Scott Bessent, founder and director of the Key Square Group LP group and US Treasury candidate for US President Donald Trump, during the Senate Finance Committee in Washington, DC, the United States, on Thursday, January 16, 2025.
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The US Senate voted on Monday to confirm Scott Beesen as Minister of Treasury in the administration of President Donald Trump.
Senate 68-29 voted to confirm the veteran in Wall Street, where 16 democratics joined all Republicans to choose Bessent for this position. The Minister of Treasury will be 79.
Bessent, founder of the Key Square group, will play a major role in helping Trump to the age of his economic agenda, including an insightful look at the tax policy.
It is emphasized that the United States government is wrestling with its debts and impotence. The federal government has spent more than 711 billion dollars more than it was raised in the fiscal year 2025, according to the Treasury Department Financial data A website. At the same time, the national debt was swollen to More than 36.2 trillion dollars.
The next treasury minister has supported the gradual definitions, which will return to the spotlight as President Trump threatens the fees on products from China, Canada and Mexico. On Sunday, Trump said in the position of social media that he would impose a 25 % tariff on the goods coming to the United States from Colombia.
There will be another focal point for Bessent, the Law of Tax Discounts and Jobs – Tax Reform that came into effect in 2018.
When Bessent spoke to the Senate Finance Committee earlier this month, he repeated his support for TCJA extension and refused to say that he would be ready to raise taxes on the highest owners of the country.
