Scott Bessent confirmed by Senate to serve as Trump's treasury secretary

SUMMARY
Scott Bessent was confirmed on Monday January 27th by the Senate as Treasury Secretary under President Donald Trump with a bipartisan 68-29 vote, including support from over a dozen Democrats. Founder of macro investment firm Key Square Group, which he pledged to wind down, Bessent was a key Trump campaign advisor. He advocates extending the Trump tax cuts, fiscal restraint, deregulation, and tariffs, warning against a "gigantic" tax hike on the middle class if cuts expire. His "3-3-3" plan targets 3% economic growth, a 3% budget deficit, and increased U.S. energy production. During confirmation hearings, Bessent stressed securing supply chains, using sanctions strategically, and maintaining the U.S. dollar's status as the global reserve currency. The Treasury Secretary oversees economic policy, tax negotiations, international financial relations, and agencies like the IRS. Bessent follows Steven Mnuchin, who served as Treasury Secretary throughout Trump's first term.