Bessent Confirmed as Trump’s Treasury Chief, Giving Him Key Role in Extending Tax Cuts

The South Carolina resident will be the first openly gay individual to serve in the role, a historic first.

AP/Yuri Gripas, file
President Trump's Treasury secretary, Scott Bessent, at the Capitol, January 15, 2025. AP/Yuri Gripas, file

WASHINGTON — The Senate confirmed billionaire investor Scott Bessent on Monday to serve as President Trump’s treasury secretary, giving him the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn’t jeopardize growth.

He was confirmed on a 68-to-29 vote, with 16 Democrats voting in favor of making him the nation’s 79th treasury secretary.

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