Bessent nomination to US Treasury clears Senate Finance Committee

(Reuters) – The U.S. Senate Finance Committee on Tuesday voted to ship the nomination of billionaire hedge fund supervisor Scott Bessent as President Donald Trump’s Treasury secretary on to the complete Senate for approval.

The committee voted 16-11 to ship the nomination on to a ultimate affirmation vote within the Senate. All Republicans voted in favor of the nomination, however Bessent additionally gained approval votes from two Democrats, Mark Warner and Maggie Hassan.

If accredited as anticipated, Bessent, 62, can be one of many new administration’s essential voices in financial coverage, with huge affect over fiscal coverage, monetary laws, worldwide sanctions and investments from abroad. He would even be the purpose man for managing the nation’s tax collections and its $28 trillion Treasury debt market.