Scott Bessent, President-elect Trump's nominee for Treasury Secretary, pledged during his confirmation hearing to address tax evasion regardless of the taxpayer's wealth. Bessent faced questions from Sen. Ron Wyden about his plans to increase audits of wealthy individuals, who have historically been harder to audit due to a lack of resources at the IRS. Bessent committed to developing a plan to enhance tax collection efforts, acknowledging the need for resources despite technological advancements like artificial intelligence.
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.
" TREASURY SECRETARY NOMINEE SCOTT BESSENT TO MAKE CALL TO ACTION DURING HEARING: 'GENERATIONAL OPPORTUNITY' "And I would acknowledge your point that certainly it's going to be a challenge in the years ahead with respect to AI and other technologies, but we're still going to need resources," Wyden added. "If confirmed, I will come back to you with a plan for upping collections," Bessent replied.
TAXATION IRS TREASURY SECRETARY AUDIT AI
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