US Treasury Secretary Addresses Senate Hearing on IRS Role
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2026
0mins
Source: CNBC
- Role Clarification: US Treasury Secretary Scott Bessent stated during a Senate Finance Committee hearing that he is performing the duties of the IRS commissioner, despite not being the acting commissioner, raising questions about his authority.
- Acting Commissioner Controversy: Bessent has served as acting commissioner since August but took over the commissioner duties in a low-profile move two and a half months ago, with the IRS stating his acting term had expired while he retains responsibilities for unfilled Treasury positions.
- Information Leak Concerns: Senator Catherine Cortez Masto pressed Bessent on whether approximately 400,000 taxpayers affected by a leak from a former IRS contractor would receive the same protections as Trump and his family, to which Bessent could not provide a direct answer, citing representation by the Justice Department.
- Litigation Impact: Bessent emphasized that the Treasury would follow the settlement instructions agreed upon with the Justice Department, although he could not disclose further details, indicating limited transparency and information disclosure amid ongoing legal proceedings.
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About DJT
Trump Media & Technology Group Corp. (TMTG) is a social media and technology-focused company. The Company's product, Truth Social, is a social media platform where any user can create content, follow other users and engage in an open global conversation. The Company does not restrict whom a user can follow. Additionally, users can be followed by other users without requiring a reciprocal relationship, enhancing the ability of its users to reach a broad audience. Its products and services include Truth Social and Truth+. TMTG operates a TV streaming platform, Truth+, across the entire Truth Social platform-iOS, Android, and the Web. The streaming service relies on TMTG's custom-built content delivery network (CDN), which operates through a data center. TMTG's streaming technology is powered through specially designed infrastructure with its own servers, routers, and software stack. The Company is also focused on launching Truth.Fi, a financial service and FinTech brand.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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