The Senate is scheduled to vote on Monday afternoon to confirm the president Donald Trump Choose to lead the Ministry of Treasury.
The Senate voted on Saturday to make Scott Pesin's nomination with a margin of 67-23 and is expected to be confirmed on Monday.
Bessent recently appeared in front of the Senate Finance Committee for his confirmation session, where he contacted an extension Tax Discounts Law for the year 2017 Trump agreed during his first term.
“This is the most important individual economic issue on this day,” Pesin, billionaire in the hedge fund from South Carolina, told legislators.
Trump Treasury Pick: Extension of Trump's tax cuts “the most important one economic issue”
Scott Beesen, Trump's choice of leading the treasury, said that the expansion of the 2017 discounts and jobs law is “the most important economic number on this day.” (Vincent dairy/Bloomberg via Getti Imas)
“If we do not renew the extension, we will face an economic catastrophe.” “As always, with financial instability, this falls on the middle layer and the working layer.”
BESSENT warned that increasing the “giant” middle class tax will happen if tax discounts end.
Many of the repairs listed in Tax Discounts Law for the year 2017 It is scheduled to end in 2025. groups such as Americans for prosperity, a popular network founded by Billionaire Koch Brothers, claim that millions of Americans will face a rise of $ 1500 in taxes in 2026 if the discounts are not renewed.
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Scott Payette, director of the investor fund and hedge coach, is witnessing the hearing of the Senate Finance Committee on his candidacy to be the Treasury Secretary in the Capitol Hill, January 16, 2025. (Getty)
But the critics of Trump's tax plan, including democratic lawmakers such as Senator Elizabeth Warren, Maj, and groups such as the Center for the Liberal Public Policy Institute for American Progress, argued that the cuts only benefited from the wealthy and claimed that the privileges failed to reach ordinary workers.
However, Pesin said that Trump and his administration would create the “golden age” from the economic prosperity of all Americans.
The Senate is expected to confirm President Donald Trump's choice of the leadership of the Treasury, Scott Pesin, on January 27, 2025. (Kevin Lamark/Reuters/Photo File)
“Today, I think President Trump has an opportunity for generations to launch the new economic age, which will create more jobs, wealth and prosperity for all Americans,” Pesin said in his confirmation session.
Trump's economic plan includes extension of the 2017 tax cuts and the imposition of customs tariffs ranging from 10 % to 20 % on all imported goods. For countries like China, this number can rise to 60 %.
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Pesin, who was previously written OP-ED FOX News Digital Supporting the use of customs tariffs, supporting the employment of the Trump administration for tariffs in multiple exchanges with legislators during the confirmation session.
The Ministry of Treasury is responsible for the Federal Financial Affairs Department and the supervision of agencies that include the Tax Authority.
