Out gay billionaire hedge fund manager Scott Bessent was confirmed by the Senate today as Donald Trump’s Treasury Secretary by a vote of 68-29.
Breaking News: Senators confirmed Scott Bessent as Treasury secretary. He’ll steer an agenda focused on tax cuts, tariffs and deregulation.
From the New York Times:
The new Treasury secretary will be responsible for helping to develop the Trump administration’s tax policies, plot the path for more tariffs on Mexico, Canada and China, and craft the administration’s first budget.
Mr. Bessent won strong bipartisan support, with 16 Democrats joining Republicans in backing his nomination.
The job will be Mr. Bessent’s first time overseeing a sprawling organization or working in government. Mr. Bessent, who is the first openly gay Treasury secretary, said during his confirmation hearing that he was previously turned away from public service opportunities because of his sexual orientation.
During his confirmation hearing, Bessent said extending Trump’s first term tax cuts for the wealthy will be his priority. He also opposes raising the federal minimum wage, and supports Trump’s tariffs. Bessent is now fifth in line to the presidency, which means he is the highest-ranking openly LGBTQ official in U.S. history.
Donald Trump’s pick to run his Treasury Department: Billionaire Scott Bessent.
[image or embed] — The Democrats (@democrats.org) January 27, 2025 at 12:53 PM
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