The legislature approved on Monday Scott Bessent, a gay billionaire for the position of Secretary of the Treasury. He is the first LGBTQ+ individual in office
The United States has a fresh secretary of the treasure. The legislature approved a candidate named by Trump. The nomination for Scott Bessent was approved by 68-29 votes, of which 23 Democrats voted for the Republican.
Bessent is the 5th associate of Trump's cabinet approved by the legislature after the ministers' chiefs: diplomacy [Marco Rubio], defence [Pete Hegseth], national safety [Kristi Noem[and CIA manager [John Ratcliffe]].
During hearings before the legislature Finance Commission, a billionaire and 1 of run sponsors Donald Trump declared his support for extending the taxation cuts introduced during Trump's first term, as well as introducing fresh duties and the national Reserve's independence. He besides claimed that Trump's duties would not increase prices for US consumers.
Bessent besides expressed his support for expanding sanctions against Russia, including the oil sector.
For: https://news.onet.pl/world/scott-bessent-new-secretary-carb-usa-senat-approved-candidature/zphzr31
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The legislature approved on Monday Scott Bessent, a gay billionaire and founder of the hedge fund, for the position of Secretary of the Treasury in the 68-29 vote. He is the first LGBTQ+ individual in office and 1 of the fewer to always hold a position in office or at cabinet level.
The 62-year-old Bessent is expected to work with Republicans in the home of Representatives and the legislature to extend president Donald Trump's 2017 taxation cuts as well as to work on the national debt ceiling.
It will besides be in the foreground erstwhile Trump will press for customs on products from many countries, including Mexico and Canada. This plan could harm the US economy, notes CNN.
The author besides notes that Bessent takes a position erstwhile the economy is reasonably unchangeable — unemployment is only 4.1 percent.
During the approval process, Bessent spoke of an economical plan "3-3-3" for the country. It plans to reduce the national budget deficit by 3 percent, reaching 3 percent of GDP and expanding oil production to 3 million barrels a day by 2028.
"Scott has long been a passionate supporter of Agenda America First," Trump said in a message in November. "On the eve of the 250th anniversary of our large Country, it will aid me to start a fresh Golden Age for the United States as we strengthen our position as the world's leading economy, the centre of innovation and entrepreneurship, the destination of capital, while always and without a uncertainty keeping the US dollar as the reserve currency of the world."
The recently approved secretary is the first gay associate of the cabinet in the Republican administration approved by the Senate. Richard Grenell, a gay Republican and longtime Trump ally, served as manager of national intelligence in Trump's first administration after being an ambassador to Germany. The manager of national intelligence is not part of the cabinet, but is considered a associate of the cabinet, so Grenell was the first individual to openly admit homosexuality that achieved it. Given the temporary nature of his position, he did not request the approval of the Senate. Pete Buttigieg, Transport Secretary at Biden's Administration, was the first cabinet authoritative approved by the Senate.
Bessent is the founder of Key Square Capital Management. However, his past may upset any of the MAGA supporters. From 2011 to 2015, before Key Square was established, he was the investment manager for Soros Fund Management, a hedge fund founded by George Soros, and Bessent worked for Soros during various periods since 1991. Soros is the main donor of Democrats and the black character of the far right. any right-wingers claim — falsely — that Soros pays protesters who come to support liberal affairs. But “Trump liked [Bessent] his honest, billionaire background and the fact that he switched to the MEGA movement after working for Soros,” reports CNN.
Bessent donated donations to Trump's presidential run and advised him on economical policy issues. He besides supported another Republican politicians and is simply a longtime friend of Vice president J.D. Vance, but besides donated to Democrats including Al Gore, Hillary Clinton and erstwhile president Barack Obama. In 2000, he organized a fund-raiser for Gore's presidential campaign.
He lives in South Carolina with his husband, John Freeman, a erstwhile fresh York prosecutor. They have 2 children.
For: https://www.yahoo.com/news/scott-bessent-gay-billionaire-hedge-18495901.html?guccounter=1
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Donald Trump nominated Scott Bessent, a billionaire and investment manager who is gay, as Secretary of the Treasury.
Bessent, if approved by the U.S. Senate, will be the first revealed associate of the LGBTQ+ community as Secretary of the Treasury and 1 of the fewer who have always held office or cabinet level positions.
"Scott has long been a hot supporter of Agenda America First," Trump said in a message on Friday confirming the earlier reports of respective major media outlets that Bessent would be nominated as Secretary of the Treasury. "On the eve of the 250th anniversary of our large Country, it will aid me to start a fresh Golden Age for the United States, strengthening our position as the world's leading economy, the centre of innovation and entrepreneurship, the destination of capital, while always and without a uncertainty keeping the US dollar as the world's reserve currency".
Bessent, 62, is the founder of Key Square Capital Management, a hedge fund. However, his past may upset any of the MAGA supporters. From 2011 to 2015, before he founded Key Square, he was the investment manager for Soros Fund Management, a hedge fund founded by George Soros, and Bessent worked for Soros at various periods since 1991. Soros is the main donor of Democrats and the black character of the far right. any right-wingers claim — falsely — that Soros pays protesters who come to support liberal affairs. But “Trump liked [Bessent] his honest, billionaire background and the fact that he switched to the MEGA movement after working for Soros,” reports CNN.
Bessent donated to Trump's presidential run and advised him on economical policy issues. He supported another Republican politicians and is simply a longtime friend of Vice president Elect J.D. Vance, but besides donated donations to the Democrats, including Al Gore, Hillary Clinton and Barack Obama. In 2000, he organized a fund-raiser for Gore's presidential campaign.
Bessent “could get two-party support”, reports the Associated Press, but any Democrats have already expressed skepticism towards him. "Donald Trump pretends to be an economical populist, but it would not be the Trump Treasury Department without a wealthy political donor managing the program," said Democratic Senator Ron Wyden of Oregon, president of the legislature Finance Committee. "As far as the economy is concerned, Trump's government is with, through and for the ultrarich".
Bessent "signed support for a more gradual approach to tariffs" than Trump, which called for a 60 percent work on Chinese goods and a 10-20 percent work on goods from another countries, notes CNN. Many economists object to general tariffs as costs will be passed on to consumers and rise prices.
The candidate besides wants to reduce public debt, but advocates extending any parts of Trump's government on taxation reductions, most of which are expected to expire at the end of 2025. “The estimates from various economical analyses of the cost of different taxation reductions scope from nearly $6 trillion to $10 trillion over 10 years”, says AP.
He lives in South Carolina with his husband, John Freeman, a erstwhile fresh York prosecutor. They have 2 children. Bessent is the nephew of late U.S. Congressman John Jenrette, a progressive South Carolina politician who was compromised in a mid-1980s scandal known as Abscam. It was a "two-year provocation operation in which politicians and another people were recorded taking bribes from national agents pretending to be rich Arabs looking for favors," explained The fresh York Times in his obituary Jenrette in 2023. Jenrette was convicted of conspiracy and violation of national law against bribery and served 13 months in prison.
Bessent would be the first gay associate approved by the legislature to be a cabinet associate in the Republican administration. Richard Grenell, a gay Republican and longtime Trump ally, served as manager of national intelligence in Trump's first administration after being an ambassador to Germany. The manager of national intelligence is not part of the cabinet, but is considered a individual at the cabinet level, so Grenell was the first individual to uncover his homosexual orientation that achieved it. Due to the temporary nature of the position, he did not request the approval of the Senate. Pete Buttigieg, a transport secretary in Biden's administration, was the first officially approved legislature cabinet official.
The choice of gay as Treasure Secretary by Trump does not mean that his fresh administration will not be a threat to LGBTQ+ people, especially transgender people. Another candidate announced by the president-elect on Friday more fits Trump's ideology. He elected Russell Vought as manager of the Management and Budget Office, a position he held in the last months of Trump's first administration after he was Deputy manager and Acting Director. Vought co-authors deep anti-LGBTQ+ task 2025, a plan of a conservative government that Trump claims he knows nothing about.
After the end of Trump's first term, Vought founded the Center for Renewing America, whose mission is to "renew the consensus of America as a nation under God," as he states on his website. "The organisation engages in the fight against the alleged "critical racial theory", LGBTQ rights, immigration and electoral rights", according to Monitoring Influence, a control group. Trump raised funds for the Center for Renewing America.
Vought's erstwhile experience includes work for Heritage Action for America, the lobbying arm of the Heritage Foundation. Heritage Foundation was the driving force of task 2025. He besides worked for Mike Pence erstwhile Pence was a congressman, and for another Republican, Phil Gramm, erstwhile Gramm was a U.S. Senator. And Vought even said that the Federalist Society, a conservative legal organization that influenced Trump's judicial election, is not conservative enough, notes The fresh York Times.
for:https://www.advocate.com/politics/scott-bessant-gay-trump-treasury
( selection and sub-direction. PZ)
