Scott Bessent confirmed as treasury secretary, giving him a key role in extending Trump’s tax cuts

The U.S. Senate has confirmed billionaire investor Scott Bessent as President Donald Trump’s treasury secretary. Bessent has said the U.S. faces economic calamity if Congress does not renew key provisions of Trump’s Tax Cuts and Job Act that are set to expire Dec. 31. Implementing the extension of those tax cuts will be a hallmark of his role. He also faces the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn’t jeopardize growth. Bessent is the first openly gay individual to hold the role. He’s a past supporter of Democrats who has become an enthusiastic backer of Trump. The post Scott Bessent confirmed as treasury secretary, giving him a key role in extending Trump’s tax cuts first appeared on Federal News Network.
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