Austin News

In Washington, D.C., Senator Ted Cruz expressed his support for Howard Lutnick during the Senate Commerce Committee's confirmation hearing for the position of U.S. Secretary of Commerce. Chairman Cruz highlighted Lutnick's entrepreneurial background as an asset in promoting investments in emerging technologies and enhancing America's leadership in AI innovation and commercial space regulation.

Cruz stated, "Today, we are considering the nomination of Howard Lutnick to be the next Secretary of Commerce. Mr. Lutnick, congratulations on this important nomination." He emphasized that as Secretary of Commerce, Lutnick would play a crucial role in implementing President Trump's agenda and managing significant legislative measures like the CHIPS and Science Act.

Senator Cruz detailed Lutnick's personal history, noting his rise from challenging circumstances to become chairman of Cantor Fitzgerald at 35 years old. He recalled the tragic events of September 11, 2001, when terrorists killed Lutnick’s brother Gary and 658 employees at Cantor Fitzgerald. Despite this loss, Lutnick rebuilt the company into a global powerhouse with over 13,000 employees across more than 60 offices worldwide.

Lutnick has been recognized for his philanthropy following 9/11 by providing financial support to families affected by the tragedy. He also contributes his time to various boards including Haverford College and the National September 11 Memorial and Museum.

Looking ahead, Cruz mentioned key issues that will be addressed under Lutnick's potential leadership such as export controls on emerging technologies and expanding access to mid-band spectrum. He concluded by expressing optimism about Texas benefiting from Lutnick’s guidance on these initiatives.