In this Sept. 7, 2021, file photo President Joe Biden talks with reporters after landing on Marine One on the South Lawn of the White House in Washington. Biden has proposed more than $3 trillion worth of revenue increases, primarily through higher taxes for corporations and the country’s richest households as well as greater IRS enforcement that would target the wealthy. But key lawmakers voiced doubts this week about the size and possible impacts on the economy as congressional committees weighed the measures and a wide array of business groups sifted through the details to highlight what they oppose. (AP Photo/Susan Walsh)

By Megan Sayles, AFRO Business Writer
Report for America Corps Member

On his campaign trail, President Joe Biden promised voters he would construct a government that would reflect America and its diversity, which he views as one of the country’s greatest strengths. His Cabinet includes the first Black secretary of defense, the first female treasury secretary, the first Native American to serve as a Cabinet secretary and the first openly gay Cabinet member. 

His latest bout of nominees advances his dedication to diversity. On September 12, President Biden announced his nomination of 10 individuals, four of whom are African American, to serve in key government roles. 

Kristin Johnson, an Asa Griggs Candler professor at Emory University School of Law, was nominated to be a member of the Commodity Futures Trading Commision (CFTC). This commission regulates U.S. derivatives markets, including futures, options and swaps. Johnson has extensive experience working on financial markets’  risk management law and policy, and she specializes in the regulation of complex financial products that include secondary market trading and settlement of securities and derivatives. 

Reta Jo Lewis, senior fellow and director of congressional affairs at the German Marshall Fund of the United States, was nominated for president and chair of the Export-Import (EXIM) Bank of the United States, which assists businesses in exporting their goods by providing loans, loan guarantees and insurance. If confirmed, Lewis will be the first person of color to chair the bank. Her professional background includes serving as the first African-American female vice president and counselor for the U.S. Chamber of Commerce and serving as the first special representative for global intergovernmental affairs for the U.S. Department of State during the Obama administration. 

Arthur Jemison, principal deputy assistant secretary for the Office of Community Planning and Development for the U.S. Department of Housing and Urban Development (HUD), was nominated for assistant secretary for public and Indian housing at HUD. Beforing working in the department, Jemison acted as the group executive for planning, housing and development for the city of Detroit and served in leadership roles at Massachusetts’ Department of Housing and Community Development (DHCD). 

Alanna McCargo, senior advisor for housing finance in HUD, was nominated for president of the Government National Mortgage Association (Ginnie Mae) at HUD. McCargo has worked in housing for decades and focuses on how the U.S. housing finance system can equitably provide credit and capital to households. Her previous roles include serving as the vice president of the Housing Finance Policy Center at the Urban Institute and as vice president and head of government solutions for CoreLogic, a property and mortgage data analytics firm. 

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