Scott Bessent confirmed as treasury secretary
Scott Bessent, President-elect Donald Trump's choice to be Secretary of the Treasury, appears before the Senate Finance Committee for his confirmation hearing at the Capitol in Washington on Jan. 16. Credit: AP/Ben Curtis
WASHINGTON — The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to serve as President Donald Trump's treasury secretary, giving him the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn't jeopardize growth.
The South Carolina resident will be the first openly gay individual in the role, a historic first as Trump seeks novel ways to implement a policy agenda driven by both billionaire business leaders with concerns over regulations and a populist base that wants government leaders to fight for them.
Bessent, a past supporter of Democrats who once worked for George Soros, has become an enthusiastic supporter of Trump.
SARRA SOUNDS OFF: Newsday's All-Decade teams for the 1950's and 1960's On the latest episode of "Sarra Sounds Off," Gregg Sarra and former Newsday sports writer Mike Candel discuss their All-Decade boys basketball teams for the 1950's and 1960's, plus highlights from the county championships.
