Finance Committee vote on Yellen nomination scheduled for Friday

The Senate Finance Committee is scheduled to vote on Janet Yellen’s nomination to be Treasury secretary on Friday morning, according to a notice issued Wednesday by the office of outgoing Chairman Chuck Grassley (R-Iowa).

The notice of the Finance Committee vote comes one day after Yellen testified before the panel at her confirmation hearing.

Yellen, a former Federal Reserve chair, will play a key role in President Biden’s efforts to respond to the coronavirus-related economic downturn if confirmed. At her confirmation hearing, Yellen urged Congress to “act big” on coronavirus relief, championing Biden’s $1.9 trillion proposal.

Some Senate Republicans raised concerns at the hearing about the amount of federal spending in Biden’s coronavirus relief proposal, as well as Biden’s campaign proposals to raise taxes on corporations. Still, Yellen is expected to be confirmed with bipartisan support.

Democrats are hoping that Biden’s nominees can be confirmed quickly. Only one Biden nominee was confirmed Wednesday, the new president’s first day in office: Director of National Intelligence Avril Haines.