01/23/2025

Senate Set to Vote on Scott Bessent’s Nomination for Treasury

The Senate Finance Committee voted to advance his nomination

The Senate Finance Committee voted 16-11 to advance Scott Bessent’s nomination for Treasury secretary, clearing the way for a Senate floor vote in the coming days.

Two Democrats – Sens. Mark Warner (D-VA) and Maggie Hassan (D-NH) – joined with committee Republicans to support Bessent. Senate Republicans are working to confirm President-elect Trump’s Treasury team more quickly than in Trump’s first term due to the administration’s focus on advancing tax legislation and because of the impending debt limit deadline.

IRS Commissioner Danny Werfel, meanwhile, resigned this week to make way for Trump's pick to replace him, former Missouri congressman Billy Long. Werfel, whose term was not due to expire until 2027, said this week that he “had to do what I felt was best for the agency, and I didn’t want to be a distraction for the employees and the IRS mission.”

Deputy IRS Commissioner Doug O’Donnell will lead the agency until Long is confirmed by the Senate.

This article was provided to OSAP by ASAE's Power of Associations and Inroads.