On Monday, Scott Bessent was confirmed as Treasury Secretary with a vote of 68 to 29, gaining bipartisan support. His appointment marks a departure from Biden-era policies focusing on equity and climate, as he will push for tax cuts and tariffs. This is a first for Mr. Bessent, a billionaire hedge fund manager and the first openly gay Secretary. He plans to reshape the Treasury, ending remote work for staff and exploring a new External Revenue Service for tariff collection.
Mr. Bessent's confirmation as Treasury Secretary represents a significant shift in economic policy, focusing on tax cuts, tariffs, and deregulation under the Trump administration.
With bipartisan support during his confirmation, Mr. Bessent's administration is set to revamp Treasury policies, moving away from the Biden administration's focus on equity and climate.
As the first openly gay Treasury Secretary, Mr. Bessent aims to bring his considerable financial expertise to the role, although he is new to government.
Bessent's tenure signifies a pivot from previous administration structures, advocating for a more traditional, management-focused approach at Treasury, including staff policy changes.
Collection
[
|
...
]