this year. Bessent supports extending the cuts.
The national debt is at $36 trillion dollars. The federal government needs to either increase revenues through higher taxes and tariffs or by growing the economy or decrease spending in order to balance the budget to keep from adding further to the debt.
"At the top of the Republican agenda is extending that tax relief to help our economy and the American people thrive," Thune said. "I deeply appreciate the fact that Mr. Bessent shares that commitment."
Gross domestic product (GDP) increased by 3.1 percent in the fourth quarter and 3 percent in the third.
Bessent is the first openly gay Cabinet official in a Republican administration to be confirmed by the Senate.
Original reporting by the Hill contributed to this report.
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