Treasury Pick Rejects Minimum Wage Hike: $7.25 Remains a National Debate
During his Senate confirmation hearing, Scott Bessent, President-elect Trump’s treasury secretary nominee, opposed raising the federal minimum wage, deeming it a state and regional matter. This stance contrasts sharply with calls for a living wage and drew criticism for prioritizing tax cuts for the wealthy over wage increases for low-income workers. Bessent’s economic plan, focusing on deficit reduction and GDP growth, reportedly necessitates cuts to anti-poverty programs and potential tax hikes for the middle class to achieve its goals. Critics argue his nomination prioritizes the ultra-wealthy, potentially harming middle-class families.
John Q. Hosedrinker