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, listens to Sen. Lindsey Graham, R-S.C., right, give an introduction to the Senate Finance Committee for his

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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.

Scott Bessent, US Treasury nominee, faces scrutiny from Democrats on tax policy and national debt during Senate Finance Committee hearing.

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 .

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

The Senate is expected to confirm Marco Rubio as secretary of state within hours of Trump’s swearing-in, but the rest of the president’s Cabinet is going to be a grind. Trump’s legislative agenda is also off to a slow start, although Congress will send him an immigration crackdown to sign, possibly by week’s end.

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

Bessent spoke before the Senate Finance Committee about his economic vision for America, addressing key issues like tax policy, inflation and wealth inequality.