U.S. Department of Commerce Secretary Gina Raimondo testified before the Senate Commerce Committee April 27 about the president's 2023 Commerce budget.
During this meeting, Raimondo put emphasis on the necessity for American competitiveness in the global arena and highlighted several elements of the Commerce budget which seek to boost U.S. economic strength, according to her testimony.
"At Commerce, we have one overarching goal: to improve America’s competitiveness so that our workers and companies succeed in the global economy," Raimondo said.
Before Raimondo’s testimony, Sen. Maria Cantwell gave the majority statement for the Commerce Committee. In her opening statements, Cantwell discussed the goal of the Commerce Department, namely to “foster, promote and develop foreign and domestic commerce.”
Cantwell said the Senate Commerce Committee would contemplate the president’s Commerce budget request and make sure its allocations were in line with the defined goal of the Department of Commerce.
During the budget hearing, the Senate Commerce Committee debated new and noteworthy investments described inside the Commerce Department budget, such as the National Oceanic Atmospheric Administration’s work to improve coastal infrastructure for businesses, the National Telecommunications and Information Administration’s work improving U.S. cybersecurity measures, the Manufacturing Extension Partnership program’s work promoting the growth of small and medium size businesses and the department’s investment to fight against the present CHIPS supply chain shortage, according to Cantwell.
During her testimony, Raimondo detailed six significant parts of the 2023 Commerce budget. First, the budget invests in domestic manufacturing to strengthen national supply chains. Second, it appropriates funds to promote global diplomacy and enforce export regulations. Third, the budget puts money into rural and economically challenged communities. Fourth, it designates funding to mitigate climate change. Fifth, the budget supports extensive commercial data analysis. Lastly, the budget puts an emphasis on cybersecurity and chip production.
