Trump Makes His Picks For Treasury Secretary And Lead Budget Office [WATCH]

President-elect Donald Trump announced the nomination of Scott Bessent as Secretary of the Treasury on Friday, alongside the appointment of Russ Vought to lead the Office of Management and Budget (OMB).

Congratulations to Scott Bessent for becoming the first member of #GaysForTrump to be nominated for Treasury secretary! pic.twitter.com/qApQ79N4w4

— Gays For Trump (@GaysForTrump24) November 22, 2024

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These key appointments signal Trump’s focus on revitalizing the U.S. economy and streamlining federal operations as he prepares to return to the White House in January.

Trump praised Bessent’s extensive experience as a global investor and economic strategist. “I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,” Trump said in a statement.

“Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists. Scott’s story is that of the American Dream.”

Trump emphasized that Bessent’s leadership will drive a “Golden Age” for the United States by bolstering economic growth, innovation, and entrepreneurialism.

“Scott has long been a strong advocate of the America First Agenda,” Trump added. “He will help me usher in a new Golden Age for the United States, fortify our position as the World’s leading Economy, and maintain the U.S. Dollar as the Reserve Currency of the World.”

NEW: President Trump announces the nomination of Scott Bessent as Treasury Secretary. pic.twitter.com/nFII1dRqd2

— Trump War Room (@TrumpWarRoom) November 23, 2024

Bessent, founder and CEO of Key Square Group, has been a vocal supporter of Trump’s economic policies, including tax cuts, deregulation, and trade negotiations leveraging tariffs.

He has also advocated for cryptocurrency regulation reform and increased domestic energy production.

In a statement, Consumer Bankers Association President Lindsey Johnson welcomed Bessent’s nomination. “We applaud Mr. Bessent’s recent comments in which he has called for a surge in small business optimism, a smart deregulatory banking agenda, and support for Main Street,” Johnson said.

Bessent’s nomination will require Senate confirmation, where a 53-seat Republican majority is expected to ease the process.

Trump also announced the reappointment of Russ Vought as director of the OMB, a position he held during Trump’s first term.

“Russ has spent many years working in Public Policy in Washington, D.C., and is an aggressive cost cutter and deregulator,” Trump stated on Truth Social. “Russ knows exactly how to dismantle the Deep State and end Weaponized Government.”

Thank you @realDonaldTrump! There is unfinished business on behalf of the American people, and it’s an honor of a lifetime to get the call again. https://t.co/iqxO733w63

— Russ Vought (@russvought) November 23, 2024

Vought will be tasked with developing Trump’s proposed budget and implementing the America First agenda across federal agencies.

Trump praised Vought’s past performance, citing regulatory cuts and fiscal discipline as hallmarks of his leadership.

“He did an excellent job serving in this role in my First Term,” Trump said. “We cut four Regulations for every new Regulation, and it was a Great Success.”

Both nominees will face Senate confirmation hearings.

Bessent’s hearing will be conducted by the Senate Finance Committee, while Vought’s will be overseen by the Senate Budget Committee.

These hearings are expected to begin before Inauguration Day to facilitate rapid confirmations.

With these nominations, Trump aims to solidify his administration’s focus on economic growth, fiscal responsibility, and streamlined governance as he prepares to re-enter the Oval Office in January.

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