Senate Finance eyes Jan. 16 hearing for Bessent

The Senate Finance Committee is expected to hold a confirmation hearing with President-elect Donald Trump’s nominee for Treasury Secretary, Scott Bessent, on Jan. 16, according to three people familiar with the committee’s plans, granted anonymity to share the details.

After the committee hearing, Bessent’s nomination would be teed up for an executive session where lawmakers could report him out for confirmation by the full Senate.

Republican and Democratic committee staff were meeting with Bessent on Thursday to discuss his nomination and go over outstanding questions about his financial paperwork, according to a committee aide.

“Senator Crapo is committed to moving Bessent’s nomination as quickly as possible,” said Mandi Critchfield, a spokesperson for Finance Chair Mike Crapo (R-Idaho), when asked for comment.

Bessent has so far sailed through his meetings with senators on Capitol Hill. He’s been widely praised by Republicans and some moderate Democrats have left open the door to supporting him.

Having a confirmed Treasury secretary in place will be critical as the incoming Trump administration navigates the debt limit. Treasury Secretary Janet Yellen said last week the federal government would hit the limit as early as Jan. 14 and may have to start implementing “extraordinary measures” to avoid default.