Tag Archives: Treasury Secretary

Treasury Secretary Scott Bessent on Sunday sought to calm public concerns about the possibility of a recession and plummeting retirement savings, asserting that President Donald Trump’s administration is focused on long-term prosperity despite market volatility. During an interview on NBC’s “Meet the Press,” Bessent called recent fears surrounding the stock …

On Monday, the Senate confirmed Scott Bessent, a hedge fund manager and longtime financial expert, as the 79th U.S. Treasury secretary. With a bipartisan vote of 68-29, Bessent became the first openly gay person to hold the position, signaling a historic moment for the country. Fifteen Democrats and one independent …

President-elect Donald Trump’s choice for Treasury secretary appeared on track for Senate confirmation after a wide-ranging hearing Thursday that included substantial debate on tax policy and how tariffs would affect everyday Americans. Scott Bessent, a hedge fund manager whom Trump announced as his pick in November, repeatedly deferred to the incoming …

Four U.S senators this week called on Treasury Secretary Janet Yellen to use her existing authority to go after American billionaires and multimillionaires who “use trusts to shift wealth to their heirs tax-free, dodging federal estate and gift taxes.” “They are doing this in the open: Their wealth managers are …

John McCosh, Georgia Recorder Congress has until at least July to broker a bipartisan debt agreement if lawmakers want to avoid a first-ever default, according to the Congressional Budget Office. The nonpartisan scorekeeper, which typically details how much legislation would cost, released a report Wednesday saying that U.S. lawmakers and …

Jennifer Shutt, Pennsylvania Capital-Star The U.S. government will hit its borrowing limit next week, forcing the new, divided Congress into negotiations over the debt limit much sooner than expected, though a potential date for the nation to default isn’t expected until this summer. Treasury Secretary Janet Yellen wrote to Congress …

Treasury Secretary Janet Yellen said on Tuesday that Congress has until Oct. 18 to raise or suspend the debt limit before the United States is expected to default on the national debt. “We now estimate that Treasury is likely to exhaust its extraordinary measures if Congress has not acted to …

A federal judge on Wednesday ruled against an effort by Ohio’s Republican attorney general to temporarily block a provision of President Biden‘s coronavirus relief law that forbids states from using federal aid to offset any future tax cuts. “The bottom line is this – preliminary injunction that stands no meaningful prospect …