Trump’s Treasury pick Bessent wont discriminate on tax cheats, vows fairness [Video]

President-elect Trump’s treasury secretary nominee told senators during his confirmation hearing on Thursday that he will look to crack down on tax cheats, whether they’re wealthy or not.

Scott Bessent, the CEO of Key Square Group who Trump nominated to serve as treasury secretary, testified before the Senate Finance Committee and was pressed on whether he would work to step up audits of wealthy taxpayers. If confirmed, Bessent would lead the Treasury Department, of which the Internal Revenue Service (IRS) is a subagency.

Sen. Ron Wyden, D-Ore., Senate Finance Committee ranking member, noted that while technological developments like artificial intelligence (AI) may help with tax oversight, the agency will need resources that he says have been lacking in the past and as a result hampered prior efforts to step up audits of wealthy taxpayers.

“What you’ve seen because we don’t have the resources to go after the wealthy tax cheats, people who use the Earned Income …