Janet Yellen, US President Joe Biden’s candidate to become Secretary of the Treasury, speaks as Biden announces nominees and appointees to join his economic policy team at his transition headquarters in Wilmington, Delaware, US, December 1, 2020.
Leah Millis | Reuters
Janet Yellen’s historic move to lead the head of the Treasury Department took a significant step forward Friday morning after she easily approved a major vote in the Senate.
Together with the vast experience she brings, the appointment would make Yellen the first woman to hold the position. Rather, she was the first woman to run the Federal Reserve.
The Senate Finance Committee on Friday approved President Joe Biden’s decision to appoint Yellen as Secretary of the Treasury, passing the nomination by 26-0 votes.
“We are proud to now have the first woman to be the United States Secretary of the Treasury,” said Senator Maria Cantwell, D-Wash. “I really hope she can lead another day at Treasury to focus on Main Street workforce issues, workforce training, and the important aspects of getting the US economy back to work and getting people back to work.”
Yellen is still confirmed by the entire Senate. There are indications that Yellen’s name will be moved to the Senate before Friday’s end.
The vote in committee came with little debate or disagreement, similar to its confirmation hearing earlier this week. Senator Ron Wyden, D-Ore., Said Yellen is “basically an NBA All-Star when it comes to approving the Senate nomination process.”
Indeed, Yellen also navigated the process when she was twice appointed to the Fed’s board of governors. Yellen was also the first woman to lead the Council of Economic Advisers under former President Bill Clinton.
Emphasis on duality
Commission Chairman Senator Chuck Grassley, R-Iowa, said Yellen’s expedited appointment was part of a Republican effort to tame some of the partisan resentment that permeated Washington during former President Donald Trump’s tenure.
“Unfortunately, I cannot say that all the nominees from the previous administration received the same treatment,” said Grassley. He added that the handling of Yellen’s nomination “is a sign of interest from me and I know all my Republican colleagues in cooperation and in a two-party way … We are not interested in cancerous cultural wars that only serve to promote the nation to divide. “
If confirmed, it would put her in a critical position to carry out the economic agenda of the democratic government.
The new president is already in a congressional battle over his proposed $ 1.9 trillion spending plan. The approval can take several weeks and Biden is unlikely to get the full price tag.
Part of Yellen’s job will be to guide the proposal through Congress, where she is likely to face significant resistance.
“I have very strong disagreements with Dr. Yellen about some of her positions, particularly on tax policy,” said Senator Mike Crapo, R-Idaho. “But she has promised us that she will work with us on these issues and the concerns we have, and I think the strong voice on our part to support her today is an indication that we want to engage.”