Scott Bessent, President-elect Donald Trump's choice to be Secretary of the Treasury, appears before the Senate Finance Committee for his confirmation hearing, at the Capitol on Thursday, Jan. 16, 2025, in Washington.

U.S. Treasury nominee Scott Bessent on Thursday faced sharp questions from Democrats on tax policy, tariffs, China, Russia sanctions and the future of an IRS tax filing system that Republicans have called to be cut.

Hedge fund executive Scott Bessent will face a Senate confirmation hearing for Treasury secretary on Thursday, which could make him the first openly gay Cabinet member of a Republican administration.

Scott Bessent, Donald Trump's nominee for Treasury Secretary, said during a confirmation hearing Thursday that he is "perplexed" that the Biden administration did not impose more sanctions and tariffs on Russia's economy.

Here's what to know about the Treasury secretary pick Bessent, who heads into his confirmation hearing and may become the first Senate-approved LGBTQ+ member in a Republican cabinet.

Follow along with MarketWatch's live coverage of the Senate confirmation hearing for Scott Bessent, President-elect Donald Trump's nominee for Treasury secretary.

Scott Bessent, President-elect Trump's pick for treasury secretary, will appear for a Senate Finance Committee confirmation hearing today, where he will discuss the incoming president's economic vision.