Scott Bessent, nominated by President-elect Trump for Treasury Secretary, emphasized the need to extend the 2017 Tax Cuts and Jobs Act during his Senate hearing. Facing questions from both parties on tax policy and sanctions, Bessent defended Trump's economic proposals and pledged to maintain the IRS's Direct File program. He called for stronger sanctions on Russia and indicated a desire to eliminate the debt ceiling, while Democratic senators raised concerns about the potential impact of tax cuts on national debt.