U.S. Senate Finance Committee Approves Treasury Secretary Nominee
The U.S. Senate Finance Committee has voted to advance the nomination of billionaire hedge fund manager Scott Bessent as President Trump's Treasury secretary to the full Senate for a confirmation vote.
The committee voted 16-11, with all Republicans and two Democrats, Mark Warner and Maggie Hassan, supporting the nomination.
Bessent, 62, is expected to play a pivotal role in shaping economic policy for the Trump administration, with oversight of fiscal policy, financial regulation, international sanctions, and foreign investment. He will also be responsible for managing the nation's tax collections and the $28 trillion Treasury debt market.