The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to serve as President Donald Trump's treasury secretary, giving him the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn't jeopardize growth.

The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to become the next Treasury secretary and enact the Trump administration's economic agenda of tax cuts and tariffs.

Scott Bessent, President-elect Donald Trump‘s nominee for treasury secretary, defended the Trump tax cuts during his confirmation hearing and said it is crucial for middle-class families that the cuts are extended.