Trump's Treasury Nominee Scott Bessent Vows 'Economic Golden Age' at Senate Hearing

Jan 16, 2025, 04:13 PM

Scott Bessent, President-elect Donald Trump's nominee for Treasury Secretary, has promised to usher in a 'new economic golden age' for the United States. During his Senate confirmation hearing, Bessent highlighted the importance of securing supply chains, deploying sanctions strategically, and ensuring the U.S. dollar remains the world's reserve currency. He emphasized the need to prioritize productive investment over wasteful spending to drive economic growth. Bessent also expressed his commitment to extending the 2017 Tax Cuts and Jobs Act, warning of an economic calamity if the tax cuts are not renewed, which would result in a significant tax increase for the middle class. His confirmation hearing comes as part of Trump's broader economic vision to stimulate growth, reduce federal spending, and support American workers.