On Monday, the GOP-led Senate confirmed the nomination of hedge fund manager Scott Bessent to become U.S. Treasury Secretary in President Donald Trump‘s second term.
The vote was 68-29 with some Democrats joining Republicans in supporting Bessent.
“Scott Bessent brings a wealth of private-sector experience in the economy and markets to his new role, as well as a concern for the needs of working Americans,” Senate Majority Leader John Thune (R-SD) said on X. “I am committed to working with Mr. Bessent and the Trump administration to continue to protect American businesses.”
Scott Bessent brings a wealth of private-sector experience in the economy and markets to his new role, as well as a concern for the needs of working Americans.
I am committed to working with Mr. Bessent and the Trump administration to continue to protect American businesses. pic.twitter.com/MUY577Y77b
— Leader John Thune (@LeaderJohnThune) January 27, 2025
Bessent, the founder of Key Square Group — who worked as the chief investment officer for a firm owned by Democrat mega-donor George Soros — has also served as an economic adviser to Trump.
In November, Trump nominated Bessent, saying that his pick is “widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists” and “has long been a strong advocate of the America First Agenda.”
The New York Times reported that Bessent said he plans to divest from assets worth hundreds of millions, aiming to “avoid any actual or apparent conflict of interest.”
At his confirmation hearing this month, Bessent testified that he believes Trump “has a generational opportunity to unleash a new economic golden age that will create more jobs, wealth, and prosperity for all Americans.” Bessent also clashed with Sen. Elizabeth Warren (D-MA) over billionaire tax codes and explained to another Democrat how the United States is in an “energy race” with China rather than a “clean energy race.”
Bessent, who advanced out of committee last week, is the fifth person to be confirmed to Trump’s Cabinet after Secretary of State Marco Rubio, CIA Director John Ratcliffe, Defense Secretary Pete Hegseth, and Homeland Security Secretary Kristi Noem.
Sean Duffy, Trump’s pick for transportation secretary, may be confirmed later this week. Other nominees are making their way through the process, including Pam Bondi, Trump’s pick for U.S. Attorney General; Robert F. Kennedy Jr., the nominee for Health and Human Services secretary; Tulsi Gabbard, who has been tapped for the director of national intelligence role; and Kash Patel, the nominee to become FBI director.
