As the race for President-elect Donald Trump’s next Treasury secretary heats up, billionaires Elon Musk and Kyle Bass have voiced their support for their respective candidates, Howard Lutnick and Scott Bessent. The infighting between the two camps has caused delays in decision-making, leading to the consideration of alternative candidates such as Robert Lighthizer and Senator William Hagerty.
Lutnick, who played a key role in Trump’s fundraising efforts during the campaign, has been seen as a disruptor by Musk, while Bass believes Bessent is more qualified for the position. However, Lutnick’s past campaign donations to Hillary Clinton and Kamala Harris may complicate his chances of securing the cabinet post.
Meanwhile, Trump has not publicly shared his opinion on the matter, leaving his advisors to speculate on potential roles for Lutnick if he is not chosen as Treasury secretary. Both candidates have been lobbying Trump for support, creating tension within the decision-making process.
In other news from the transition, Trump has endorsed Michael Whatley for another term as Republican National Committee co-chair, and appointed William Owen Scharf as staff secretary. Additionally, Chris Wright has been selected to lead the Energy Department.
The lobbying efforts for the Treasury job have intensified as Trump aims to overhaul tariff and tax policy. Despite Musk’s political influence, his endorsement of Rick Scott was not enough to sway Senate Republicans in their leadership decision. The final selection for Treasury secretary ultimately lies with Trump, who has not revealed his preference publicly.
Overall, the final push for the coveted Treasury secretary position continues as the warring camps of Bessent and Lutnick vie for Trump’s approval. The outcome remains uncertain as tensions rise and alternative candidates are considered for the role. Stay tuned for more updates on this developing story.
