Janet Yellen’s appointment as first female Treasury Secretary clears major hurdle in Senate

Janet Yellen’s historic decision as head of the Treasury Department reached a key milestone on Friday morning after easily clearing an important vote in the Senate.

In addition to the experience she brings with her, this appointment would make Yellen the first woman to hold the position. She was previously the first woman to head the Federal Reserve.

The Senate Finance Committee on Friday approved President Joe Biden’s decision to appoint Yellen as Treasury Secretary, sending the nomination out by a 26-0 vote.

“We are proud to now have the first woman to serve as 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 the Main Street issues around the workforce, workforce training and important aspects of reviving the business. American economy and people’s return to work. “

Yellen still needs to be confirmed by the entire Senate. The indications are that Yellen’s name will be transferred to the Senate before the close of business on Friday.

The committee’s vote came with little debate or disagreement, like its confirmation hearing earlier in the week. Senator Ron Wyden, D-Ore., Said Yellen is “actually an NBA All-Star when it comes to clearing 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.

Committee chair Senator Chuck Grassley of R-Iowa said the acceleration of Yellen’s nomination was part of a Republican effort to tame some of the partisan grudge that permeated Washington during former President Donald Trump.

“Unfortunately, I cannot say that similar treatment was given to all of the applicants from the previous administration,” Grassley said. He added that the handling of Yellen’s nomination “signals an interest on my part and I know all of my Republican colleagues to work cooperatively and in a bipartisan fashion. … We are not interested in cancerous culture wars that only serve one purpose.” to divide the nation. “

If she got confirmation, it would put her in a critical position to execute the Democratic administration’s economic agenda.

The new president already finds himself locked in a brawl in Congress over his proposed $ 1.9 trillion spending plan. Approval could be several weeks away, and Biden is unlikely to get the full price.

Part of Yellen’s job will be to guide the proposal through Congress, where it is likely to face substantial resistance.

“I have very strong disagreements with Dr Yellen on a number of his positions, particularly in the areas of tax policy,” said Sen. Mike Crapo, R-Idaho. “But she has made a commitment to us to work with us on these issues and the concerns we have, and I think the strong vote from our side to support her today is an indication that we want to engage.”