• Lutnick Nominated as Commerce Secretary, Poised to Oversee Broadband and CHIPS Programs

  • Feb 6 2025
  • Length: 3 mins
  • Podcast

Lutnick Nominated as Commerce Secretary, Poised to Oversee Broadband and CHIPS Programs

Listen for free

View show details

  • Summary

  • In a significant development, the Senate Commerce Committee voted 16-12 on February 5, 2025, to advance the nomination of Howard Lutnick for the position of Secretary of Commerce. Lutnick, who is currently the CEO of Cantor Fitzgerald, is poised to lead the agency responsible for several key initiatives, including the $42.5 billion Broadband Equity, Access, and Deployment (BEAD) program and the approximately $280 billion CHIPS and Science Act.

    Following the committee vote, Senate Commerce Committee Chairman Ted Cruz expressed his expectations for changes to the BEAD program, particularly regarding its fiber preference and broader program requirements. Cruz indicated that he anticipates the new administration will reverse certain policies implemented by the Biden administration, which he described as "lawless efforts." He also criticized the Biden administration's imposition of what he termed "left-wing policies" on recipients of CHIPS and Science Act funding, such as the requirement for semiconductor companies to provide child care, which he argued was not mentioned in the original statute.

    If confirmed by the full Senate, Lutnick will oversee critical tech and telecom programs. Cruz is optimistic about Lutnick's confirmation, suggesting it could happen as early as the next week.

    In related news, while not directly involving the Secretary of Commerce nominee, the broader context of trade and economic policies is pertinent. On February 1, 2025, the White House announced a decision to impose tariffs on imports from Canada, Mexico, and China, citing an "extraordinary threat" posed by illegal migration and drug trafficking, particularly fentanyl. Under the International Emergency Economic Powers Act (IEEPA), the administration justified these tariffs as a national emergency response. The tariffs include an additional 25% on imports from Canada and Mexico and a 10% tariff on imports from China.

    This move is part of a broader economic and trade strategy, which may intersect with the responsibilities of the Commerce Department under new leadership. The tariffs are intended to pressure these countries into taking action on migration and the fentanyl crisis, leveraging the U.S.'s relatively lower trade dependence compared to its trading partners.

    As the Senate prepares to confirm a new Secretary of Commerce, these ongoing developments highlight the complex and multifaceted role the position will play in shaping U.S. economic, trade, and technological policies.
    Show More Show Less
Show More Show Less

What listeners say about Lutnick Nominated as Commerce Secretary, Poised to Oversee Broadband and CHIPS Programs

Average Customer Ratings

Reviews - Please select the tabs below to change the source of reviews.

Audible.com.au reviews

Amazon Reviews
No Reviews are Available
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.