The Senate confirmed wealthy financier Howard Lutnick as commerce secretary Tuesday, putting in place a staunch supporter of President Donald Trump's hardline trade polices.

Lutnick is the biggest donor to his alma mater, Haverford College, and CEO of Cantor Fitzgerald, a financial services firm.

Howard Lutnick, the newly confirmed Commerce Secretary under President Donald Trump's administration, reiterated the President's proposal of the abolition of the Internal Revenue Service (IRS).

U.S. President Donald Trump will end the United States' immigrant investor visa program known as the "EB-5 Program," Commerce Secretary Howard Lutnick said on Tuesday.

Lutnick will oversee 50,000 employees who do everything from collecting economic statistics to running the census to issuing weather reports.

Trump said Friday that his new commerce secretary, Howard Lutnick, “will be looking” at the U.S. Postal Service.

Commerce Secretary Howard Lutnick and FBI Director Kash Patel were sworn in on Friday. Kash Patel was sworn in to be Trump's FBI director on Friday by Attorney General Pam Bondi. Kash Patel is sworn in as FBI director by Attorney General Pam Bondi in the Indian Treaty Room in the Eisenhower Executive Office Building on the White House campus in Washington,

The Trump administration reportedly started to lay off nearly 7,000 new workers from the IRS on Thursday, including many who work in enforcement. A day earlier, Commerce Secretary Howard Lutnick told Fox News that Trump’s goal is to “abolish” the IRS and replace its tax revenue with tariff cash.

So I will divest, meaning I will sell all of my interests, all of my business interests, all of my assets, everything," Lutnick said

Follow the latest news and updates as Howard Lutnick is sworn in to Donald Trump's Cabinet, the president signs more executive orders and CPAC enters another day.

Howard Lutnick said that Elon Musk is going to "cut a trillion dollars of waste, fraud, and abuse" in Social Security, Medicaid, and Medicare.

Panelists Lisa Boothe and David Marcus discuss the swearing in of U.S. Secretary of Commerce Howard Lutnick on ‘The Will Cain Show.’