Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said the question of eliminating the U.S. debt limit is "nuanced," but said if Trump wants to do so he will work with him and with Congress to get it done.

Extending the 2017 Tax Cuts and Jobs Act is a top economic priority, and failing to keep tax cuts in place will wreak havoc on the middle class, according to President-elect Trump’s pick to lead the Treasury Department, Scott Bessent .

Here's what to know about the Treasury secretary pick Bessent, who heads into his confirmation hearing and may become the first Senate-approved LGBTQ+ member in a Republican cabinet.