Steven Mnuchin Wins Senate Confirmation As Treasury Secretary
Feb 15, 2017 09:05 AM EST
After overcoming the strong objection from Democrat, Senate confirmed the appointment of Steven Mnuchin as Treasury Secretary on Monday, Feb. 13. The Democrat senators questioned his background as a banker, but Republicans convinced his experience is a good qualification.
Following the bitter partisan attack on President Trump Cabinet, the U.S. Senate on Monday confirmed the appointment of Mnuchin to be Treasury Secretary as reported by CNBC. The 53-47 vote cleared the 54-year old former hedge fund manager to become the 77th U.S. Treasury Secretary.
He was sworn that Monday after the confirmation, and immediately went to work. Mnuchin joined the White House Press Secretary Sean Spicer in a Daily Briefing on Tuesday to announce his decision to impose new sanctions against the Vice President of Venezuela Tareck El Aissami and his business associates. El Aissami has faced allegations by the DEA, Homeland Security and the U.S. Immigration and Customs Enforcement since 2011 for his participation in drug trafficking and money laundering.
Democrats have been targeting Mnuchin for his business practice. They said his experience is the example of corporate mapractice which led to the 2008 financial crisis according to New York Times. However, the Democrat failed to deliver convincing statement and evidence of the allegations to Mnuchin.
On the other hand, chairman of the Senate’s Finance Committee, Senator Orrin Hatch (R-Utah) stated that Mnuchin’s experience is essential to his appointment. Sen. Orin said that Mnuchin has experience to manage complicated deal and taking difficult decision which he held his accountability for the decisions.Mnuchin admitted to senated that he made some very difficult decisions in his tenure as bankers and hedge fund manager.
“I have been maligned as taking advantage of others' hardships in order to earn a buck,” Mnuchin told the Senate Finance Committee in the confirmation hearing. “Nothing could be further from the truth." Watch Mnuchin’s swearing in as Treasury Secretary from Wall Street Journal below: