Finance

Senate panel advances Trump’s nominee to lead Small Business Administration

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The Senate Small Business and Entrepreneurship Committee on Wednesday voted to advance President Trump’s nominee to lead the Small Business Administration (SBA).

The panel voted to approve Jovita Carranza’s nomination in a bipartisan vote of 17-2. The only no votes were Sens. Ed Markey (D-Mass.) and Cory Booker (D-N.J.).

Carranza is currently the treasurer of the United States, a position in the Treasury Department that involves overseeing the department’s Office of Consumer Policy and the U.S. Mint. She had served as deputy administrator of the SBA during former President George W. Bush’s administration.

During her confirmation hearing earlier this month, Carranza said that if she’s confirmed, she plans to “put particular emphasis on opening more doors for women and for entrepreneurs in underserved communities, including military families and veterans.” She also said that she plans to prioritize disaster preparedness.

Trump’s first SBA administrator, Linda McMahon, stepped down earlier this year to take a job with a political group supporting the president’s reelection campaign. The SBA is currently being led by acting Administrator Chris Pilkerton.

The leaders of the Small Business and Entrepreneurship Committee were positive about the vote.

“I congratulate Ms. Carranza on being favorably reported to the Senate floor,” Committee Chairman Marco Rubio (R-Fla.) said in a statement. “If confirmed, I look forward to working collaboratively with her to modernize the SBA, optimize the agency’s programs, and increase interagency coordination.”

The top Democrat on the committee, Sen. Ben Cardin (Md.), said that he looks forward “to working with Treasurer Carranza to empower America’s entrepreneurs so they can build successful businesses and create jobs.” 

Tags Ben Cardin Cory Booker Donald Trump Ed Markey Jovita Carranza Linda McMahon Marco Rubio SBA Small Business Administration
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