The third day of President-elect Donald Trump’s Cabinet nominee hearings brought key discussions on domestic and economic policies, as nominees Scott Bessent (Treasury), Doug Burgum (Interior), and Lee Zeldin (EPA) faced Senate panels. These hearings showed Trump’s priorities, including extending the 2017 tax cuts, addressing environmental regulations, and advancing an “energy dominance” agenda.
Treasury Nominee Pushes for Tax Cut Extensions
Scott Bessent advocated for President Trump’s 2017 Tax Cuts and Jobs Act and warned of severe middle-class tax hikes if the cuts expire. He also underscored the importance of sustaining doubled child tax credits and expanded income deductions. Though Bessent bemoaned the federal deficit, he highlighted excessive government spending, not revenue, as the problem.
Senate Tensions on Tariff Debate
Democratic Senator Ron Wyden asked Bessent if Trump’s proposed tariffs would burden workers and small businesses. Bessent disagreed, pointing to historical data to argue that tariffs would not increase consumer costs much. Economists are not convinced, and projections indicate that household purchasing power will take a hit under Trump’s tariff plans.
Energy and Environment Take Center Stage
Interior nominee Doug Burgum emphasized the energy policies that Trump has planned, praising the administration for working towards energy independence. EPA nominee Lee Zeldin admitted that climate change does exist but dodged the tough regulatory measures related to emissions.
Federal Reserve Autonomy Guaranteed
Bessent assured the congressmen that there would be no compromise on the Federal Reserve’s independence under Trump’s administration. “Monetary policies will be free from presidential interference, and the process will continue uninterrupted,” he told the lawmakers.
While the hearings showed no significant hurdles to Senate confirmation for the nominees, they underscored the impending debates in Congress. Pressing issues like tax reforms, tariffs, environmental policies, and federal spending are central to Trump’s second-term agenda. With narrow majorities in the House and Senate, Republicans face a challenging path ahead to implement these priorities.
