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.’

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.

He has said the U.S. faces economic calamity if Congress does not renew key provisions of Trump’s Tax Cuts and Jobs Act that are set to expire Dec. 31, 2025.

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.

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 program

Scott Bessent, a billionaire hedge fund manager, will lead President Donald Trump 's financial agenda as treasury secretary. Bessent was confirmed in a 68-29 U.S. Senate vote on Monday and sworn in on Tuesday. It is his first time overseeing a sprawling organization or working in government, The New York Times reported .

Scott Bessent was sworn in as Treasury Secretary on Tuesday, taking the helm of one of the government agencies most critical to President Donald Trump’s sweeping economic agenda.