Mr. Bessent will say, according to a copy of his prepared remarks that was reviewed by The New York Times, 'I firmly believe that, if confirmed, and with your counsel and support, we can usher in a new, more balanced era of prosperity that will lift up all Americans and rebuild communities and families across the country.' This reflects his vision for the Treasury's role under his leadership in promoting a more inclusive economic agenda.
Senator Elizabeth Warren, who met with Mr. Bessent, expressed her concerns by stating, 'Bessent has spent his life helping the rich get richer,' indicating skepticism about his commitments to financial equality. However, she acknowledged his intelligence and thoughtfulness, suggesting a complex perspective on his qualifications.
The article notes that 'The Treasury Department will be crucial to Mr. Trump's plans to rewrite the tax code and extend the 2017 tax cuts that Republicans passed.' This emphasizes the significance of Bessent's role in shaping fiscal policies in line with the Trump administration's goals.
Democrats on the Senate Finance Committee are expected to press Mr. Bessent on Mr. Trump's plans to enact universal tariffs, potentially ease sanctions on Russia, and cut taxes for the rich, showcasing a significant ideological divide on fiscal policy matters.
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