President-elect Donald Trump’s pick for Treasury secretary, Scott Bessent, said Thursday during his confirmation hearing that he will not support raising the federal minimum wage, The Hill reported.

During the hedge fund manager’s appearance before the Senate Finance Committee, Sen. Bernie Sanders, I-Vt., pressed him to consider working alongside lawmakers who want to establish a “living wage.”

“I believe that the minimum wage is more of a statewide and regional issue,” Bessent said.

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