Scott Bessant, President-elect Trump pick for Treasury Department secretary, is scheduled to discuss Trump’s economic vision for the nation during his Senate confirmation hearing on Thursday.

In a copy of his written remarks obtained by FOX Business, Bessent begins by discussing its roots in the South Carolina low country

“My father fell into extreme financial difficulties when he was young,” he wrote. “When I was 9 years old I started doing two summer jobs and since then I haven’t stopped working”.

Scott Bessent, founder and CEO of Key Square Group LP, in an interview during the Republican National Convention in Milwaukee on July 16, 2024. (Vincent Alban/Bloomberg via Getty Images/Getty Images)

“My life has been the ‘only story in America’ that I am determined to preserve for future generations. Today I believe President Trump has a generational opportunity to unleash a new economic golden age that will create more jobs , wealth and prosperity for all Americans.”

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Later in his statement, Bessent makes a specific call to action on “securing supply chains that are vulnerable to strategic competitors” and calls for “carefully deploying sanctions” to protect national security and economic interests americans

“And critically, we must ensure that the US dollar remains the world’s reserve currency,” Bessent’s statement continued. “Productive investment that grows the economy must be prioritized over wasteful spending that drives inflation.”

Bessentthe founder and CEO of global macro investment firm Key Square Group and a former partner at Soros Fund Management, was a vocal supporter of Trump during the 2024 election season and warned that if Congress does not act, “americans to face biggest tax. increase in history, a staggering $4 trillion tax hike”.

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“We have to make 2017 permanent Tax reductions and Jobs Act and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers and seniors,” Bessent is expected to tell the Senate Finance Committee. “The President Trump was the first president in modern times to recognize the need to change our trade policy and stand up for American workers.”

Scott Bessent speaks at the National Conservative Conference in Washington DC on July 10, 2024. (Dominic Gwinn/Middle East Images/AFP via Getty Images/Getty Images)

Bessent, who previously taught at Yale University, has defended Trump’s plans to impose significantly higher tariffs on imports and did not single out China in his remarks, but has previously said that China’s trade practices they have emptied American industry.

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“Members of the Committee, these are just a few of the many important goals that President Trump has laid out for me and others on his economic team,” Bessent’s testimony concluded. “I strongly believe that if confirmed, and with your advice and support, we can usher in a new era of more balanced prosperity that will lift up all Americans and rebuild communities and families across the country.”

The Senate Finance Committee is responsible for holding a confirmation hearing Nomination of Bessent and advancing it to the floor for a confirmation vote.

Eric Revell, Sarah Rumpf-Whitten and Louis Casiano of Fox News Digital and Reuters contributed to this report.