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.

Sanders, who introduced legislation in the 117th Congress to raise the federal minimum wage to $15 per hour, followed up by asking, "So you don't think we should change the federal minimum wage of $7.25 an hour?"

"No, sir," Bessent responded.

While the federal minimum wage has remained at $7.25 per hour since 2009, many states and municipalities have passed legislation setting higher minimum pay rates.

According to the Economic Policy Institute, 30 states and multiple cities, including Washington, D.C., have established higher wage floors than the federal level.

In May 2022, the U.S. Bureau of Labor Statistics reported that approximately 30 million Americans — about one-quarter of the nation's workforce — earned under $15 per hour. Another 22.8%, or 33.8 million workers, made between $15 and $19.99 per hour.

Bessent's confirmation would not grant him the power to change wages unilaterally, as such measures would require an act of Congress. Nevertheless, Sanders appealed to Bessent to consider the priorities of legislators who view higher pay as crucial for economic well-being.

Trump has indicated an openness to reexamining the current minimum wage. In a December interview with "Meet the Press," he said he would "consider" raising the federal rate but stopped short of committing to a specific number. He also cautioned that a significant increase might harm certain businesses.

"The other thing that is very complicated about minimum wage is places are so different," Trump said. "Mississippi and Alabama and great places are very different than New York or California in terms of the cost of living and other things."

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