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Senate slated to vote on South Carolina billionaire hedge fund executive to lead US Treasury

The Senate is scheduled to vote Monday afternoon to confirm President Donald Trump’s pick to lead the Treasury Department.

The Senate voted on Saturday to advance Scott Bessent’s nomination by a 67–23 margin and his confirmation is expected Monday.

Bessent recently appeared before the Senate Finance Committee for his confirmation hearing, where he called to extend the 2017 Tax Cuts and Jobs Act that Trump approved during his first term.

“This is the single most important economic issue of the day,” Bessent, a hedge fund billionaire from South Carolina, told lawmakers.

TRUMP TREASURY PICK: EXTENDING TRUMP TAX CUTS ‘SINGLE MOST IMPORTANT ECONOMIC ISSUE’

Scott Bessent, Trump’s pick to lead the Treasury, said extending the 2017 Tax Cuts and Jobs Act is the ‘single most important economic issue of the day.’ (Vincent Alban/Bloomberg via Getty Images)

“If we do not renew an extension, then we will be facing an economic calamity,” Bessent said. “And, as always, with financial instability, that falls on the middle and working class.”

Bessent cautioned that a “gigantic” middle-class tax increase would occur if the tax cuts expire.

Many of the reforms included in the 2017 Tax Cuts and Jobs Act are scheduled to end in 2025. Groups like Americans for Prosperity, a grassroots network founded by the billionaire Koch Brothers, claim that millions of Americans will face a hike of more than $1,500 in taxes in 2026 if the cuts are not renewed.

GET TO KNOW DONALD TRUMP’S CABINET: WHO HAS THE PRESIDENT-ELECT PICKED SO FAR?

Investor and hedge fund manager Scott Bessent testifies before a Senate Finance Committee hearing on his nomination to be secretary of the Treasury, on Capitol Hill, Jan. 16, 2025. (Getty)

But critics of Trump’s tax plan, including Democratic lawmakers like Sen. Elizabeth Warren, D-Mass., and groups like the liberal public policy institute Center for American Progress, argue the cuts only benefited the wealthy and claim the perks failed to reach ordinary workers.

However, Bessent said Trump and his administration will create a “golden age” of economic prosperity for all Americans.

TRUMP’S TREASURY NOMINEE TURNS TABLES ON SANDERS IN TESTY EXCHANGE ABOUT BIDEN’S OLIGARCHY COMMENTS

The Senate is expected to confirm President Donald Trump’s pick to lead the Treasury Department, Scott Bessent, on Jan. 27, 2025. (Kevin Lamarque/Reuters/File Photo)

“Today, I believe that President Trump has a generational opportunity to unleash a new economic golden age that will create more jobs, wealth and prosperity for all Americans,” Bessent said at his confirmation hearing.

Trump’s economic plan includes extending the 2017 tax cuts and imposing tariffs ranging from 10% to 20% on all imported goods. For countries like China, that number could go up to 60%.

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Bessent, who previously wrote an op-ed for Fox News Digital supporting the use of tariffs, backed the Trump administration’s employment of tariffs in multiple exchanges with lawmakers during his confirmation hearing.

The Treasury Department is responsible for managing federal finances and oversees agencies that include the IRS.

Diana Stancy is a politics reporter with Fox News Digital covering the White House.

January 27, 2025
South Korean airliner’s final 4 minutes of recordings are missing after crash that killed 179: investigators

The first report on last month’s Jeju Air crash in South Korea confirmed the plane’s two black boxes stopped recording about four minutes prior to the crash that killed 179 people on board.

The preliminary accident report released by South Korea’s Aviation and Railway Accident Investigation Board on Monday said the flight data and cockpit voice recorders on the Boeing 737-800 had stopped working, confirming what the country’s Transportation Ministry initially said earlier this month.

South Korean officials had sent the devices to the U.S. National Transportation Safety Board for closer examination after discovering that some of the data was missing. It remained unclear why the devices stopped recording.

The report also found traces of bird strikes – feathers and bird blood stains – in both the plane’s engines, though officials have yet to determine what caused the crash.

“The samples were sent to specialized organizations for DNA analysis, and a domestic organization identified them as belonging to Baikal teals,” the report said, referring to a migratory duck.

SOUTH KOREA PLANE’S FINAL MOMENTS CAPTURED ON VIDEO BEFORE HITTING CONCRETE BARRIER, TRIGGERING EXPLOSION

The wreckage of a Boeing 737-800 plane operated by South Korean budget airline Jeju Air lies at Muan International Airport in Muan, South Korea, on Dec. 31, 2024. (AP Photo/Ahn Young-joon, File)

The plane skidded off the runway at Muan International Airport on Dec. 29, 2024, after its landing gear failed to deploy, slamming into a concrete structure and bursting into flames. Only two of the 181 people on board survived.

Experts from the NTSB and joint investigation team between the U.S. and South Korea check the site of a plane crash at Muan International Airport in Muan, South Korea, on Dec. 31, 2024. (Son Hyung-joo/Yonhap via AP, File)

The flight was returning from Bangkok and all the victims were South Koreans except for two Thai nationals.

RUSSIA BEING BLAMED FOR AZERBAIJAN AIRLINES PLANE THAT CRASHED HUNDREDS OF MILES OFF COURSE, KILLING DOZENS

Investigators earlier said that air traffic controllers warned the pilots about possible bird strikes two minutes before the aircraft issued a distress signal confirming that a bird strike had occurred, after which the pilots attempted an emergency landing.

The preliminary report said the pilots also noticed a group of birds while approaching the runway at the Muan airport and that a security camera had filmed the plane coming close to birds during an aborted landing.

The report said authorities will disassemble the engines, examine their components in depth, analyze the black box and air traffic control data, and investigate the embankment, localizer and bird strike evidence to ultimately determine the cause of the crash.

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Officials said the report has been sent to the International Civil Aviation Organization, Thailand, the U.S. and France, adding that the aircraft was built in the U.S. and its engines in France.

The Associated Press contributed to this report.

January 27, 2025
South Carolina suspends DJ who controversially played song to troll LSU, Flau’jae Johnson

University of South Carolina athletics said Sunday it suspended the DJ who played a song to troll the LSU Tigers women’s basketball team and its star Flau’jae Johnson after the Gamecocks’ win in their pivotal matchup.

No. 2 South Carolina topped No. 5 LSU, 66-56, on Friday night. The Gamecocks’ win ended the Tigers’ undefeated streak to start the season.

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LSU head coach Kim Mulkey talks to guard Flau’jae Johnson during the game against South Carolina in Columbia, Friday, Jan. 24, 2025. (AP Photo/Nell Redmond)

South Carolina’s official DJ, DJ T.O., played the instrumental version of Camoflauge’s “Cut Friends.” Camoflauge was shot and killed in Savannah, Georgia, outside Pure Pain Records while he was walking his son. He is the father of Flau’jae Johnson and the shooting occurred six months before she was born, according to NOLA.com.

DJ T.O. reshared someone’s post about the song on Instagram and wrote “My bad” with a cry-laughing emoji.

Flau’jae is a rapper in her own right and has dedicated her career to her late father. She called out the DJ on X.

DUKE’S COOPER FLAGG DESCRIBED AS ‘GENERATIONAL’ PLAYER AFTER PERFORMANCE IN WIN OVER WAKE FOREST

LSU guard Flau’jae Johnson goes up to shoot a jumper over Vanderbilt guard Mikayla Blakes in Baton Rouge, Louisiana, Jan. 13, 2025. (AP Photo/Peter Forest)

“I’ll take my L on the chin, but this just nasty behavior. Nun funny bout that,” Johnson wrote on Saturday.

South Carolina then addressed the incident.

“We are addressing Friday night’s inappropriate in-game song selection and subsequent Instagram post by the DJ who is hired to work our women’s basketball games,” the school said. “Her actions were understandably upsetting to Flau’jae Johnson and her family and disrespectful to the LSU program and fans. Conference rivalries and passionate fan bases should only serve to enhance sports, not be used to target individual players personally.

LSU guard Flau’jae Johnson shoots past Florida guard Me’Arah O’Neal on Sunday, Jan. 19, 2025, in Gainesville, Florida. (AP Photo/Alan Youngblood)

“We regret that it came to that in our venue after a game that saw both teams capture the level of national attention that women’s basketball has earned and we apologize to Flau’jae, her family and LSU.

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“As a result of her actions, DJ T.O. will be suspended for the next women’s basketball home game, and we will meet with her to provide further education on our expectations of her in the future.”

Follow Fox News Digital’s sports coverage on X and subscribe to the Fox News Sports Huddle newsletter.

Ryan Gaydos is a senior editor for Fox News Digital.

January 26, 2025
Impeached South Korea President Yoon Suk Yeol indicted on insurrection charges

South Korean prosecutors have indicted impeached President Yoon Suk Yeol on charges of leading a rebellion after he briefly imposed martial law last month, according to the country’s opposition party, as well as several South Korean media reports.

Yoon, a conservative, has presidential immunity from most criminal prosecutions, but the privilege does not extend to allegations of rebellion or treason. By law in South Korea, the leader of a rebellion can face life in prison or the death penalty.

“The prosecution has decided to indict Yoon Suk Yeol, who is facing charges of being a ringleader of insurrection,” Democratic Party spokesman Han Min-soo said at a press conference, according to Reuters. “The punishment of the ringleader of insurrection now begins finally.”

The move announced Sunday makes Yoon the first sitting South Korean president to face an indictment and criminal investigation, according to the Washington Post.

Yoon became the second conservative president to be impeached in South Korea when the opposition-led parliament voted to suspend his duties on Dec. 14.

IMPEACHED SOUTH KOREAN PRESIDENT DETAINED WEEKS AFTER MARTIAL LAW CHAOS

South Korea’s impeached President Yoon Suk Yeol, attends the fourth hearing of his impeachment trial over his short-lived imposition of martial law at the Constitutional Court in Seoul, South Korea, on Jan. 23, 2025. (Jeon Heon Kyun/Pool Photo via AP)

He was arrested earlier this month over his Dec. 3, 2024, martial law decree that plunged Asia’s fourth-largest economy and a key U.S. ally into political turmoil. Yoon has steadfastly denied any wrongdoing, calling his martial law a legitimate act of governance meant to raise public awareness of the danger of the liberal-controlled National Assembly, which obstructed his agenda and impeached top officials.

In declaring martial law, Yoon called the assembly “a den of criminals” and vowed to eliminate “shameless North Korea followers and anti-state forces.”

He sent troops and police officers to the assembly, but enough lawmakers still managed to enter an assembly chamber to vote down Yoon’s decree unanimously, forcing his Cabinet to lift it.

Though Yoon rescinded the decree after just six hours, the martial law imposition was the first of its kind in South Korea in more than 40 years and evoked painful memories of past dictatorial rules in the 1960s-80s.

Yoon had resisted efforts by investigative authorities to question or detain him. After a days-long standoff between his security detail and authorities, Yoon was then apprehended on Jan. 15 in a massive law enforcement operation at his presidential compound, becoming the first sitting South Korean president to be arrested. Yoon, a former prosecutor himself, has been held in solitary confinement since then, according to Reuters.

Supporters of impeached South Korean President Yoon Suk Yeol attend a rally to oppose his impeachment near the Constitutional Court in Seoul, South Korea, Thursday, on Jan. 23, 2025. (AP Photo/Ahn Young-joon)

SOUTH KOREA’S IMPEACHED PRESIDENT AVOIDS ARREST ATTEMPT AFTER HOURSLONG STANDOFF

After a local court on Jan. 19 approved a formal arrest warrant to extend Yoon’s detainment, dozens of his supporters stormed the court building, destroying windows, doors and other property, according to the Associated Press. They also attacked police officers with bricks, steel pipes and other objects. The violence left 17 police officers injured, and police said they detained 46 protesters.

Separate from criminal judicial proceedings, the Constitutional Court is now deliberating whether to formally dismiss Yoon as president or reinstate him.

Leading Yoon’s investigation was the Corruption Investigation Office for High-Ranking Officials, but since his detainment Yoon has refused to attend CIO’s questioning, saying it has no legal authority to investigate rebellion allegations. The CIO has said it can investigate Yoon’s rebellion allegation as it’s related to his abuse of power and other allegations.

Supporters of impeached South Korean President Yoon Suk Yeol attend a rally to oppose his impeachment in Seoul, South Korea, on Saturday, Jan. 25, 2025. (AP Photo/Ahn Young-joon)

The CIO handed over Yoon’s case to the Seoul prosecutors’ office Friday and asked it to indict him on rebellion, abuse of power and obstruction of the National Assembly.

In a statement Saturday, Yoon’s defense team urged prosecutors to immediately release Yoon and launch an investigation into the CIO.

South Korean media outlets, including Yonhap news agency, reported on Sunday that the Seoul Central District Prosecutors’ Office indicted Yoon on rebellion charges.

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Yoon’s defense minister, police chief and several other military commanders have already been arrested over their roles in the martial law decree.

The Associated Press contributed to this report.

Danielle Wallace is a breaking news and politics reporter at Fox News Digital. Story tips can be sent to [email protected] and on X: @danimwallace.

January 26, 2025
South African president signs controversal land expropriation law

South African President Cyril Ramaphosa signed into law a bill that will allow the government to seize land without having to pay compensation, which some in the government say is a threat to private ownership.

The law, which replaces the pre-democratic Expropriation Act of 1975, “outlines how expropriation can be done and on what basis” by the state, the government says, according to the BBC.

Ramaphosa’s party, the African National Congress, or ANC, hailed the law as a “significant milestone.” However, some members of the government have signaled they will challenge the legality of the law.

INCOMING TRUMP ADMIN, CONGRESS SHOWDOWN LOOMS WITH SOUTH AFRICA OVER SUPPORT FOR RUSSIA, US FOES

Cyril Ramaphosa, president of South Africa, delivers a speech during a plenary session in Congress Hall during the 55th annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 21, 2025. (Michael Buholzer/Keystone via AP)

The country’s majority Black citizens own just a small fraction of farmland more than 30 years after the end of apartheid. Most landowners are part of the White minority, according to the news report.

The new law allows for the expropriation of land without compensation only in circumstances where it is “just and equitable and in the public interest.”

That includes when the property is not being used and there’s no intention to either develop it or if it poses a public safety risk.

“In terms of this law, an expropriating authority may not expropriate property arbitrarily or for a purpose other than a public purpose or in the public interest,” Vincent Magwenya, the president’s spokesperson, said in a news release.

MISSING NORTH CAROLINA STUDENT BROOK CHEUVRONT, 20, FOUND DEAD IN SOUTH AFRICA

Table Mountain in Cape Town, South Africa, in July 2023 (Xabiso Mkhabela/Xinhua via Getty Images)

“Expropriation may not be exercised unless the expropriating authority has without success attempted to reach an agreement with the owner or holder of a right in property for the acquisition thereof on reasonable terms,” he added.

The Democratic Alliance (DA), the second-largest party in the government, said it “strongly opposes” the law and was consulting with its lawyers.

It says that while it supports legislation addressing land restitution, it takes issue with the process followed by the country’s parliament to enact the law, the BBC report states.

South Africa’s ANC party has fielded candidates facing corruption charges. (Reuters/Mike Hutchings)

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The Freedom Front Plus party, which defends the rights of South Africa’s White minority, vowed to challenge the law and do “everything in its power” to have it amended if it is found to be unconstitutional.

January 24, 2025
House GOP firebrand invokes Trump while mulling gubernatorial run in South Carolina: ‘I’m a fighter’

Rep. Nancy Mace says if she moves ahead and launches a 2026 Republican run for South Carolina governor, she’ll aim “to lock down support” from President Trump.

“I had Pres. Trump’s endorsement in the House and I am working hard to lock down support in this race. He said I am a strong conservative voice, he knows I’m a fighter,” Mace said Thursday in a statement to Fox News Digital.

A day earlier, Mace took to social media to reiterate what she first told the AP, that’s she’s seriously considering a gubernatorial run in the race to succeed GOP Gov. Henry McMaster, who is term-limited.

WHY NANCY MACE CHALLENGED DEMOCRATIC CONGRESSWOMAN TO ‘TAKE IT OUTSIDE’

Rep. Nancy Mace (R-South Carolina) arrives for a House Republican caucus meeting at the U.S. Capitol on November 19, 2024 in Washington, DC. (Kevin Dietsch/Getty Images)

“President Trump needs bold leaders to implement his agenda in every state across the nation. It will take grit. It will take strength. It will take hard work. I can confirm, affirmative, yes, we are considering a run in 2026. South Carolina First,” Mace said in her social media post.

Mace, who was first elected to the House in the 2020 election, didn’t vote to impeach Trump for inciting the Jan. 6, 2021 storming of the U.S. Capitol by right-wing extremists and other Trump supporters who aimed to disrupt congressional certification of former President Biden’s 2020 election victory.

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But she later blamed Trump for the attack on the U.S. Capital, and in 2022 faced – but survived – a Republican primary challenge from a rival backed by Trump.

Republican Rep. Nancy Mace of South Carolina speaks to supporters at a campaign event in Summerville, S.C., on June 12, 2022 (Fox News )

Mace endorsed the former president as he ran for the 2024 GOP presidential nomination and campaigned for him in South Carolina’s crucial early voting presidential primary.

Trump returned the favor, backing Mace as she ran for re-election last year.

Mace told Fox News Digital that “I’ve proven my leadership, from the state legislature to Washington, my bold conservative policies are rooted in the Constitution, liberty, small government, and common sense.”

“I believe in a government small enough to fit into the Constitution,” she added.

2026 GOVERNORS RACES: RAMASWAMY DONE AT DOGE, EXPECTED TO LAUNCH OHIO GUBERNATORIAL CAMPAIGN IN DAYS

And Mace emphasized that “I kick ass and take names from South Carolina to DC and back, that’s the leadership the Palmetto State is looking for.”

Mace recently made headlines by introducing a resolution to ban transgender women from using women’s bathrooms at the U.S. Capitol or the adjoining House office buildings. It’s an issue of high interest to many voters on the right.

Rep. Nancy Mace speaks on Day 3 of the Republican National Convention, at the Fiserv Forum in Milwaukee, Wisconsin, on July 17, 2024. (REUTERS/Mike Segar)

Trump is very popular in Republican-dominated South Carolina, and his endorsement in a GOP gubernatorial primary would be immensely influential among the state’s conservative electorate.

Attorney General Alan Wilson, Lt. Gov. Pamela Evette, and state Sens. Josh Kimbrell and Sean Bennett are among those also considering gubernatorial bids.

It’s going to be a crowded field, veteran South Carolina-based Republican consultant Dave Wilson told Fox News. “There’s going to be a lot of people who are going to throw their hat in the ring.”

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“It’s going to be a battle of the conservatives – how conservative you can be in South Carolina,” Wilson emphasized.

McMaster, another top Trump ally, is on track to become South Carolina’s longest serving governor. The then-lieutenant governor succeeded Gov. Nikki Haley in 2017 when she stepped down to become ambassador to the United Nations in Trump’s first term. McMaster went on to win election in 2018 to a full four-year term, and re-election in 2022.

Paul Steinhauser is a politics reporter based in New Hampshire.

January 23, 2025
National Milk Day 2025: How to Make Payasam at Home? Simple and Easy Recipe to Make Popular South Indian Dessert (Watch Video)

National Milk Day is celebrated every year in the US on January 11. National Milk Day 2025 falls on Saturday, January 11. Celebrate the day by trying a South Indian dessert called payasam. Payasam is a very popular South Indian dessert. It is a festive favourite. To make payasam, start by boiling milk in a pan. Once it starts simmering, you can add soaked rice or roasted vermicelli and cook until they soften. Now, add sugar to taste and stir until it melts. Once the mixture becomes thick, add cardamom power for flavour. To enhance the taste, fry cashews, raisins, and almonds in ghee and add them to the payasam. Let it cook for a few more minutes, and your creamy and sweet payasam is ready! You can enjoy it warm or even chilled. National Milk Day: Date, History, Significance, of The Day First Milk Deliveries Began in the United States.

Delicious Payasam Recipe

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January 11, 2025
African National Congress Foundation Day 2025: Know All About the South African Political Party That Saw Nelson Mandela As the Country’s First President (Watch Video)

African National Congress Foundation Day is marked to honour the formation of the African National Congress (ANC) on January 8, 1912. The primary goal of the South African political party was to unite African people and defend their rights and freedoms. The ANC Foundation Day, celebrated on January 8, offers an opportunity to reflect on Africa’s journey from colonial rule to self-governance and, most importantly, the end of the apartheid regime. It was in 1991 when Nelson Mandela was elected as the ANC President. Mandela, who was often called the ‘Gandhi of South Africa’ because of his shared values with Mahatma Gandhi and his use of Gandhi’s ethics in his own work, became a significant face of ANC’s rich legacy. January 2025 Holidays and Festivals Calendar: Check Dates of Important Events in the First Month of the Year.

The liberation struggle eventually culminated in the 1994 general elections in which ANC secured a historic victory and Nelson Mandela was elected as the first black President of South Africa. Since then, the ANC remained a dominant political force in South Africa. If you want to learn more about Nelson Mandela, watch the show Bharat Ratna The Jewels of India.

Watch Video of “Bharat Ratna The Jewels of India” To Learn More About Nelson Mandela

Bharat Ratna The Jewels of India is a show that celebrates the recipients of India’s highest civilian honour. Through the medium of graphics and information, the show, intends to exhibit hidden unknown and loved stories from lives of these legendary characters.

(The above story first appeared on LatestLY on Jan 08, 2025 02:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

January 8, 2025