Trump nominates Bessent for treasury secretary, Vought for budget chief, and Chavez-DeRemer for labor secretary

President-elect Donald Trump has nominated Scott Bessent as treasury secretary, Russel Vought as budget chief, and Rep. Lori Chavez-DeRemer for labor secretary. Bessent, a hedge fund manager, supports deficit reduction and could gain bipartisan support. Vought previously led the Office of Management and Budget during Trump's first term and is known for his conservative fiscal policies. His budget proposals include significant spending cuts across various government departments. Bessent's nomination marks a potential shift in approach, as he aims to address the national debt while extending some tax cuts. If confirmed, he would be the first openly gay treasury secretary.