Scott Bessent, Trump Ally, Confirmed as Treasury Secretary with Bipartisan Senate Support [WATCH]

The U.S. Senate voted on Monday to confirm President Trump’s nominee for treasury secretary, Scott Bessent, marking another successful confirmation as the president’s cabinet takes shape.

Scott Bessent’s confirmation as United States Secretary of the Treasury highlights President Trump’s dedication to restoring economic strength and stability.

America is BACK. pic.twitter.com/Pr1J8Z22g3

— The White House (@WhiteHouse) January 27, 2025

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The vote passed with a bipartisan 68-29 margin, with 16 Democrats joining all voting Republicans in support of the nominee.

BREAKING: Scott Bessent has just been confirmed as the NEW Secretary of the Treasury. The final vote was 68 – 29 to confirm.

Congratulations Scott! pic.twitter.com/zUWHRlcX9q

— Charlie Kirk (@charliekirk11) January 27, 2025

Bessent, 62, is the founder of the Connecticut-based hedge fund Key Square Group and a longtime ally of President Trump.

He served as an economic adviser to Trump’s presidential campaign and is a vocal supporter of the president’s economic policies, including his tariff plan, tax cuts, and efforts to scale back cryptocurrency regulations.

The confirmation vote occurred just over a week after Bessent’s January 16 hearing before the Senate Finance Committee, which advanced his nomination with bipartisan support.

Senator Mike Crapo (R-ID), the committee’s chairman, praised Bessent’s qualifications ahead of the Senate vote.

“Mr. Bessent has decades of academic, professional, and leadership experience relevant to this position, as well as the gravitas, demeanor, and character to be an effective secretary,” Crapo stated.

“There is no doubt that Mr. Bessent is an excellent choice for secretary of the treasury.”

During his confirmation hearing, Bessent shared his personal story, detailing his rise from humble beginnings in South Carolina to success in the finance industry.

He recounted starting work at the age of nine before earning a degree from Yale University.

“My life has been the only-in-America story that I am determined to preserve for future generations,” Bessent told the committee.

Bessent outlined his vision for the Treasury Department during his testimony, emphasizing the importance of advancing President Trump’s economic agenda.

He described the current moment as a “generational opportunity to unleash a new economic golden age that will create more jobs, wealth, and prosperity for all Americans.”

Among his top priorities, Bessent highlighted the need to extend Trump’s 2017 tax cuts, some of which are set to expire at the end of the year.

He warned that failing to renew the tax cuts would lead to an “economic calamity.”

Bessent is also a proponent of deregulation and spending restraint, aligning closely with the president’s economic policies.

I’d follow Scott Bessent into war.

“If illegal immigration is good for GDP, just build a road from Tierra del Fuego to the Rio Grande and let everyone in. We could double GDP… but per capita GDP per AMERICAN would drop substantially. It’s about Americans’ standard of living.” pic.twitter.com/M1x9Z03Uwn

— Geiger Capital (@Geiger_Capital) January 22, 2025

Bessent’s confirmation adds to the growing list of Trump administration cabinet officials who have been approved by the Senate.

Other confirmed nominees include Secretary of State Marco Rubio, Department of Homeland Security Secretary Kristi Noem, Secretary of Defense Pete Hegseth, and CIA Director John Ratcliffe.

The Senate is expected to hold additional votes this week on other cabinet nominees.

Confirmation hearings are scheduled for Thursday for Director of National Intelligence nominee Tulsi Gabbard, FBI Director nominee Kash Patel, and Health and Human Services nominee Robert F. Kennedy Jr.

Bessent’s confirmation marks a significant step forward for the administration as it moves to implement its economic priorities and further solidify its leadership team.

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