Scott Bessent on Minimum Wage

Scott Bessent, during his Senate confirmation hearing for Treasury Secretary, explicitly stated his opposition to increasing the federal minimum wage. When questioned by a Senator, he confirmed that he did not believe the federal minimum wage of $7.25 an hour should be changed, asserting that this issue is "more of a statewide and regional issue." This stance was highlighted by critics who contrasted his position with support for tax cuts benefiting the wealthy, suggesting a priority on billionaire handouts over wage increases for the poorest Americans.

This opposition places his view in contrast with the long period—since 2009—that the federal minimum wage has remained unchanged at its current level. Critics argued that his confirmation and associated policies demonstrated a focus on lining the pockets of the ultra-wealthy, rather than addressing the need for higher wages and lower costs for working families. His stated economic plan, which included deficit reduction and GDP growth targets, was cited by one institute as likely requiring cuts to anti-poverty programs to be realized.