The Senate Finance Committee held a confirmation hearing for Scott Bessent for secretary of the treasury on Jan. 16, 2025. At the time the hearing ended, the committee had not yet scheduled a meeting to vote on Bessent’s nomination. Bessent must receive a majority approval vote in the committee before his nomination can be put up for a confirmation vote before the full Senate. 

President Donald Trump (R) nominated Bessent on Nov. 22, 2024. Trump said of Bessent’s nomination, “Scott has long been a strong advocate of the America First Agenda. On the eve of our Great Country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the U.S. Dollar as the Reserve Currency of the World.”

The Senate Finance Committee is chaired by Sen. Mike Crapo (R-Idaho) and Sen. Ron Wyden (D-Ore.) is the ranking Democratic member. To watch the full hearing, click here.

This was the third day of confirmation hearings for incoming President Trump’s Cabinet nominees. The first hearing was held on Jan. 14, 2025, for secretary of defense nominee Pete Hegseth. To read more about the confirmation process for Trump’s Cabinet nominees, click here.