5 Takeaways From Bessent’s Confirmation Hearing for Treasury Secretary

Nominee for secretary of the U.S. Department of the Treasury Scott Bessent has vowed that when President-elect Donald Trump returns to the White House, he will unleash “a new economic golden age.” Bessent, a billionaire hedge fund manager, appeared before the Senate Finance Committee for his confirmation hearing in Washington on Jan. 16. Democrats asked questions about tax policy, tariffs, and other pressing economic issues. “As President Trump has said, we will unleash the American economy by implementing pro-growth regulatory policies, reducing taxes, and unleashing American energy production,” Bessent told lawmakers. Here are five key takeaways from the hearing: 1. Trump Tax Cuts The 2017 Tax Cuts and Jobs Act (TCJA) was a key subject for senators at the Jan. 16 hearing. Over the coming weeks, Congress will debate whether to extend the Trump-era tax cuts or let them expire....