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Bessent Defends Tariffs, Makes Case for Extending Trump Tax Cuts

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Bessent Defends Tariffs, Makes Case for Extending Trump Tax Cuts
President-elect Donald Trump's nominee for Treasury Secretary, Scott Bessent, testifies before the Senate Committee on Finance on Capitol Hill in Washington on Jan. 16, 2025. Madalina Vasiliu/The Epoch Times
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Bessent: 'No Reason' for Central Bank Digital Currency in US
Bessent Says He Will Push China to Honor Previous Trade Commitments
Bessent: Trump Tariffs Will be Used for Negotiations, Remedy Unfair Trade
Bessent Supports Federal Reserve Independence
Bessent Would Support Tougher Sanctions on Russia
Bessent: 'No Reason' for Central Bank Digital Currency in US
Andrew Moran
Bessent Says He Will Push China to Honor Previous Trade Commitments
Austin Alonzo
Bessent: Trump Tariffs Will be Used for Negotiations, Remedy Unfair Trade
Andrew Moran
Bessent Supports Federal Reserve Independence
Andrew Moran
Bessent Would Support Tougher Sanctions on Russia
Andrew Moran
Burgum Vows to Ramp Up Support for Future Disaster Responses
Samantha Flom
Burgum: ’I Support Economics,’ Not EV Tax Credits
Stacy Robinson
Bessent Says China’s Top Priority Is Growing Its Military
Austin Alonzo
Illegal Immigration a ‘Huge Burden’ on Housing Crisis, Turner Says
Jacob Burg

Scott Turner cited a Department of Housing and Urban Development (HUD) report of record homelessness last year, and tied that increase to an influx in illegal immigration.

President-elect Donald Trump's nominee for Secretary of the U.S. Department of Housing and Urban Development, Eric Turner, testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Jan. 16, 2025. (Madalina Vasiliu/The Epoch Times)
President-elect Donald Trump's nominee for Secretary of the U.S. Department of Housing and Urban Development, Eric Turner, testifies before the Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington on Jan. 16, 2025. Madalina Vasiliu/The Epoch Times

“When you have 12 to 20 million people coming across illegally to our country, it is going to be a great burden on economy, on housing, on homelessness, on health in our country,” Turner told senators on the Senate Banking, Housing, and Urban Affairs Committee on Thursday.

Turner Says HUD’s Top Priority Will Be Easing ‘Regulatory Burden’ in Housing Market
Jacob Burg
President-elect Donald Trump's nominee for Secretary of the Interior, Doug Burgum, testifies before the Committee on Energy and Natural Resources on Capitol Hill in Washington on Jan. 16, 2025. (Madalina Vasiliu/The Epoch Times)
President-elect Donald Trump's nominee for Secretary of the Interior, Doug Burgum, testifies before the Committee on Energy and Natural Resources on Capitol Hill in Washington on Jan. 16, 2025. Madalina Vasiliu/The Epoch Times
Burgum Pushes Back on Claims Fossil Fuels Threaten National Defense
Samantha Flom
Bessent Defends Trump Tariff Plans
Andrew Moran
Not Extending Trump Tax Cuts Will Cause 'Economic Calamity,' Says Bessent
Andrew Moran
DeSantis Chooses Florida AG Ashley Moody to Replace Rubio in Senate
T.J. Muscaro
DeSantis Chooses Florida AG Ashley Moody to Replace Rubio in Senate
Florida Attorney General Ashley Moody speaks at a press conference, in a file photograph. Joe Raedle/Getty Images

Florida Gov. Ron DeSantis on Jan. 16 announced that Ashley Moody, Florida’s attorney general, will replace Sen. Marco Rubio in the U.S. Senate, praising her as someone who will deliver results in step with the incoming administration’s America-first agenda.

“Florida deserves a senator who stands unapologetically for conservative principles, supports law enforcement, has a strong record of combatting illegal immigration, and is ready to deliver on President Trump’s agenda. Attorney General Ashley Moody’s exemplary track record shows her commitment to these principles,” DeSantis said.

Rubio is expected to resign from his seat upon receiving Senate approval to become the next U.S. Secretary of State, and DeSantis said Moody will quickly fill the vacant seat.

Turner Says HUD Needs to Maximize Its Budget, Not Increase Funding
Jacob Burg
Zeldin: Carbon Dioxide Not a Pollutant

In response to a question from Sen. Sheldon Whitehouse (D-R.I.), Environmental Protection Agency (EPA) nominee former Rep. Lee Zeldin (R-N.Y.) said carbon dioxide is not a pollutant.

Former US Representative Lee Zeldin testifies before a Senate Environment and Public Works Committee hearing on his nomination to be Administrator of the Environmental Protection Agency, on Capitol Hill in on Jan. 16, 2025. (Ting Shen/AFP via Getty Images)
Former US Representative Lee Zeldin testifies before a Senate Environment and Public Works Committee hearing on his nomination to be Administrator of the Environmental Protection Agency, on Capitol Hill in on Jan. 16, 2025. Ting Shen/AFP via Getty Images

“I would say no,” Zeldin said. “As far as carbon dioxide that is emitted in larger masses that we hear concern about from scientists as well as from Congress, that's something that certainly needs to be focused on for the EPA.”

Zeldin Calls for Protecting Environment While Also Protecting Economy
Jackson Richman
Turner: America’s Record-Breaking Homelessness Is ‘National Embarrassment’
Jacob Burg
What to Know About Lee Zeldin, EPA Nominee
Jackson Richman
What to Know About Doug Burgum, Interior Nominee
Samantha Flom
Bessent to Focus on Security, Spending, Dollar Dominance in Opening Remarks
T.J. Muscaro
Bessent, Burgum, Zeldin, Turner to Face Confirmation Hearings: Here’s What to Know
Andrew Moran
Nathan Worcester
Bessent, Burgum, Zeldin, Turner to Face Confirmation Hearings: Here’s What to Know
Scott Bessent, President-elect Donald Trump's nominee for treasury secretary, arrives for a meeting with Sen. Mike Crapo (R-Idaho) in the Dirksen Senate Office Building in Washington on Dec. 10, 2024. Kevin Dietsch/Getty Images

The U.S. Senate will continue its slate of high-stakes hearings to consider President-elect Donald Trump’s Cabinet nominations days before his inauguration.

Billionaire financier Scott Bessent, whom Trump tapped to head the Treasury Department, will headline the Jan. 16 schedule and appear before the Senate Finance Committee.

Former North Dakota Gov. Doug Burgum, whose confirmation hearing for secretary of the Department of Interior was delayed over paperwork issues, will sit in front of the Senate Committee on Energy and Natural Resources.

Scott Bessent and the ‘Three Arrows’ Growth Strategy: What You Need to Know
Andrew Moran
Scott Bessent and the ‘Three Arrows’ Growth Strategy: What You Need to Know
Investor Scott Bessent speaks on the economy in Asheville, N.C., on Aug. 14, 2024. Matt Kelley/AP Photo

It could be said that President-elect Donald Trump’s Treasury Secretary nominee Scott Bessent’s plan for the world’s largest economy was inspired by the late Japanese Prime Minister Shinzo Abe.

A decade ago, the Japanese prime minister sought to overhaul the economy using a strategy called the “Three Arrows.” The three-pronged approach consisted of increasing government spending, easing monetary policy, and adjusting the economic landscape to bolster growth prospects.

“I became convinced that Abe and his circle of advisers would commit to directing all of the resources of the prime minister’s office to this multipronged and daunting task,” Bessent wrote in a 2022 essay for The International Economy, titled “Abe’s Complicated Legacy.”
4 Takeaways From Ratcliffe’s CIA Confirmation Hearing
Andrew Thornebrooke
4 Takeaways From Ratcliffe’s CIA Confirmation Hearing
Former Director of National Intelligence John Ratcliffe testifies before a Senate Intelligence Committee on his nomination to be CIA director, on Capitol Hill on Jan. 15, 2025. Jemal Countess/AFP via Getty Images

John Ratcliffe, President-elect Donald Trump’s pick for CIA director, told senators Wednesday that he would prioritize meritocracy in the agency, bring the cyber fight to China, and maintain robust intelligence gathering capabilities that have at times been weaponized against Americans.

Ratcliffe, who served as Director of National Intelligence (DNI) during the first Trump administration and previously served as a U.S. House representative for Texas, delivered the remarks to the Senate Select Committee on Intelligence during a Jan. 15 hearing to vet his nomination to lead the CIA.

From eliminating what he viewed as needless social justice programs to implementing a strategy for developing offensive cyber weapons, here are four of the key takeaways from Ratcliffe’s testimony:

Putting Merit First

Ratcliffe said he would employ “the ultimate meritocracy” throughout the agency and would seek to remove what he considered a “politically motivated, bureaucratically imposed social justice agenda” that distracts from the agency’s core mission.
6 Takeaways From Rubio’s Confirmation Hearing for Secretary of State
Eva Fu
Ryan Morgan
6 Takeaways From Rubio’s Confirmation Hearing for Secretary of State
Marco Rubio, President-elect Donald Trump's nominee for secretary of state, testifies before the Foreign Relations Committee at the U.S. Capitol on Jan. 15, 2025. Madalina Vasiliu/The Epoch Times

The atmosphere was congenial as Sen. Marco Rubio (R-Fla.) faced the Senate Committee on Foreign Relations in a confirmation hearing on Jan. 15.

Rubio, President-elect Donald Trump’s nominee for secretary of state, testified before a committee he has served on for 14 years. He addressed foreign policy questions from friendly colleagues on both sides of the political aisle to move forward with his confirmation process, with the chair and the ranking member of the committee concurring that he is qualified for the job.

As the son of Cuban immigrants who fled communism and built a stable life in the United States, Rubio was critical of the challenges presented by communist regimes such as China. He promised a robust foreign policy agenda that prioritizes U.S. interests and restores the global order that Beijing and other adversarial nations have weaponized to their advantage.

Trump’s Energy Chief Nominee Says He Supports ‘All-of-the-Above’ Approach to Energy
John Haughey
Trump’s Energy Chief Nominee Says He Supports ‘All-of-the-Above’ Approach to Energy
President-elect Donald Trump's nominee for Secretary of Energy, Chris Wright, testifies before the Senate Committee on Energy and Natural Resources on Capitol Hill on Jan. 15, 2025. Madalina Vasiliu/The Epoch Times

Energy Secretary nominee Chris Wright told key senators that, if confirmed, he would embrace an “all-of-the-above” approach to energy development, sustain funding for research programs, slash permitting timelines, encourage natural gas exports, and accelerate electric grid expansion.

During his nearly three-hour Jan. 15 nomination hearing before the Senate Energy and Natural Resources Committee, President-elect Donald Trump’s selection to lead the Department of Energy (DOE) said that upon assuming office, he would “immediately” freeze more than $25 billion in loans being processed by the DOE’s Loan Program Office (LPO) in the wake of recent inspector general (IG) disclosures.

Wright, the MIT-educated CEO of Colorado-based Liberty Energy, among the nation’s largest fracking contractors, was less resolute when asked how he would respond as DOE chief to anticipated efforts by the Trump administration to “claw back” funding in the annual budgets and spending programs authorized over multiple years by Congress.

6 Takeaways From Pam Bondi’s Confirmation Hearing for Attorney General
Sam Dorman
6 Takeaways From Pam Bondi’s Confirmation Hearing for Attorney General
Pam Bondi, President-elect Donald Trump's nominee for U.S. attorney general, is sworn in ahead of testifying before the Senate Judiciary Committee in Washington on Jan. 15, 2025. Madalina Vasiliu/The Epoch Times

Former Florida Attorney General Pam Bondi fielded questions from the Senate Judiciary Committee on Jan. 15 as part of her confirmation process to serve as the next attorney general of the United States.

During the hearing, both sides of the aisle focused on concerns about the weaponization of the Department of Justice (DOJ), which Bondi pledged not to engage in.

Democrats tended to focus on Bondi’s ties with President-elect Donald Trump and her willingness to maintain the DOJ’s independence from the White House. She also encountered questions about illegal immigration, national security, and FISA warrants.

Safety Will Remain Top Priority With Aviation, Says Transportation Secretary Nominee
Jacob Burg
Safety Will Remain Top Priority With Aviation, Says Transportation Secretary Nominee
President-elect Donald Trump's nominee for Transportation secretary, Sean Duffy, testifies before the Senate Committee on Commerce, Science, and Transportation on Capitol Hill on Jan. 15, 2025. Madalina Vasiliu/The Epoch Times

Former Rep. Sean Duffy (R-Wis.) has vowed to prioritize safety at the Department of Transportation, saying it would remain the top priority with aviation if he is confirmed by the Senate to lead the agency.

Duffy opened with those promises during his confirmation hearing before the Senate Committee on Commerce, Science, and Transportation on Jan. 15. Throughout questioning from senators of both parties, Duffy said he endorses the Federal Aviation Administration (FAA) continuing its oversight of Boeing, supports continued infrastructure funding, and wants full transparency on the mystery drones reported over multiple U.S. states for the past several months.

The hearing, led by Sens. Ted Cruz (R-Texas) and Maria Cantwell (D-Wash.), was cordial. Both Republican and Democratic senators expressed their fondness for Duffy and his vision of prioritizing safety with the Transportation Department.