Senate panel unanimously advances top Biden economic nominees

The Senate Finance Committee on Wednesday advanced two of President Biden’s key economic nominees with strong bipartisan support, paving the way for smooth confirmations in the full Senate.

The panel unanimously approved both Katherine Tai to be the U.S. trade representative and Wally Adeyemo as deputy Treasury secretary by voice vote.

Tai will be the first woman of color and Asian to serve as trade representative, while Adeyemo will be the first Black deputy secretary at the Treasury Department.

Tai’s breezy passage indicates a return to a more bipartisan approach to trade, which had been upended during the four years former President Trump served in the Oval Office. In her confirmation hearings, she talked about strong enforcement of existing trade deals, the importance of focusing on China as both a partner and a competitor, and the possibility of rejoining multilateral agreements such as the Trans-Pacific Partnership.

“Not many hearings at the Senate feature as much bipartisan praise for nominees as Thursday’s hearing on Katherine Tai’s nomination to be the U.S. trade representative,” said Sen. Ron Wyden (D-Ore.), the Finance Committee chair.

Tai, a former lawyer for the House Ways and Means Committee, had the unusual honor of having both the top Democrat and Republican from the panel — Reps. Richard Neal (D-Mass.) and Kevin Brady (R-Texas) — offering statements of support for her confirmation.

“Trade is not only a bipartisan issue in Congress, but one where we can build a very strong, unified approach with the administration,” said Sen. Mike Crapo (Idaho), the top Republican on the Senate committee. 

But he sounded a more combative note at Wednesday’s hearing, saying he was disappointed in the responses to 220 questions Tai answered over the weekend.

Adeyemo also earned bipartisan praise for his background, which included both private sector experience at BlackRock, and public sector economy policy experience at Treasury and the National Economic Council.

“He’s committed to rebuilding our economy out of the wreckage of the pandemic unemployment crisis in a way that allows all Americans to get ahead,” Wyden said.