Bessent and Turner appear for confirmation hearings, Bondi hearing resumes

In his closing remarks, Senate Finance Committee Chair Mike Crapo said he’ll encourage other lawmakers to advance Bessent’s nomination.

“We are up to date on all of our taxes,” Bessent said, adding he would shutter his firm if confirmed, to avoid potential conflicts of interest.

And he said he supports “making auto loans tax deductible once again.”

Democratic Sen. Elizabeth Warren asked whether Bessent thinks the statutory debt limit should be repealed. Both she and President-elect Trump have called for eliminating the debt limit.

Bessent said in response that if Trump wants to eliminate the debt limit, “I will work with him.”

“The U.S. is not going to default on its debt if I’m confirmed,” he said.

Instead, he’s promised to follow the law and not prejudge outcomes.

When asked by Republican Sen. Pete Ricketts, for example, whether he’d roll back programs that promoted electric vehicle use that Ricketts characterized as harmful, Zeldin stayed vague but acknowledged opposition to a program Trump has also criticized.

“I will tell you that I have heard concerns from you and many others, in this chamber, of how important it is to look at rules that are currently on the book,” he said.

The Biden administration pushed tougher standards for car and truck tailpipe emissions and experts expect the Trump administration to try and reverse these efforts. Trump has falsely characterized these as mandates for electric vehicles.

Asked by Republican Sen. Marsha Blackburn about his view on central bank digital currencies, known as CBDCs, and whether he’d continue the Biden administration’s project of looking into the viability of the U.S. implementing a CBDC, Bessent said: “I see no reason for the U.S. to have a central bank digital currency. In my mind a central bank digital currency is for countries that have no other alternatives; many of these countries are doing it out of necessity.”

It was when Bessent said that at 17 years old, he wanted to attend the U.S. Naval Academy but couldn’t because of his sexual preference.

“President Trump chose me, “Bessent said, for Treasury Secretary, “not because of my sexual preference,” but because of his qualifications. “I think it is a tribute to President Trump. He looks at people as people.”

If confirmed, Bessent would be the first openly gay treasury secretary.

The hearing focused on homelessness, affordability, the lack of housing supply and building and zoning regulations.

Turner was also pressed for specifics on how he would reform HUD’s massive portfolio of housing subsidies, with Democrats repeatedly asking if he supports Section 8 voucher programs. Turner didn’t commit to increasing the number of vouchers, which is a longstanding priority for Democrats.

Republicans focused on how Turner can support deregulation to spur development and increase the nation’s housing stock. The first Black person selected to be a member of Trump’s second term cabinet was also asked about Obama- and Biden-era initiatives to curb housing discrimination.

Democratic Sen. Maria Cantwell asked Burgum about prioritizing existing leases for oil and gas development on federal lands, as opposed to opening up more land to new leasing.

Burgum said “we always want to prioritize those areas that have the most resource opportunity for America with the least impact on lands that are important.”

“We can do a lot more without touching or even being visible to any of the people that are concerned about land use,” Burgum said.

Republican Sen. Mike Lee raised the controversial creation and expansion of national monuments under the Antiquities Act — such as Bears Ears and Grand Staircase-Escalante — an issue he said has become a political football over recent presidents changing those monuments’ boundaries.

Burgum said the original intent of the 1906 law was for “Indiana Jones-type archaeological protections” of objects within the smallest possible area.

Later he praised the uses of public lands, including outdoor recreation and oil and gas production benefiting local economies.

When asked whether he’d recommend cutting Medicaid, Bessent stammered slightly and said “I am in favor of empowering states. In some states that will be an increase and some states that will be a decrease.”

Asked whether he would recommend cuts to Head Start, Bessent declined to answer and said “I don’t understand the budget ramifications.”

Democratic Sen. Bernie Sanders, a new member of the Senate Finance Committee, asked Bessent about wealth inequality and started with a speech about the concentration of ownership of the media and the information Americans receive.

“Would you agree with President Biden that an oligarchy is taking shape in America?” Sanders asked.

“The billionaires you listed make the money themselves,” Bessent said. “I would note that President Biden gave a presidential medal of freedom to people who qualify” for Biden’s definition of an oligarch, Bessent added.

In response, Bessent: “Of course and I actually believe the notion that I said President Trump should have influence comes from a highly inaccurate WSJ article.”

Asked by Republican Sen. Todd Young about conducting an impartial review of the Nippon Steel deal, Bessent said: “President Trump has also most recently spoken out against the deal.”

“It is currently in litigation. If it reappears, CFIUS will conduct the same review it always does.”

Republican Sen. Bernie Moreno asked how the number of illegal immigrants have affected housing affordability. Turner called it “a great burden” on HUD as an agency, especially as a homelessness issue.

Meanwhile, Sen. Ruben Gallego, a Democrat, implored Turner to protect U.S. citizens in HUD housing even if undocumented people were in their household. Only people legally in the country can receive HUD subsidies, though Trump’s first administration had tried unsuccessfully to limit their eligibility if they live with people who may not have approved immigration status.

Turner responded that he would uphold the laws on the books. “We do not like to tear up families, but we have an obligation to serve the American people,” he said.

Independent Sen. Angus King asked Burgum if he would do so during his confirmation hearing Thursday. King noted that Burgum knows the benefits of wind power since he’s from North Dakota, which gets more than one-third of its electricity from onshore wind turbines.

Burgum replied that the electric grid needs more resources that provide power continuously, as opposed to “intermittent” sources such as solar and wind that fluctuate.

Trump vowed to end the offshore wind industry as soon as he returned to the White House. He tasked a New Jersey congressman and vocal critic of offshore wind with writing an executive order he could issue to halt wind energy projects. Republican Rep. Jeff Van Drew said he emailed that draft order to Burgum.

King also asked Burgum if he would commit to continuing with offshore wind leases that have been issued. Burgum said projects that make sense and are already in law will continue.

“The tragedy going on in Ukraine is one of the greatest tragedies of my adult life,” Bessent said.

He said the Biden administration’s sanctions weren’t strong enough.

“I believe the previous administration was worried about raising U.S. energy prices during an election season and I’m perplexed to see National Security Advisor Jake Sullivan on his way out the door raising the sanctions level on Russian oil companies.”

Republican Sen. Bill Cassidy, who’s co-sponsored a bipartisan bill related to preserving the solvency of Social Security, asked whether Bessent would touch Social Security or Medicare funding.

“Those would not be touched,” Bessent said. “One of the tragedies of the blowout of the budget deficit is we need to get our short term house in order.”

Asked how the EPA under Zeldin would work with businesses, workers and industry affected by environmental regulations, he said it would be a big mistake to not hear from everyone.

“The worst thing I could possibly do, that the EPA could do, is turn a blind eye to great, substantive feedback that will better inform our decisions,” he said.

The Treasury secretary serves as the chair of the CFIUS committee which screens foreign investments inside the U.S. as well as U.S. investments in China.

Bessent said China “has the most unbalanced economy in the history in the world,” and “we should have a very rigorous screening process for anything that could be used, in AI, quantum computing, and chips.”

President-elect Donald Trump’s nominee for interior secretary says the U.S. can leverage energy development to promote world peace and make life more affordable.

Former North Dakota Gov. Doug Burgum described Trump’s aspiration to achieve U.S. “energy dominance” as a way to counter demand for fossil fuels from autocratic nations such as Russia, Iran and Venezuela that have fewer environmental safeguards.

Burgum’s claims were challenged by Democratic Sen. Mazie Hirono of Hawaii, who said burning more fossil fuels would exacerbate climate change. She noted that military leaders have described global warming as a national security threat that could trigger instability and wars.

The Interior Department oversees vast public lands and offshore areas that account for about a quarter of U.S. annual oil production. The Biden administration sought to restrict oil and gas lease sales from public lands and waters, but Trump has vowed to increase drilling for oil and gas.

Sen. Chuck Grassley brought out a poster that argues “revenues are historically steady regardless of marginal tax rates.”

Bessent responded: “We do not have a revenue problem in the U.S. we have a spending problem.”

Wyden asked him if would preserve the program, adding that millions of taxpayers would be eligible for it.

“Will you commit to keeping Direct File up and running?” Wyden asked.

“I will commit for this tax season that Direct File will be operative,” Bessent responded. “If confirmed I will consult and study the program.”

“We must work to get our fiscal house in order,” Bessent said in his opening statement. “As we begin 2025, Americans are barreling towards an economic crisis towards year end.”

He called for an extension of the Tax Cuts and Jobs Act.

“For too long, our nation has allowed unfair distortions in the international trade system,” he said.

Turner, who also served in the first Trump administration, spoke before the Senate Banking, Housing, and Urban Affairs committee for his nomination as leader of the Department of Housing and Urban Development.

Sen. Tim Scott, the Republican chairman of the committee, in his opening remarks took a pause before mentioning the former name of the Washington football team where Turner once played. Turner noted he was drafted in the 7th round of the NFL, “which is the last round for those that don’t know,” a quip that got some chuckles in the room.

Democratic Sen. Sheldon Whitehouse asked Zeldin basic questions about climate change science, including what impact carbon dioxide emissions from burning fossil fuels have on the atmosphere.

“I don’t sit before you as a scientist,” Zeldin said, but after a follow-up question said carbon dioxide traps heat.

He said he was committed to achieving clean water and air, but didn’t provide specifics about what he would do to address climate change. President-elect Donald Trump has cast doubt on basic climate science and promised to enact an energy policy that expands oil and gas development.

“We need a Secretary of Treasury who knows what he’s doing, has the trust of the president and loves his country,” Graham said. “Your ship came in with this guy.”

“In a Trump economy, the winner’s circle is small,” Wyden, a ranking member of the committee said in his opening statement.

To bring in revenues, Wyden said the Trump administration “will be offering across the board tariffs,” he said “trillions of dollars in new taxes paid for by working Americans.”

Wyden brought up the IRS’s new Direct File system — where taxpayers can file their taxes directly to the IRS for free — and the threat it faces to be defunded.

“The software giants want Direct File killed. Republicans are on their side, so they might get their way. It could cost American taxpayers hundreds of millions of dollars this year alone,” he said.

Republican Senate Finance Committee Chair Mike Crapo opened Bessent’s confirmation hearing, telling him: “It’s clear you followed applicable law and provided thousands of pages of documentation that substantiate your positions.”

“President Trump made an excellent choice in nominating you for Secretary of Treasury,” Crapo told Bessent.

Bessent is joined by Republican Sen. Lindsey Graham.

Before the hearing began, Bessent walked around the room shaking hands with senators before being seated.

Lee Zeldin, a close and longtime ally of President-elect Donald Trump, has promised to dismantle “left wing” environmental regulations as the next leader of the EPA.

His confirmation hearing is getting started and he’ll likely face questions about Trump’s rejection of climate science and how the agency can adhere to its mission to protect human health and the environment if Zeldin’s focus is on economic growth and dismantling regulations.

Money manager Scott Bessent, an advocate for deficit reduction and deregulation, has been chosen to serve as Treasury secretary.

Bessent is a past supporter of Democrats who has become an enthusiastic supporter of Trump. He’s an advocate of cutting spending while extending the tax cuts approved by Congress in Trump’s first term.

Here are four things to know about the South Carolina billionaire who, if confirmed by the Senate, will manage the nation’s finances:

• He worked for George Soros and donated to Democratic causes
• He speaks regularly about deficit reduction while supporting extending Trump’s tax cuts
• He views tariffs as a sanctioning tool
• He would be the first openly gay treasury secretary

Pam Bondi, the former Florida attorney general, was chosen by Donald Trump to serve as U.S. attorney general hours after his first choice, Matt Gaetz, withdrew from consideration after a federal sex trafficking investigation and ethics probe made his ability to be confirmed dubious.

If confirmed by the Republican-led Senate, Bondi would instantly become one of the most closely watched members of Trump’s Cabinet given the Republican’s threat to pursue retribution against perceived adversaries and concern among Democrats that he will look to bend the Justice Department to his will.

Bondi returns for her second day before Senate committee. Here’s a few things to know about Bondi:

• She’s been a longtime fixture in Trump’s world
• She was Florida’s first female attorney general
• She spent years lobbying on behalf of companies like Amazon
• She defended Trump during his first impeachment trial
• She backed Trump’s efforts to challenge the 2020 election results

▶ Read more about Pam Bondi

Former New York Rep. Lee Zeldin has been tapped to lead the Environmental Protection Agency.

Here are a few things to know about Zeldin:

• In Congress, he voted against certifying the 2020 election results
• He mounted a failed bit for governor of New York in 2022
• During the run, he vowed to reverse a New York fracking ban
• He’s a Trump loyalist who appeared frequently on the campaign trail

▶ Read more about Lee Zeldin

Scott Turner is Trump’s choice to lead the Department of Housing and Urban Development.

Turner, 52, is the first Black person selected to be a member of the Republican’s Cabinet.

Here are some things to know about Turner:

• He’s played for the Washington Redskins, San Diego Chargers and Denver Broncos
• He’s a motivational speaker and pastor at Prestonwood Baptist Church
• He led the White House Opportunity and Revitalization Council during Trump’s first term

▶ Read more about Scott Turner

Former North Dakota governor Doug Burgum is being considered as the chief steward of U.S. public lands and waters.

President-elect Donald Trump tapped Burgum to be interior secretary and to lead the new National Energy Council, which is charged with promoting oil, gas and other energy development. Here are some things to know about the two-term Republican governor of a sparsely populated state:

• Burgum’s background is in business
• He beat a longtime GOP officeholder to become governor
• Burgum took a CEO’s approach to leading
• His own presidential bid was short-lived
• Burgum has navigated crises as governor

▶ Read more about Gov. Doug Burgum

10 a.m.: Doug Burgum, Interior Department
The former governor of North Dakota and businessman appears before members of the Senate Energy and Natural Resources Committee, who will consider his nomination as interior secretary, the chief steward of U.S. public lands. Burgum, who endorsed Trump after ending his own 2024 presidential bid and campaigned for Trump, has also been tapped to lead the National Energy Council. Trump has said the council will seek to establish U.S. “energy dominance” around the world.

10 a.m.: Scott Turner, Housing and Urban Development Department
The former NFL player who ran the White House Opportunity and Revitalization Council in Trump’s first term appears at a hearing before the Senate Banking, Housing and Urban Affairs Committee. Turner is a professional mentor, pastor and former Texas House member. HUD is charged with addressing the nation’s housing needs and fair housing laws, and oversees housing for the poorest Americans.

10 a.m.: Lee Zeldin, Environmental Protection Agency
The former New York congressman appears before the Senate Environment and Public Works Committee. The agency is tasked with matters pertaining to environmental protection, conducting assessments, research, education and maintaining and enforcing national standards.

10:15 a.m.: Pam Bondi, Day 2 before the Senate Judiciary Committee.

10:30 a.m.: Scott Bessent, Treasury Department
The billionaire money manager from South Carolina takes questions from members of the Senate Finance Committee. Bessent would be the first openly LGBTQ+ Senate-confirmed Cabinet member in a Republican administration. The treasury chief helps formulate financial, economic, and tax policy, and manage the public debt.