Today, Scott Bessent confirmed that Donald Trump’s billionaire Cabinet is dead set on an agenda of tax handouts for the ultra-wealthy, higher costs and lower wages for American workers, and cuts to health care access that could be devastating for millions of Americans. Just like the rest of the billionaire flunkies Trump is packing into his Cabinet, Bessent would be a disaster for working families and would rig the economy for the ultra-wealthy on the backs of the middle class.

Bessent confirmed that giving the ultra-wealthy ANOTHER tax handout is “the single most important economic issue,” and refused to commit to making the rich pay their fair share.

Scott Bessent: “This is the single most important economic issue of the day. This is pass/fail. If we do not fix these tax cuts, if we do not renew and extend, then we will be facing an economic calamity.”

…

Sen. Ron Wyden: “Do you believe the tax code should treat wages differently than it treats wealth?”

Bessent: *struggles to answer coherently* … “It is a decision that was made when the tax codes were written so …” 

Wyden: “It sounds to me like you do believe that it’s fine to treat wealth more favorably. I couldn’t disagree more. The idea that a dollar earned by a hedge fund manager has more value than a dollar earned by a teacher or a factory worker, I just think it’s a disconnect with the American people.”

Sen. Raphael Warnock: “What about [those making more than] $1 billion?”

Bessent: “So again, that I think that these are the job creators.”

Sen. Warnock: “So there’s no income level for which you would support raising taxes? Is that fair?”

Bessent: “There is no income level …”

Bessent won’t commit to advising Trump against his reckless policies that would raise costs, admitting he won’t fight to lower prices for the American people. 

Sen. Maggie Hassan: “If the president-elect were to propose a policy that you believe will increase prices, would you advise against it?”

Bessent: “I would … speak to President Trump about it. It is his decision. …” 

Sen. Hassan: “If you believe that a policy that is proposed by President Trump would increase prices, would you advise him against doing it? Yes or no?” 

Bessent: “I can’t answer that question because it’s a hypothetical.” 

Bessent confirmed he does not support raising the federal minimum wage – which has not been raised since 2009. 

Sen. Bernie Sanders: “Will you work with those of us who want to raise the federal minimum wage to a living wage to take millions of Americans out of poverty?”

Scott Bessent: “I believe that the minimum wage is more of a statewide and regional issue.”

Sen: Sanders: “So you don’t think we should change the federal minimum wage of $7.25 an hour?”

Scott Bessent: “No, sir.”

Bessent won’t stand in the way of Trump gutting Medicaid.

Sen Ben Ray Luján: “Yes or no, will you recommend cutting Medicaid?”

Bessent: “Uh… I… It’s the business of Congress to do the budget and I am in favor of empowering states and I believe that for some states that will be an increase, for some states that will be a decrease.”

Sen. Luján: “Will you recommend cutting Medicaid to President Trump?”

Bessent “Uh, I will get back to you on this.”

Bessent refused to commit to protecting the Affordable Care Act tax credits, threatening to raise health care costs on hardworking Americans.

Sen. Peter Welch: “With the tax credits that are set to expire, that family would have a $700 a month increase in their health care bill. That’s going to hammer them, that’s like $9,000. So my question to you is in putting together this tax proposal where you are going to have to be making recommendations about how to pay for it, will we continue to provide this help to Vermonters like this electrician in Brattleboro so that he doesn’t get hammered on health care premiums going well beyond what he can afford?”

Bessent: “Senator, as we discussed in your office, and I haven’t had time to do my homework on this.”