PANews reported on January 17 that U.S. Treasury Secretary nominee Benson appeared at a Senate hearing and warned that if most of the 2017 Republican tax cuts are not extended after they expire at the end of this year, the United States will face an economic crisis that will hit the middle class and the working class. He also said that the federal government's debt under his management "will not default" and that he respects the Federal Reserve's independence in monetary policy. In addition, he also expressed support for expanding sanctions on Russian oil companies. In his prepared speech, Benson also emphasized the importance of addressing the budget deficit, saying that the United States needs to "restore fiscal order" by adjusting domestic non-essential spending. He pointed out that non-essential spending other than benefits such as social security and federal Medicare has "grown an astonishing 40% over the past four years."