Senate Democrats are gearing up for a fight against Scott Bessent, President-elect Donald Trump’s pick for Treasury secretary.

The Senate Finance Committee holds a confirmation hearing for Scott Bessent, President-elect Donald Trump’s pick for the U.S. Treasury Secretary. The Senate Finance Committee holds a confirmation hearing for Scott Bessent, President-elect Donald Trump’s pick for the U.S. Treasury Secretary.

Scott Bessent, Donald Trump's pick for Treasury Secretary, stressed the importance of tax cuts for the wealthy during his confirmation hearing.

Mr. Bessent called the extension of the 2017 Trump tax cuts ‘the single most important economic issue of the day.’

This article was updated to correct Sen. Ron Wyden’s (D-Ore.) role on the Senate Finance Committee The Senate Finance Committee voted 16-11 on Tuesday morning to advance

The Senate Finance Committee voted 16-11 to advance Bessent’s nomination, clearing the way for a Senate floor vote in the coming days. Two Democrats — Sens. Mark Warner (D-Va.) and Maggie Hassan (D-N.H.) — joined with the committee’s Republicans in supporting Bessent for the top economic job in Trump’s Cabinet.

Britain's Labour government will back plans for a third runway at London's Heathrow Airport, finance minister Rachel Reeves announced on Wednesday, saying the project could create over 100,000 jobs in the economy.

A federal judge has temporarily blocked a Trump administration freeze on federal grants and loans that could total trillions of dollars and cause disruptions in health care research, education programs and other initiatives.

With the national debt above $36 trillion, newly-confirmed Treasury Secretary Scott Bessent vowed to rein in government spending. The investor and hedge fund manager, who cleared the Senate on Monday with a vote of 68-29,

Scott Bessent, a South Carolina resident and billionaire investor, was confirmed by the U.S. Senate on Monday.

The U.S. Senate today confirmed Scott Bessent to be President Donald Trump’s Treasury secretary, giving the billionaire hedge fund manager a central role in shaping the new administration’s policy ambitions around tax cuts and spending and managing economic relationships with allies and adversaries alike.