Senate Votes on Scott Bessent’s Nomination

(Reuters) – The U.S. Senate Finance Committee voted to advance the nomination of billionaire hedge fund manager Scott Bessent as Treasury Secretary to the full Senate for approval.

The committee’s vote was 16-11, with all Republicans in favor of the nomination, alongside support from two Democrats, Mark Warner and Maggie Hassan.

If confirmed, Bessent, 62, will play a crucial role in the new administration’s economic policy, exerting significant influence over fiscal policy, financial regulations, international sanctions, and foreign investments. He will also be responsible for managing the nation’s tax collections and its $28 trillion Treasury debt market.