The Senate is confirmed by Scott Bessent as the Secretary of Finance

The Senate on Monday voted 68 to 29 to confirm that Scott Bessent is the Secretary of President Trump, and pilot the agenda in charge of the agenda focusing on tax reduction, tariffs, and deregulation. I introduced a person.

Bessent, a billionaire hedge fund manager who has a deep experience in the financial market, has taken over his job because Trump has sprinted to recreate the US economy in accordance with his “American First” vision. Masu. The new Finance Secretary is responsible for the development of the Trump administration's tax policy, planning Mexico, Canada and China's more tariffs, and creating the first budget for the administration.

Bessent gained the support of a powerful bondive party, and 16 Democrats joined to support the Republican members.

This is the first time that Bessent has been supervising a vast organization or working in the government. Bessent, the first public and homosexual fiscal secretary, said in his hearing that he was removed from public service opportunities for his sexual orientation.

Bessent's arrival at the Ministry of Finance has a sharp departure from the Biden administration's policy. The program in the department focusing on fairness and climate is expected to be closed, and Bessent says that the staff will not be allowed to work remotely.

Many of the presidential orders signed by Trump in the first week will study with the Ministry of Finance and Vessent. He has already been urging the execution of a new “external revenue service” to collect tariff income, reviews the currencies of US trading partners, and identifies foreign countries that use Americans to discriminatory taxes. Masu.

One of the most imminent business orders faced by Vessent is to deal with debt restrictions. Before taking office, the Finance Secretary Janet L. Yelen from the parliament to prevent the United States from defaulting debt if the lawmakers did not lift or pause in the national borrowing funds. The Ministry of Finance warned that the Ministry of Finance would need to develop special measures.

If a member of the Diet is struggling to reach debt restrictions by this summer, Vessent will carefully manage federal expenditures and accounting and the United States can pay invoices. I will receive.

As a Finance Secretary, Vessent will be the center of economic negotiations with China. In a confirmation hearing on January 16, he stated that during the first week of work, he pushed his Chinese counter part and promised the country in the 2020 trade contract signed by the United States. Ta.

The Ministry of Finance also supervises the membership of the United States Revenue Agency, which the committee has resigned on the day of Trump's inauguration, and Bessent is responsible for a change to the tax institution that the Republican members traditionally disliked. Millions of taxpayers are preparing to submit tax returns, and the staff's staffing and leadership are in the scope, which can be difficult.

Bessent is in the process of selling many of his investments to avoid potential conflicts. He shows that the Democratic Party's staff has gained revenue from his hedge funds to avoid paying over $ 900,000 for salary tax. I faced a question from the Democratic Party.

Vessent argues that if he was acting in accordance with the tax law, the change was changed to a problem -it is currently subject to the lawsuit.

Many Trump's cabanet picks have been controversial, but Vessent, once a major donor to the Democratic Party, gained the support of them.

In a confirmation hearing, Bessent suggested that Trump's second term is “a generation that relieves a new economic golden age that creates more employment, wealth and prosperity by all Americans.”