The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“Nomination of Janet Louise Yellen (Executive Session)” mentioning Susan M. Collins was published in the Senate section on page S122 on Jan. 25.
Of the 100 senators in 117th Congress, 24 percent were women, and 76 percent were men, according to the Biographical Directory of the United States Congress.
Senators' salaries are historically higher than the median US income.
The publication is reproduced in full below:
Nomination of Janet Louise Yellen
Mrs. FEINSTEIN. Madam President, I rise in support of Janet Yellen's nomination to be Secretary of the U.S. Department of the Treasury. I've known Janet since she became president of the Federal Reserve Bank of San Francisco in 2004. I believe she is an excellent nominee for this position.
Janet has an impressive record. She served twice on the Federal Reserve Board of Governors and was the first woman to chair the Fed from 2014 to 2018. She became a professor of economics at the University of California--Berkeley in 1980, she is now professor emeritus. Dr. Yellen served as Chair of the Council of Economic Advisors under President Clinton and has been very active as a distinguished fellow at the Brookings Institution.
As some have joked, Janet's husband of 42 years, George, won the Nobel Prize in Economic Sciences, yet he is only the second-most accomplished economist in his own home.
All of these accomplishments did not come easily for a woman in the male-dominated field of economics.
Out of the 24 students who received doctorates in economics from Yale in 1971, Janet was the only woman. She has been a trailblazer her entire career.
Now, Janet brings the experience and leadership needed at the Treasury Department at this critical juncture.
I believe that Janet understands that the economy is not an abstract series of charts and figures, but a collection of real individuals, families, communities and businesses who need help now.
At the same time, she is pragmatic and recognizes the need for fiscal discipline. I believe she made that clear in her confirmation before the Finance Committee, where I had the honor of introducing her.
In short, she is the ideal candidate to head the Treasury Department at a time when we can afford nothing less. I urge the Senate to confirm her nomination. Thank you.
Ms. COLLINS. Madam President, as we face an economic crisis brought on by COVID-19, we will need steady, proven leadership at the Treasury Department. A highly respected economist, Dr. Yellen served first as Vice Chair and then Chair of the Federal Reserve. She has served under Democratic and Republican presidents and during periods of economic crisis and economic growth.
Last year, I worked with my colleagues to deliver bipartisan relief for those who have been harmed by the pandemic. We addressed the crisis in five bills totaling approximately $3 trillion. Through subsequent negotiations in November and December on an additional $900 billion package, we secured a second round of Paycheck Protection Program forgivable loans for the hardest hit small businesses and extended unemployment programs, assistance for schools, vaccine delivery, and more. But additional work remains.
During this crisis, Secretary Mnuchin proved himself to be an able partner to all of us in delivering this relief. It is my hope that Treasury Secretary-designate Yellen will build on our work. In her testimony before the Senate Finance Committee and during the subsequent questions, Dr. Yellen made clear that she understands these needs.
Our nation's eight living former Secretaries of the Treasury have provided their support for the nomination. I urge the swift confirmation of Janet Yellen to ensure that President Biden has a qualified economic team in place.
Thank you.
Mr. VAN HOLLEN. Madam President, I rise today to support the nomination of Janet Yellen, a dedicated public servant and world-
renowned economist, as Secretary of the Treasury.
Janet Yellen's extensive background in economics and accomplished career in the field led her to Chair the Federal Reserve, where she served with distinction in the aftermath of the great recession. Ms. Yellen brought a steady hand and wisdom befitting her experience to her responsibilities at the helm of the Federal Reserve, and as a member of the Banking Committee, I always appreciated her frank testimony and thoughtful analysis.
In her new role as Treasury Secretary, she will inherit an economic crisis caused by a mismanaged pandemic. She will be charged not only with providing historic relief in close coordination with Congress, but also with building back better to create the conditions for a dynamic economy that harnesses the potential of each and every American. I am confident in her ability to take on these urgent challenges. I look forward to voting yes on her nomination and working closely with her in the years ahead to ensure that we build an economy that works for everyone.
Mr. CASSIDY. I yield the floor.
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