Raimondo, Gina M

More stories

  • 75 Shares169 Views

    in Economy

    Biden Gains Two Key Economic Advisers

    by

    AdvertisementContinue reading the main storySupported byContinue reading the main storyBiden Gains Two Key Economic AdvisersThe Senate confirmed Gina Raimondo as President Biden’s commerce secretary and Cecilia Rouse as the head of the Council of Economic Advisers.Gina Raimondo, left, brings experience as Rhode Island governor and a venture capitalist to her role as commerce secretary, and Cecilia Rouse, a Princeton economist, has previously been a member of the council she is about to lead.Credit…Kriston Jae Bethel for The New York TimesAna Swanson and March 2, 2021, 7:11 p.m. ETWASHINGTON — The Senate confirmed two key members of President Biden’s economic team on Tuesday, ushering in Gina Raimondo, the governor of Rhode Island and a former venture capitalist, as the next secretary of commerce, and Cecilia Rouse, a Princeton University economist, as chair of the White House Council of Economic Advisers.Dr. Rouse will become the first Black chair of the economic council in its 75-year history. She was approved by a vote of 95 to 4.Ms. Raimondo was confirmed 84 to 15. A moderate Democrat with a background in the financial industry, Ms. Raimondo is expected to leverage her private- and public-sector experience to oversee a sprawling bureaucracy that is charged with both promoting and regulating American business.Under Ms. Raimondo, the Commerce Department is likely to play a crucial role in several of Mr. Biden’s policy efforts, including spurring the American economy, building out rural broadband and other infrastructure, and leading America’s technology competition with China. The department also carries out the census and oversees American fisheries, weather monitoring, telecommunications standards and economic data gathering, among other activities.Senator Maria Cantwell, Democrat of Washington, said that she thought Ms. Raimondo’s private-sector experience would help her facilitate new investments and create jobs in the United States, and that she was “counting on Governor Raimondo to help us with our export economy.”Ms. Cantwell also said she believed Ms. Raimondo would be a departure from President Donald J. Trump’s commerce secretary, Wilbur Ross. “I think he and the president spent a lot more time shaking their fists at the world community than engaging them on policies that were really going to help markets and help us move forward with getting our products in the door,” she said.A graduate of Yale and Oxford, Ms. Raimondo was a founding employee at Village Ventures, an investment firm backed by Bain Capital. She also co-founded her own venture capital firm, Point Judith Capital, before being elected treasurer and then governor of Rhode Island.The first female governor of the state, she was known for introducing a centrist agenda that included training programs, fewer regulations and reduced taxes for businesses. She also led a restructuring of the state’s pension programs, clashing with unions in the process.Ms. Raimondo drew criticism from some Republicans in her nomination hearing in January, when she declined to commit to keeping certain restrictions in place on the exports that could be sent to the Chinese telecom firm Huawei, which many American lawmakers see as a threat to national security.Speaking on the Senate floor on Tuesday, Senator Ted Cruz, Republican of Texas, denounced those remarks and urged his colleagues to vote against Ms. Raimondo. “There has been a rush to embrace the worst elements of the Chinese Communist Party in the Biden administration. And that includes Governor Raimondo,” he said.Under Mr. Trump, the Commerce Department played an outsize role in trade policy, levying tariffs on imported aluminum and steel for national security reasons, investigating additional tariffs on cars and placing a variety of curbs on technology exports to China.Ms. Raimondo and other Biden administration officials have not clarified whether they will keep those restrictions, saying they will first carry out a comprehensive review of their effects.Dr. Rouse is the dean of the Princeton School of Public and International Affairs, and a former member of the council under President Barack Obama. Her academic research has focused on education, discrimination and the forces that hold some people back in the American economy. She won widespread praise from Republicans and Democrats alike in her confirmation hearing, with senators voting unanimously to send her nomination from the Banking Committee to the full Senate.She will assume her post amid an economic and public health crisis from the coronavirus pandemic, and in the waning days of congressional debate on a $1.9 trillion economic aid package that Mr. Biden has made his first major legislative priority.But in interviews and her hearing testimony, Dr. Rouse has made clear that she sees a larger set of priorities as council chair: overhauling the inner workings of the federal government to promote racial and gender equity in the economy.“As deeply distressing as this pandemic and economic fallout have been,” she said in her hearing, “it is also an opportunity to rebuild the economy better than it was before — making it work for everyone by increasing the availability of fulfilling jobs and leaving no one vulnerable to falling through the cracks.”One of her initiatives will be to audit the ways in which the government collects and reports economic data, in order to break it down by race, gender and other demographic variables to improve the government’s ability to target economic policies to help historically disadvantaged groups.“We want to design policies that will be economically effective,” Dr. Rouse said in an interview this year. Asked how she would judge effectiveness, she replied, “It’s by keeping our eye on this ball, and asking ourselves, every time we look at a policy: What are the racial and ethnic impacts?”AdvertisementContinue reading the main story More

  • 125 Shares149 Views

    in Economy

    As Senate Weighs Biden’s Commerce Pick, Here’s What to Watch

    by

    #masthead-section-label, #masthead-bar-one { display: none }The New WashingtonliveLatest UpdatesMilitary Ban on Transgender People LiftedBiden’s CabinetPandemic ResponseAdvertisementContinue reading the main storySupported byContinue reading the main storyAs Senate Weighs Biden’s Commerce Pick, Here’s What to WatchA Senate committee will question Gina M. Raimondo, President Biden’s pick for commerce secretary, at a hearing Tuesday morning.Governor Gina M. Raimondo is the Biden administration’s pick to lead the Commerce Department.Credit…Kriston Jae Bethel for The New York TimesJan. 26, 2021Updated 7:34 a.m. ETWASHINGTON — The Commerce Department has taken on new importance in recent years, with wide-ranging authority over issues as broad as technology exports and climate change. On Tuesday, President Biden’s nominee to run the sprawling agency, Gina M. Raimondo, will appear before the Senate Commerce Committee for a confirmation hearing. Ms. Raimondo, the current governor of Rhode Island, is a moderate Democrat and former venture capitalist.Here are five things to watch for as the hearing gets underway at 10 a.m.Countering China’s growing technological reachSenators of both parties are likely to question Ms. Raimondo on how she plans to use the Commerce Department’s powers to counter China’s growing mastery of cutting-edge and sensitive technologies, like advanced telecommunications and artificial intelligence.The Trump administration made heavy use of the department’s authorities to crack down on Chinese technology firms, turning often to the so-called entity list, which allows the United States to block companies from selling American products and technology to certain foreign firms without first obtaining a license. Dozens of companies have been added to the Commerce Department’s list, including telecom giants like Huawei and ZTE, which many American lawmakers see as threats to national security.“You can be reasonably confident that the members will demand a tough line” on China, said William Reinsch, a trade expert at the Center for Strategic and International Studies who was a high-level commerce official during the Clinton administration.The Commerce Department was also given responsibility for outlining President Donald J. Trump’s U.S. ban on the Chinese-owned social media apps TikTok and WeChat — actions that were subsequently halted by a court order — and for studying bans against other Chinese apps. Mr. Biden has said he sees TikTok’s access to American data as a “matter of genuine concern,” but it’s unclear how the new administration will address these issues.But the Commerce Department has other capabilities that some tech experts say were underutilized in the Trump administration, like the role it plays in setting global technology standards that private firms must operated under. China has taken an increasingly active role in global standards-setting bodies in recent years, helping to ensure adoption of technologies that are made in China, Mr. Reinsch said, and senators may press Ms. Raimondo on the issue.Jump-starting the economic recoveryMr. Biden has emphasized Ms. Raimondo’s role in helping to promote small businesses while serving as the governor of Rhode Island — both before and during the pandemic.As commerce secretary, she would wield certain authorities that could help struggling businesses and advance the Biden administration’s goals of building up domestic industry and revitalizing American research and development.That includes economic development programs and manufacturing partnerships that the Commerce Department offers to small and midsize enterprises, as well as its core mission of promoting American exports.The department could also play a bigger role in expanding high-speed internet access for rural and low-income communities, a particularly critical issue as the pandemic has forced much commerce and schooling online. The National Telecommunications and Information Administration, an agency within the Commerce Department, leads the government’s efforts on broadband access.The New Washington More