During the confirmation hearing for Scott Bessent in the Senate this week, Senator Lindsey Graham offered glowing praise to nominee Scott Bessent during his introduction.

Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story  Trump’s Treasury nominee takes center stage Scott

Scott Bessent, left, President-elect Donald Trump's choice to be Secretary of the Treasury, arrives with Sen. Lindsey Graham, R-S.C., right, before the Senate Finance Committee for his confirmation hearing,

Why it matters: The procedural and budgetary gambit will free Republicans from the burden of finding the $4 trillion in spending cuts. But deficit hawks, including member of the House Freedom Caucus, haven't completely signed off on the novel approach.

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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.

Extending the 2017 Tax Cuts and Jobs Act is a top economic priority, and failing to keep tax cuts in place will wreak havoc on the middle class, according to President-elect Trump’s pick to lead the Treasury Department, Scott Bessent .

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.

Hedge fund manager Scott Bessent, President-elect Donald Trump's pick for Treasury Secretary, will appear before the Senate Finance Committee for his confirmation hearing Thursday morning starting at 10:30 am.

Follow live updates from Donald Trump's presidential inauguration as he is sworn in as the 47th US President to succeed Joe Biden.

"It's 'Real Housewives' meets 'The Bachelor' meets 'The Apprentice,'" one source said of the scene at Mar-a-Lago. "Viper pit."