Scott Bessent, a South Carolina billionaire and advocate for deficit reduction and deregulation, has been chosen by President-elect Donald Trump to serve as his next treasury secretary. If confirmed by the Senate, Bessent will manage the nation’s finances.
Here are four key things about Bessent:
* He worked for George Soros and donated to Democratic causes before becoming a Trump supporter.
* Bessent advocates for cutting spending while extending tax cuts, citing estimates that range between $6 trillion to $10 trillion over 10 years.
* He views tariffs as a tool to achieve foreign policy objectives, such as deterring military aggression and securing cooperation on issues like immigration and defense spending.
* If confirmed, Bessent would be the first openly gay treasury secretary in a Republican administration.
Source: https://apnews.com/article/treasury-election-scott-bessent-trump-e4df1ef61309ee78f2affc2d9eabeff1