
Trump Treasury Secretary Pick Scott Bessent Destroys Oregon Senator Ron Wyden’s Delusions About Tariffs and Fake ‘Clean Energy’
Scott Bessent, President-elect Donald Trump’s nominee for Treasury Secretary, appeared before the Senate Finance Committee today for his confirmation hearing.
Bessent, a hedge fund manager and Key Square Group founder, expressed hope that the incoming administration will usher in “a new economic golden age.”
Central to Bessent’s testimony was the emphasis on bolstering vulnerable supply chains and ensuring the U.S. dollar’s status as the world’s reserve currency.
He advocated for the implementation of tariffs and tax cuts as mechanisms to stimulate economic growth and enhance American competitiveness, in line with President Trump’s America First vision.
Recall that Trump’s proposed measures include a 25% tariff on imports from Canada and Mexico and an additional 10% tariff on Chinese goods, set to take effect shortly after his inauguration.
President Trump announced in a statement Tuesday that he will create an External Revenue Service to counter the Internal Revenue Service’s (IRS) taxation of American citizens.
This new agency will “collect our Tariffs, Duties, and all Revenue that come from Foreign sources,” said Trump.
However, the nominee faced rigorous questioning from senators regarding the potential repercussions of these policies.
Senator Ron Wyden (D-Ore.) expressed concerns that the proposed tariffs would adversely affect consumers, describing them as a “class war on typical American families.”
“The ultimate distillation of the Trump agenda is paying for tax breaks for the top by increasing child hunger, booting tens of millions off their health insurance and laying off hundreds of thousands of manufacturing workers,” Wyden said.
“It amounts to a class war on typical American families. Scott Bessent, if confirmed, will be right in the middle of it,” he added.