The Senate Finance Committee holds a confirmation hearing for Scott Bessent, President-elect Donald Trump’s pick for the U.S. Treasury Secretary. The Senate Finance Committee holds a confirmation hearing for Scott Bessent, President-elect Donald Trump’s pick for the U.S. Treasury Secretary.

Senate Democrats are gearing up for a fight against Scott Bessent, President-elect Donald Trump’s pick for Treasury secretary.

Their exchange on the minimum wage shows two views of the world.

Mr. Bessent called the extension of the 2017 Trump tax cuts ‘the single most important economic issue of the day.’

Treasury Secretary nominee Scott Bessent is on track to be confirmed following a confirmation hearing Thursday lacking the theatrics some of his would-be Trump administration colleagues have faced, with questions largely keeping to policy issues like the federal budget and trade tariffs.

In a new memo obtained by NBC News, Senate Finance Democratic tax staff found that Scott Bessent avoided over $950,000 of self-employment taxes.

Scott Bessent, President-elect Donald Trump's choice to be Secretary of the Treasury, appears before the Senate Finance Committee for his confirmation hearing, at the Capitol on Thursday, Jan. 16, 2025, in Washington.

Donald Trump's pick for Treasury secretary repeatedly defended a range of tariff ideas during his confirmation hearing before Senate lawmakers Thursday.

Trump Treasury Secretary pick Scott Bessent testifies during his Senate confirmation hearing.

Ronald Reagan had his “ Miss Rosy Scenario ” and “ magic asterisks ” to make his deficit numbers seem better than they actually were. Every Republican president since has used (and abused) a famous napkin sketch to pretend that tax cuts always pay for themselves.

Asked whether Congress should abandon the federal debt ceiling, Bessent said that if Trump requested that, he would work with Congress to make it happen