Treasury Secretary designee Scott Bessent’s nomination advanced past a key Senate committee Tuesday, teeing up his likely confirmation with a full floor vote in the coming days.

Scott Bessent testified before the Senate Finance Committee, where the expiring Tax Cuts and Jobs Act was a major point of conversation.

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.

Scott Bessent, Donald Trump's nominee for Treasury Secretary, said during a confirmation hearing Thursday that he is "perplexed" that the Biden administration did not impose more sanctions and tariffs on Russia's economy.

Senate Finance Committee Chairman Mike Crapo on Wednesday said he is hoping a full Senate confirmation vote for U.S. President Donald Trump's pick as Treasury secretary, Scott Bessent, could occur next week.