The U.S. Senate votes to confirm former banker and Hollywood financier Steven Mnuchin as Treasury secretary. Rough Cut (no reporter narration).
ROUGH CUT - NATURAL (NO REPORTER NARRATION) The U.S. Senate voted to confirm former banker and Hollywood financier Steven Mnuchin as Treasury secretary on Monday, installing the Trump administration's point-man on tax reform, financial de-regulation and economic diplomacy efforts. The Senate voted 53-47 to confirm the Goldman Sachs veteran's nomination on a mostly party-line vote, with only one Democrat, Senator Joe Manchin of West Virginia, voting in favour. Mnuchin was expected to be sworn into office on Monday night in a brief White House ceremony, putting a Wall Street veteran in charge of the Treasury for the first time in eight years, after the financial crisis pushed top U.S. bankers out of favour. Lawmakers, lobbyists and business groups have been waiting for Mnuchin to fill in the many blanks on how he will pursue tax reform and handle delicate economic cooperation efforts with China, Mexico and other trading partners worried about President Donald Trump's "America First" trade strategy. Mnuchin faces immediate challenges with the March 15 expiration of a U.S. debt ceiling suspension, ushering in the threat of a new default showdown, and a March 17 meeting of finance ministers from the Group of 20 major economies, where he will face tough questions about Trump's plans to increase trade protections.