Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story  Trump's Treasury nominee takes center stage Scott Bessent, President-elect Trump's pick to lead the Treasury Department, appeared before the Senate Finance Committee Thursday for a confirmation hearing. © Greg Nash Sen. Lindsey Graham (R-S.C.) introduced Bessent, a fellow South Carolinian, to the committee. “Scott Bessent’s from South Carolina. He’s academically gifted and real-world tested. He went to Yale, so nobody’s perfect,” Graham said, calling his nomination a “home run." In his opening statement, Bessent called on senators to extend Trump’s 2017 tax cuts, calling this a "pass-fail" moment. Several provisions are set to expire in 2026, putting pressure on lawmakers to pass a new bill before the end of the year. Trump also made several promises on the campaign trail, such as eliminating taxes on tips, that lawmakers are expected to incorporate. “We must make permanent the 2017 Tax Cuts and Jobs Act and implement new pro-growth policies to reduce the tax burden on American manufacturers, service workers and seniors,” Bessent said. Democratic senators grilled the nominee on IRS direct file, taxes on wages versus wealth, raising the federal minimum wage and allegations that he avoided paying hundreds of thousands of dollars in taxes by classifying himself as a limited partner of Key Square Group. Read more about today's hearing on TheHill.com.   Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.   Did someone forward you this newsletter? Subscribe here.   Lobbying Line  The latest moves in some of Washington’s biggest lobbying battles: Five former lobbyists are poised to join Trump's Cabinet. The Hill’s Taylor Giorno has more here. Three former lawmakers have joined lobbying firms since leaving Congress earlier this month.   Essential Reads  Key business and economic news with implications this week and beyond:   Canada sends Trump ‘message’ with retaliatory tariff talk Canada must send a “message” to President-elect Trump on tariffs, one of the country’s provincial leaders said Wednesday alongside Prime Minister Justin Trudeau, who described the threatened levies as unnecessary.  Full Story   American Express to pay $230M to settle deceptive marketing, fraud probe American Express has agreed to pay $230 million to settle a federal probe into deceptive marketing practices and civil fraud allegations, the Department of Justice (DOJ) announced Thursday.  Full Story   Trump Treasury secretary nominee won’t support raising minimum wage Scott Bessent, President-elect Trump’s Treasury secretary nominee, said Thursday that he would not support raising the minimum wage.  Full Story COMING UP The Hill's Evening Report breaks down the day's big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox   The Ticker  Upcoming news themes and events we're watching: President-elect Trump is set to be sworn in Monday at noon ET.   In Other News  Branch out with more stories from the day: American Express agrees to pay more than $138M to resolve investigation into sales and marketing NEW YORK (AP) — American Express has agreed to pay more than $138 million to resolve a wire fraud … Full Story   Good to Know  Business and economic news we've flagged from other outlets: These five Republicans are ready to derail Trump’s tax cuts over the SALT cap (CNBC) With 72 hours to go, TikTok ban sends Washington scrambling (Politico) Inside the RFK Jr.-Alex Jones Bromance (Mother Jones)   What Others are Reading  Top stories on The Hill right now: NAACP Legal Defense Fund report finds Trump AG pick Pam Bondi ‘undermined’ voting rights Pam Bondi, President-elect Trump’s pick to lead the Department of Justice (DOJ), has a history of “undermining” voting rights, according to a report opposing Bondi from the NAACP’s Legal Defense Fund.  Read more Fetterman’s approach to Trump stirs speculation Sen. John Fetterman’s (D-Pa.) open-minded approach to President-elect Trump is fueling questions about his motives and vexing some of his fellow Democrats. Read more     You're all caught up. See you tomorrow!  Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct to your inbox. Sign up for the Business and Economy newsletter Subscribe