Treasury Secretary nominee Scott Bessent to make a call to action during the hearing: “Generational opportunity”

Scott Bessant, President-elect Trump choose the secretary of the Treasury Department, plans to talk about Trump’s economic vision for the nation during his Senate confirmation hearing on Thursday.

In a copy of his written remarks obtained by FOX Business, Bessent begins by discussing its roots in the South Carolina Lowcountry.

“My father fell into extreme financial difficulties when he was young,” he wrote. “When I was 9, I started working two summer jobs and haven’t stopped working since.”

Scott Bessent, founder and CEO of Key Square Group LP, in an interview during the Republican National Convention in Milwaukee, July 16, 2024. (Vincent Alban/Bloomberg via Getty Images/Getty Images)

“My life has been the story” only in America “that I am determined to preserve for future generations. Today, I believe that President Trump has a generational opportunity to unleash a new economic golden age that will create more jobs, wealth and prosperity for all Americans.”

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Later in his statement, Bessent makes a specific call for action to “secure supply chains that are vulnerable to strategic competitors,” and calls for “carefully explaining sanctions” to protect national security and American economic interests.

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

Bessentthe founder and CEO of global macro investment firm Key Square Group and a former partner at Soros Fund Management, was a vocal supporter of Trump during the 2024 election season, and warned that if Congress does not act accordingly, “The “Americans face the biggest tax increase in history, a $4 trillion tax hike.”

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“We have to make it permanent in 2017 Tax cuts and Jobs Act and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers and seniors,” Bessent is expected to tell the Senate Finance Committee. “President Trump he was the first president in modern times to recognize the need to change our trade policy and defend American workers.”

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

Bessent, who previously taught at Yale University, supported Trump’s plans to impose significantly higher tariffs on imports and did not exclude China in his remarks, but previously said that trade practices of China have undermined American industry.

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“Members of the Committee, these are just a few of the many important goals that President Trump has set for me and others on his economic team,” Bessent’s testimony concluded. “I strongly believe that if confirmed, and with your advice and support, we can usher in a new, more balanced era of prosperity that will lift up all Americans and rebuild communities and families across the country.”

The Senate Finance Committee is responsible for holding a confirmation hearing The appointment of Bessent and moving to the floor for a confirmation vote.

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