The Treasury Secretary is a high-level Cabinet position charged with advising the president on matters related to financial, economic and tax policy.

Not surprisingly, U.S. Sen. Tim Scott, R-S.C., a member of the Senate Finance Committee as well as the Senate Banking Committee, commended his fellow South Carolinian, in a news release, saying Bessent will “usher in a tax code that enhances growth, investment and economic opportunity for all Americans.”