Neera Tanden, Biden’s OMB national team to investigate Wall Street ties

The election of President-elect Joe Biden to lead the Office of Administration and Budget has been a political insider for more than a decade, and the alliances he has developed as an influential leader of the Democratic Party can be examined during the ratification process – both sides of the corridor.

Tanden, the 50-year-old daughter of Indian immigrants, would be the first colorful woman to lead the OMB if confirmed.

Since 2011, Neera Tanden has been the CEO of the Washington-based Liberal Brain Trust and the American Center for Progress and its political faculty, the American Progress Action Fund. The nonprofit was originally founded by John Podesta, Hillary Clinton’s 2016 campaign president.

An examination of Tanden’s records has already focused on his Twitter posts criticizing President Donald Trump and Republican lawmakers, as well as clashes with Senator Bernie Sanders and his progressive allies. Many of these progressives pointed to his relationships with corporate and settlement policy leaders as one of the reasons for not being a member of Biden’s cabinet.

Tanden criticized Sanders in March for not dropping out of the Democratic race after Biden secured key victories during Super Tuesday and when the coronavirus headed for the United States.

“You know who could have stopped the pre-election? Sanders! Biden is already the winner of plurality, which was Sanders’ standard. It could be stopped, but instead he made people vote,” Tanden, then, appears to be a supporter of Sanders. “It endangered people far more than my tweeted question. At the same time, he repeatedly tweeted about Sanders ’support.

Prior to his position as CEO of the CAP, he advised Hillary Clinton and Barack Obama during the 2008 election. He was an advisor to Kathleen Sebelius, secretary of health and human services in the Obama administration, and then advised Clinton during her 2016 campaign against Trump.

If Democrats can’t get the most important victories during the U.S. Senate’s runoff in Georgia on Jan. 5, Tanden’s reinforcement isn’t a slam dunk. Even if Democrats gain the majority, they may face tough questions. Several Republican senators have opposed his election as head of the OMB.

Nevertheless, as a potential head of OMB, Tanden will be responsible for preparing and implementing the administration’s budget for Congress. The agency, as Bill Kristol, former administrative consultant Ronald Reagan, tweeted, “where the reckless projects of cabinet secretaries are destroyed, where programs are evaluated, where compromises are made.”

Over the years in Washington, Tanden and the nonprofit he leads have developed close relationships with business and political leaders. According to the person informed in the case, he intends to continue to serve as President and CEO of the CAP through the ratification process.

“He’s smart like a whip and knows the structure of the government’s cold,” said Orin Kramer, founder of the hedge fund and board member of the CAP Action Fund, in a recent interview with CNBC.

Under tanden, the center and its political army collected millions from those associated with Wall Street and Silicon Valley.

In an email in February 2016, Tanden informed CAP’s board of directors that he would recommend Jonathan Lavine, co-chair of investment juggernaut Bug Capital, to join the board.

“Jonathan has been a donor to the CAP for a long time, but he was interested in becoming a major investor. He also supported Media Matters and other progressive organizations,” Tanden wrote at the time. “Based on his excellent career, his philanthropy and his work on progressive affairs, I think he would be an excellent complement to the board,” he said.

The Lavine Foundation gave the foundation at least $ 1 million last year. The CAP publishes its donors on its website.

A spokesman for CAP and Tanden did not send a request for comment on this story.

Senator Mitt Romney, R-Utah, co-founder of Bain. In Romney’s unsuccessful election against Obama in 2012, Tanden seemed to be targeting the company.

The CAP 990 tax return shows that Lavine was on the board in 2018 but not in 2019.

Eric Mindich, long-term managing director of the hedge fund, has been a member of the board of directors since his last tax return in 2019.

Others who gave a great deal to the organization last year, including Mindich and his wife; Stewart Bainum Jr., president of Choice Hotels International, associated with the late CEO of Golden West Financial Corp; and Lawrence Linden, former CEO of Goldman Sachs. Among others are big financial companies like BlackRock, Kohlberg Kravis Roberts and Bank of America. Facebook gave $ 100,000 to $ 4,99,999 last year, the website writes.

Another member of the CAP board from the financial community is Donald Sussman, a democratic megadon donor and hedge fund manager. Her daughter, Emily Sussman, was paid more than $ 60,000 in 2018 as “executive director of campaigns,” the 990 statement at the time says.

Even with CAP’s loyalty to the business world, Tanden has at times repressed Hillary Clinton’s critics, who targeted the former Secretary of State’s earlier speech at financial firms. In the past, the CAP has called for the elimination of the loophole in interest rates and for changes in antitrust policies and enforcement, among other key proposals, in addition to the introduction of a financial transaction tax.

Last year, the Center for American Progress Action Fund, the political arm of the CAP, stepped up its efforts to encourage what was said about its return to “shape the national policy debate and turn progressive concepts into policy.”

In 2019, the CAP offered more than $ 8 million to the action fund, almost double that of a year earlier. CAP Action doubled its fundraising last year to $ 16 million and turned more than $ 8 million in part to the now defunct ThinkProgress news organization.

The cash infusion of CAP Action into ThinkProgress occurred in the same year that the news was closed. The Daily Beast at the time reported that ThinkProgress was in the middle of a $ 3 million hole in revenue and expenditure.

This also happened during the democratic presidential election, and while CAP Action continued to target Trump.

The CAP and the press were investigated earlier this year as a video aimed at Sanders was released. Tanden insisted at the time that the newsgroup was editorially independent of CAP and CAP Action, calling the video “too hard”.

Several of Lieutenants Sanders ’publicly blamed such attacks on Tanden from his 2016 and 2020 presidential campaigns. Since Monday’s announcement, there has been strong opposition to the election of OMB’s head.

Tanden’s support for deficit-reducing lawmakers when considering a federal coronavirus helper has gathered some progressive Democrats behind his election.

Adam Green, whose Progressive Change Campaign Committee supported Senator Elizabeth Warren’s presidential candidacy, told CNBC that Tanden’s disadvantage over the shortcomings that determine how the coronavirus stimulus is delivered is positive for advanced users.

“Different people have different perspectives on Neera Tanden. I see his selection as a bigger signal from Joe Biden’s rejection of corporate Democrats who sound like Paul Ryan while waving a squeezing scalpel to cut programs during a pandemic.” Instead, he wants the government to help people, “Green said in a recent interview.

Warren responded positively on Monday to a supportive tweet from Senator Sherrod Brown, D-Ohio.

Tanden and other co-authors argued in a March publication on the website of the Center for Budgetary and Political Priorities that shortcomings should not be taken into account when deciding on coronavirus stimulus plans.

“Given the magnitude of the crisis, now is not the time for policymakers to worry about increasing deficits and debt while considering what steps to take,” they wrote in March at the start of the pandemic. One of the co-authors was Heather Boushey, who was elected a member of Biden’s economic advisory board.

Tanden has mocked so-called Republican deficit hawks in the past, especially as Trump has increased government spending. The Federal Budget Committee in charge said in February that federal spending had increased by $ 800 billion.

Tanden once tweeted that he idolized Sylvia Mathews Burwell, who was Obama’s leader during the second term of the OMB, and supported the Affordable Supply Act and other moderate democratic priorities. Burwell’s previous praise may be a sign that he will lead the agency in a similar way.