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.

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

Bessent is a former protégé of George Soros, the billionaire investor and Democratic mega donor. After Trump won the election in November, Bessent won an unusually public – and messy – contest to be nominated for the Treasury Secretary role.

The Treasury secretary nominee cultivated allies in Trump’s orbit who have come to see him as a brainy avatar of their vision.

The stakes have never been higher, but with Bessent at the helm of the Trump economic team, a brighter future is within reach.

Nominee for U.S. Treasury secretary, Scott Bessent, is expected to declare during his confirmation that Trump will usher in "a new economic golden age."

Their exchange on the minimum wage shows two views of the world.

Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.

Senate Majority Leader John Thune (R-S.D.) is making good on his threat to keep the Senate working after hours, vowing to go straight through the weekend if Minority Leader Chuck Schumer (D-N.Y.) doesn't cut a deal to speed things up.

The U.S. Treasury has taken extraordinary measures to delay breaching the federal debt limit by suspending G Fund reinvestments, extending borrowing capacity by $300 billion. Acting Treasury Secretary David Lebryk calls for congressional action while nominee Scott Bessent awaits confirmation amid ongoing debt ceiling negotiations.

But one of the first questions Bessent faced was whether he would let the Internal Revenue Service offer taxpayers a free tax-filing platform this tax season, which starts Jan. 27. “Will you commit to keeping Direct File up and running if you’re confirmed?