Tail. Andy Harris, R-md., It is harder to reduce Trumps tax in the midst of the Scott Bessents and Congress hearing with a strategy for the Proposal of the Complex Act.
The Senate on Monday voted a confirmation that Scotta Besent was performing the Minister of Treasury after his nomination for the role of president Donald Trump.
Bessent is the entire Senate confirmed to 68-29 votes. Over a dozen Democrats voted for Bessent’s confirmation, including Sens. Lida Blunt Rochester of Delaware, Cory Booker of New York, Chris Coons of Delaware, John Fetterman of Pennsylvania, Ruben Gallego from Arizona, Kirsten Gillibrand of New York, Tim Kaine, Virginia, Mark Kelly of Arizona, Maggie Hassan of New Hamps Hickenlooper from Colorada, Gary Peters of Michigan, Elisa Sloodkin from Michigan, Cynthia Shaheen of New Hampshire and Mark Warner of Virginia.
Bessent, 62, is the founder and executive director of the Global Macro investment company Key Square Group, which he said would be reduced if confirmed as Minister of Finance. The company focused on macro investment, which is a strategy that uses geopolitical and macroeconomic information to direct its approach to investing in different markets.
He served as a key economic policy advisor and raising funds for Trump’s campaign. Bessent was an advocate of economic policies such as lower taxes, spending abstaining and deregulation that has long been the core of the Republican Party platform, and also supported Trump’s use of tariff in trade negotiations.
The Senate voted to confirm the founder of the Hedge Fund of billionaire Scott Bessent as Trump’s Treasury Minister. (Chen Mengtong/China News Service/VCG via Getty Images/Getty Images)
During a certificate hearing, the Besent said that the expansion of the reduction of Tax on Trump’s “Single The most important economic question Dana, “a warning that you do not do this would result in a” giant “increase in mid -class taxes due to the expiration of lower tax groups and a larger standard deduction required by most taxpayers.
“If we do not renew the extension, then we will face an economic accident,” Bessent said. “And, as always, with financial instability, it falls on a middle and working class.”
Trump’s selection of treasury bezent will not discriminate the tax cheating, the vow is honest
In his opening word, Beesent said that “President Trump has a generational opportunity to release a new economic golden age that will create more jobs, wealth and prosperity for all Americans.”
“We need to provide chains of supply that are sensitive to strategic competitors and we must carefully arrange sanctions as part of the accession of the entire Government in resolving our national security requirements,” Bessent added. “And critically – critically – we have to ensure that the US dollar remains a world’s spare currency.”
The Senate Financing Committee has previously progressed the neomination of Beesant to a double-sided voice 16-11. (Tom Williams / CQ-Roll Call, Inc via Getty Images / Getty Images)
Senate Finance Committee progressed Besenti nomination to a full Senate with a two -sided voice from 16 to 11, January 21, a day after Trump’s inauguration. SENS. Mark Warner, D-Va., And Maggie Hassan, Dn.h., were democratic senators who joined all of their Republican colleagues in voting to improve his nomination.
During the presidential campaign, the Besent announced what he called the “3-3-3” plan, which is modeled on the idea of the late Japanese Prime Minister Shinz Abe “Three Arrows”.
Bessent claimed to set up a goal of achievement 3% of real economic growth, a decrease in budget deficit to 3% gross domestic product (GDP) by 2028 and increase US Energy Production to the equivalent of an additional 3 million barrels of oil per day.
Candidate for Minister of Treasury Scott Besent ‘3-3-3’ Plan: What to Know
Scott Beesent, founder and CEO of Key Square Group LP, during an interview in Washington, DC, USA, Friday, June 7, 2024. (Stefani Reynolds / Bloomberg via Getty Images / Getty Images)
The role of the Minister of Treasury is of great importance for the implementation of the president’s economic plan.
Treasury secretaries are often conducted by negotiations with Congress about taxes and consumption issues. They also play a key role in dealing with foreign governments and financial institutions, as well as to resolve the business of the Ministry of Finance and Sub-AGencies like Internal income service (IRS).
During Trump’s first term as president, Steven Mnuchin performed the duty of the Treasury Minister for a four-year term after the Senate confirmed him at 53-47 votes several weeks after Inauguration Day.
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Mnuchin served as a key Negotiator with Congress About debt limit, tax and consumption policies, as well as packets for help in the Kovida that were brought in 2020 after the pandemic began.
Diana Stancy Fox News Digital contributed to this report.
