Scott Bessent's Senate Nomination Clears Key Committee Vote

The Senate Finance Committee approved Scott Bessent's nomination as Treasury Secretary with a 16-11 vote. Supported by all Republicans and two Democrats, Bessent now heads for a full Senate vote. If confirmed, he'll oversee economic policy, financial regulations, and manage the nation's massive debt and tax collections.

The U.S. Senate Finance Committee has moved forward with the nomination of Scott Bessent, a billionaire hedge fund manager, for the position of Treasury Secretary in President Donald Trump's administration.

The committee voted 16-11, with unanimous Republican backing and support from two Democratic Senators, Mark Warner and Maggie Hassan, advancing the nomination to a final Senate confirmation vote.

If confirmed, Bessent will play a crucial role in shaping economic policy, overseeing financial regulations, and managing the nation's taxes and $28 trillion debt market.

(With inputs from agencies.)