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.
This is a modal window.
Social Security ending phone service ... What's up on LI? ... Get the latest news and more great videos at NewsdayTV
