The new management is “usher in a new, more healthy era of prosperity that will raise up all Americans and restore communities and people across the country,” according to President-elect Trump ‘s choice for the position of Treasury Department director.
Nominee , Scott Bessent, began his speech during his Senate confirmation hear by reflecting on his culture in the South Carolina Lowcountry, emphasizing how his earlier life shaped his work ethic and dedication. When I was younger, my parents encountered severe financial difficulties.
” When I was 9 years old, I started working two summer jobs and I haven’t stopped working since. I’m determined to keep the “only in America” story that has been my life for the past.
Bessent continues to express his opinion that the incoming Trump presidency has a special opportunity to spur economic growth. ” Now, I believe that President Trump has a millennial chance to unleash a new financial golden years that will create more jobs, wealth, and happiness for all Americans”, he stated.
Bessent emphasized the importance of upholding and expanding the 2017 Tax Cuts and Jobs Act, which he believes is essential to economic development. He warns that ignoring the law could result in” the biggest tax increase in history, a crushing$ 4 trillion tax hike.”
” We must create lasting the 2017 Tax Cuts and Jobs Act and adopt new pro-growth policies to minimize the tax burden on American companies, service personnel, and elderly”.
Bessent calls for action to protect supply chains from” proper competition”, and activists for” properly deployed sanctions” to protect national security and economic objectives. Ensuring that the U. S. money remains the country’s reserve money is important, he noted, as well as the need to emphasize investments that grow the business rather than employ in “wasteful spending” that fuels inflation.
” Members of the Committee, these are just some of the many important goals that President Trump has laid out for me and others on his economic team”, Bessent’s testimony concludes. ” I firmly believe that, if confirmed, and with your counsel and support, we can usher in a new, more balanced era of prosperity that will lift up all Americans and rebuild communities and families across the country,” he said.
