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Finance Committee vote on Yellen nomination scheduled for Friday

Finance Committee vote on Yellen nomination scheduled for Friday
© New York Times/Pool

The Senate Finance Committee is scheduled to vote on Janet YellenJanet Louise YellenOn The Money: Centrists gain leverage over progressives in Senate infrastructure battle | White House rules out gas tax hike Inflation concerns spark new political fights Irish finance minister seeks compromise on global minimum tax MORE's nomination to be Treasury secretary on Friday morning, according to a notice issued Wednesday by the office of outgoing Chairman Chuck GrassleyChuck GrassleyBiden's program for migrant children doesn't go far enough The Hill's Morning Report - Presented by Facebook - Biden support, gas tax questions remain on infrastructure 64 percent of Iowans say 'time for someone else' to hold Grassley's Senate seat: poll MORE (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.

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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.