(TNND) — The senate plans to vote on the confirmation of Scott Bessent as treasury secretary on Monday evening.
Bessent, 62, is the founder of Connecticut-based hedge fund Key Square Group and is prepared to assist President Trump in introducing new economic policies. He would be the first Senate-confirmed openly gay Cabinet member of a Republican administration.
“Scott has long been a strong advocate of the America First Agenda,” President Trump said in a statement announcing his treasury secretary pick in Nov. 2024. “On the eve of our Great Country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the U.S. Dollar as the Reserve Currency of the World.”
While Bessent is an ally of Trump, he was the chief investment manager for George Soros, a billionaire philanthropist known for supporting liberal causes from 2011 to 2015.
Bessent remains a vocal supporter of Trump’s policies in recent years including his plans to embrace the cryptocurrency industry, implement tariffs and spending cuts.
As treasury secretary, Bessent would oversee the department that manages the nation’s finances and the IRS.
Bessent’s confirmation vote follows a number of already confirmed nominees for Trump’s Cabinet, including Defense Secretary Pete Hegseth, Homeland Security Secretary Kristi Noem, Secretary of State Marco Rubio and CIA Director John Ratcliffe.
This week, the Senate is expected to move forward with other confirmation votes – many, which have been controversial including Tulsi Gabbard for director of national intelligence, Robert F. Kennedy Jr. For secretary of Health and Human Services and Kash Patel for FBI director.
