Watch Live: Senate Most Likely to Confirm Steven Mnuchin as Treasury Secretary
After a drawn out battle between party lines, the Senate is expected to confirm former Goldman Sachs banker Steven Mnuchin as Treasury secretary Monday night.
Although Senate Democrats are expected to vote against Mnuchin, Senate Republicans hold the majority, suggesting that the new Treasury secretary will be ushered in on a 52-48 vote.
Opposition to Mnuchin has largely focused on his foreclosure record when he ran a California-bank called OneWest. Though in Monday’s hearing, the Treasury secretary pick is expected to talk about his stance on tax reform, financial services, and international economic diplomacy, Reuters reported.
Mnuchin is also expected to be more inclined toward free trade policies than President Donald Trump.
While Mnuchin’s future as a Treasury Secretary remains up in the air, another Goldman Sachs alumnus, Gary Cohn, has been taking on some of the role’s responsibilities. Cohn, who left his position as the second most powerful man at Goldman to become the director of the National Economic Council, is said to be helming the rollback on the Dodd-Frank Act and is also reportedly crafting Trump’s new tax plan.