President-elect Donald Trump’s pick for Treasury secretary testifies Thursday before the Senate Banking Committee.

In a new memo obtained by NBC News, Senate Finance Democratic tax staff found that Scott Bessent avoided over $950,000 of self-employment taxes.

The Senate Finance Committee grilled President-elect Donald Trump’s choice for Treasury Secretary Thursday. Scott Bessent, a South Carolina billionaire hedge fund manager, wasted no time getting to the crux of his confirmation hearing: the expiring Trump tax cuts.

Donald Trump’s nominee for secretary of the Treasury, Scott Bessent, who lives in Charleston, South Carolina with his husband and family, could become first Senate-approved LGBTQ+ member in a Republican cabinet.

Scott Bessent told Sen. Ron Wyden, during his confirmation hearing to serve as Donald Trump's Treasury Secretary, he believes Chinese companies are likely to reduce prices in response to American tariffs,

Trump's picks fit into three groups: the fortifiers (the good), the detractors (the bad), and the mercurial influencers who might do good or harm.

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

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

Scott Bessent, President-elect Donald Trump’s nominee for Treasury secretary, will step into the spotlight this week, with the Senate Finance Committee scheduled to start his confirmation hearing at 10:30 a.

Thursday’s trio of confirmation hearings for President-elect Donald Trump’s Cabinet nominees put the focus squarely on Trump’s domestic and economic agenda, which will dominate the debates on Capitol Hill this year.