Treasury Secretary Nominee Scott Bessant to Make Call to Action During Hearing: ‘Opportunity of a Generation’

Scott Besant, President-elect Trump’s Treasury Secretary, plans to speak about Trump’s economic vision for the country at his Senate confirmation hearing on Thursday.

In a transcript of his comments obtained by FOX Business, Besant begins by discussing his roots in the South Carolina low country.

“My father was in deep financial trouble when I was young,” he wrote. “I started working two summer jobs when I was 9 years old and I haven’t stopped working since then.”

“The story of ‘America’ that I am determined to preserve for future generations is the only one in my life. Today, I believe President Trump has a generational opportunity to usher in a new economic golden age that will create more jobs, wealth and prosperity for all Americans.”

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Later in the statement, Bessant called for specific action to “secure supply chains that are vulnerable to strategic competitors” to protect America’s national security and economic interests.

“Crucially, we must ensure that the US dollar remains the world’s reserve currency,” Besant’s statement continued. “Productive investment that grows the economy should be prioritized over wasteful spending that drives inflation.”

Besant, founder and CEO of global macro investment firm Square Group and a former managing partner of the Soros Fund, has been a vocal supporter of Trump’s vote in the 2024 election season, and warned that if Congress does not act accordingly, “Americans will suffer the brunt of it.” A tax hike in history, a $4 trillion tax hike.

Trump has told the EU to buy more US-made oil and gas or face ‘tariffs’.

“We must make permanent the Tax Cuts and Jobs Act of 2017 and implement new growth policies to reduce the tax burden on America’s manufacturers, service workers and seniors,” Besant is expected to tell the Senate Finance Committee. “President Trump was the first president in our time to recognize the need to change our trade policies and to stand up for American workers.”

Scott Bessant speaks at the National Conservative Conference on July 10, 2024 in Washington, DC. (Dominic Gwynn/Middle East Images/AFP via Getty Images/Getty Images)

Besant, who previously taught at Yale University, has supported Trump’s plan to impose high tariffs on imported goods, and has not singled out China in his speech, but said that China’s trade practices have hurt American industry in the past.

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“Members of the committee, these are just a few of the many important goals President Trump has set for me and others on his economic team,” Bessant’s testimony concluded. “If confirmed, and with your advice and support, I firmly believe we can usher in a new, balanced era of prosperity that lifts up all Americans and builds communities and families across the country.”

The Senate Finance Committee is responsible for holding a confirmation hearing on Besant’s nomination and bringing it up to the floor for a confirmation vote.

Fox News Digital’s Eric Revell, Sarah Rumpf-Whitton and Louis Casiano and Reuters contributed to this report.