On Jan. 27, Scott Bessent was confirmed by the Senate to head the Treasury Department. He was approved with a bipartisan 68-29 vote. A hedge fund billionaire, Bessant is a strong advocate for the extension of President Donald Trump’s 2017 Tax Cuts and Jobs Act. “This is the single most important economic issue of the day,” Bessant told lawmakers on the Senate Finance Committee during his confirmation hearing. “If we do not renew an extension, then we will be facing an economic calamity and, as always, with financial instability, that falls on the middle and working class.”