While Scott Bessent started out as a relatively lesser-known economic advisor, 200 days in he has become a pivotal figure as the U.S. Treasury Secretary.
Bessent’s background as a global hedge fund manager and his extensive financial expertise have propelled him upward in the Donald J. Trump administration’s result-oriented approach.
He has been a staunch defender of Trump’s economic policies, such as tariffs and tax cuts, and has also demonstrated his ability to navigate high-stakes political and economic challenges.
While Bessent did have past affiliations with Democratic causes, he made substantial financial contributions to Trump’s 2024 campaign and hosted fundraisers.
He has established his loyalty to Trump and his America first policies, and elevated his status as a central figure in the administration’s economic strategy.
So, it’s not surprising to see the president trusting him to tackle yet another challenge as new acting IRS Commissioner.
BREAKING: President Trump has just appointed Treasury Secretary Scott Bessent as Acting IRS Commissioner
— Nick Sortor (@nicksortor) August 8, 2025
Bloomberg reported:
“President Donald Trump plans to remove Internal Revenue Service Commissioner Billy Long from the job to nominate him for an ambassadorship, according to a White House official, throwing the leadership of the tax agency once again into turmoil.
Treasury Secretary Scott Bessent will serve as acting commissioner until a permanent replacement is named, according to the official, who described the changes on the condition of anonymity.
Long’s departure will be the latest turnover atop the IRS, which has had six different people lead the agency this year. In April, Bessent openly sparred with Elon Musk after the billionaire Trump ally installed Gary Shapley to lead the agency without Bessent’s knowledge.”
From March:
IRS modernization is 30 years behind schedule, $15 billion over budget, and is relying on outdated technology.
We are working hard to make it more efficient. pic.twitter.com/DVszLIIrAU
— Treasury Secretary Scott Bessent (@SecScottBessent) March 21, 2025
From June:
Critics of @POTUS’ efforts to modernize the IRS warned that the effort would result in a 10% shortfall in receipts.
Instead, the opposite happened.
April receipts this year were up 9.5% over the previous year. And receipts in May were up 14.7% over the previous year.
Most… pic.twitter.com/08OUqRDolj
— Treasury Secretary Scott Bessent (@SecScottBessent) June 11, 2025
Read more:
Treasury Secretary Scott Bessent Demands Sweeping Review of Entire Federal Reserve
