Scott Bessent has been confirmed as the 79th Secretary of the Treasury Department following a bipartisan Senate vote of 68-29. Bessent, nominated by President Donald Trump, succeeds former Treasury Secretary Janet Yellen. His confirmation comes as the Trump administration aims to extend its 2017 tax cuts and implement other tax reforms.
Bessent, a Yale graduate and former chief investment officer at Soros Fund Management, will be the first openly gay Treasury Secretary in U.S. history. He has expressed strong support for Trump's economic agenda, emphasizing the potential for job creation and prosperity.
In his confirmation hearing, Bessent faced inquiries regarding the Republican push to renew the Trump tax cuts, which Democrats oppose, labeling them as beneficial primarily to the wealthy. Bessent defended the tax plans, asserting a generational opportunity for economic growth.
On another front, Brazil's foreign ministry has summoned U.S. Charge d'Affaires Gabriel Escobar to address concerns over the treatment of undocumented Brazilian migrants deported back to Brazil over the weekend. The meeting underscores ongoing diplomatic tensions as Brazil seeks clarification on the U.S. government's actions towards its citizens.