WASHINGTON, D.C. – Today, U.S. Senator John Barrasso (R-Wyo.) discussed making America energy dominant and preventing massive tax hikes with Scott Bessent, President-Elect Donald J. Trump’s nominee for Secretary of the Department of the Treasury.

Bessent’s confirmation hearing was held today in the Senate Committee on Finance.

On Bessent’s Strong Vision for America:

“Thanks so much for your willingness to serve. Thanks for being here. I enjoyed our discussion quite a bit and talking about the future for the country and the role of the Treasury Secretary in getting our economy back on track.

“This means lower prices, higher wages, more jobs and stronger economic growth for America. It also means protecting people in states like Wyoming from crushing regulations and devastating tax hikes. It means getting wasteful spending under control. And I’m greatly encouraged by our meeting that we had.

“You have, I believe, a strong vision for America – a strong vision for unleashing American energy, for getting tough on China, for getting tough on our adversaries, and to getting the federal government out of the way for so many of us.”

Click here to watch Sen. Barrasso’s remarks on Bessent’s vision for America.

On Making America Energy Dominant:

“I’m glad that we agree a key ingredient in reigniting the economy in this country is to unleash American energy in my home state of Wyoming.

“We’re an energy superpower as a nation, and we are America’s energy bread basket in Wyoming.

“Energy production is the heart of our Wyoming economy and the nation’s economy. It supports workers as well as schools, infrastructure, the money that comes from that, the tax revenue. Wyoming is the least populated state, but it is the third largest net energy supplier producing 12 times more energy than we consume. It’s at the forefront of oil, natural gas, coal production, carbon capture technology, hydrogen production, many alternative sources of energy.

“What’s happened is that energy producers in Wyoming and across the country faced a whole-of-government assault from the Biden administration on American energy production. Taxes, crippling regulations – they weaponized the tax code in ways that are just unthinkable to me against conventional American energy production. The things that Joe Biden signed into law just made things worse.

“But the good news is with you there, with President Trump in the White House, things are about to change. You’ve talked extensively about boosting American energy production.

“What role do you see yourself playing as Treasury Secretary in making sure we become American energy dominant and in terms of energy security as well?”

Follow-Up:

“We do it with the best stewards of the land, and I agree.

“And what we’ve also seen, as you mentioned with Iran increasing the sales, or selling it to China, China is buying it at discounts, so they’re getting cheap energy. Iran is getting tanker-loads of cash back, essentially, and they’re using that money for terrorism, in terms of our own national security.”

Click here to watch Sen. Barrasso’s remarks on America’s energy dominance.

On Preventing Tax Hikes for Small Businesses:

“One last question in my time remaining – this has to do with the Tax Cuts and Jobs Act that we passed in 2017.

“If that were to expire, we’re talking about a massive tax hike of over $4 trillion.

“What would that kind of a tax hike mean for small businesses, for job creators, as well as our global competitiveness? If all of a sudden, we put the heavy wet blanket of a $4 trillion tax increase on our nation?”

Click here to watch Sen. Barrasso’s remarks on preventing tax hikes.

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