Scott Bessent, President-elect Donald Trump‘s nominee for treasury secretary, defended the Trump tax cuts during his confirmation hearing and said it is crucial for middle-class families that the cuts are extended.

President-elect Donald Trump’s pick to run the Treasury Department does not expect the incoming president’s proposed tariffs to drive up inflation and says he is looking forward to helping extend the Trump tax cuts.

(Reuters) - Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said that extending Trump's 2017 tax cuts that are set to expire at the end of this year is "the single most important economic issue of the day."