The Senate confirmed Scott Bessent, President Donald Trump’s nominee for Treasury secretary, despite criticism levied by Democrats for his handling of self-employment taxes tied to ownership of his hedge fund Key Square Group.
Bessent is poised to be a key player as Congress faces down more than $4 trillion in expiring tax cuts at the end of this year, which he warned during his confirmation hearing would have “devastating” consequences if allowed to lapse.
The expiring tax cuts, and whom they would benefit, monopolized debate at Bessent’s Finance Committee hearing, as they are likely to dominate discourse on the Hill for the remainder of this year.
