By Bo Erickson

(Reuters) – Senate Finance Committee Chairman Mike Crapo on Wednesday expressed optimism that the full Senate confirmation vote for U.S. President Donald Trump’s Treasury Secretary nominee, Scott Bessent, might occur next week.

Bessent secured a 16-11 vote in Crapo’s committee on Tuesday, garnering support from two Democrats. However, Crapo indicated to Reuters that Democrats are using many delay tactics.

As the minority party, Democrats can slow down confirmation votes through procedural strategies, and Senate Majority Leader John Thune mentioned that Senate confirmation votes might be pushed to the weekend.

Meanwhile, some Democrats are raising concerns about Bessent utilizing a tax loophole, which helped reduce the Medicare taxes paid by his hedge fund by $910,000 over three years—a claim disputed by the Internal Revenue Service.

During his confirmation hearing on January 16, Bessent stated he would set aside funds to pay any owed taxes once a decision is reached. He has also committed to shutting down the fund, Key Square, if his nomination is approved to prevent conflicts of interest.

However, Senator Elizabeth Warren, a Democrat, highlighted that Bessent “refuses to submit his own taxes for an audit and agree to pay what he owes. That’s a real problem for someone who would be in charge of the IRS.”

Currently, confirmation hearings for other significant economic positions, including Trump’s choice for Commerce Secretary, Howard Lutnick, and United States Trade Representative, Jamieson Greer, are yet to be scheduled by the Senate Commerce committee.