US Senate planning Jan. 16 hearing for Trump Treasury pick Bessent, Politico reports
Source: Reuters
January 9, 2025 3:26 PM EST Updated 4 hours ago
WASHINGTON, Jan 9 (Reuters) - The U.S. Senate Finance Committee is planning a Jan. 16 hearing on President-elect Donald Trump's nominee to lead the U.S. Treasury Department, Scott Bessent, Politico reported on Thursday, citing three unnamed sources familiar with the panel's plans.
Amanda Critchfield, a spokesperson for the Finance Committee's new Republican chair, Senator Mike Crapo, said a hearing date has not been officially set, adding: "Senator Crapo is committed to moving Bessent's nomination as quickly as possible."
Trump chose hedge fund investor Bessent as his Treasury secretary in November after a dramatic battle among prominent financiers for the coveted position that wields vast influence over U.S. economic, tax, regulatory and international affairs.
Bessent faces a number of challenges, including rising bond yields that will make it more difficult to manage a $36 trillion federal debt load that is forecast to grow by nearly $8 trillion over a decade if Trump's tax cut plans are implemented without offsetting savings.
Read more: https://www.reuters.com/world/us/us-senate-planning-jan-16-hearing-trump-treasury-pick-bessent-politico-reports-2025-01-09/