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Nominee Bessent acknowledges ongoing tax litigation, says firm will be shuttered and he will provision contested taxes
Summary
Senator Sheldon Whitehouse and others raised that Scott Bessent's partnership tax arrangements are the subject of IRS disagreement and litigation; Bessent said the matter is in litigation, that his firm will be shuttered if confirmed, and that he will provision funds and follow court outcomes.
Senator Sheldon Whitehouse raised a personal‑tax issue about Scott Bessent’s past partnership tax structure and an IRS position that the arrangement should not permit the claimed Medicare tax avoidance. Whitehouse described the concern as politically sensitive given the committee’s broader questions about tax fairness and Medicare funding.
Besse…
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