Biden Aides Draft Sovereign Wealth Fund

This is a US news story, published by Fortune, that relates primarily to Jake Sullivan news.

US news

For more US news, you can click here:

more US news

Jake Sullivan news

For more Jake Sullivan news, you can click here:

more Jake Sullivan news

emerging technologies news

For more emerging technologies news, you can click here:

more emerging technologies news

Fortune news

For more news from Fortune, you can click here:

more news from Fortune

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best tech news, business news, entertainment news, and much more. If you like emerging technologies news, you might also like this article about

national security interests

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest National Security Advisor Jake Sullivan news, wealth fund news, emerging technologies news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

potential funding source

Fortune

•

Biden's national security staff have been working on a sovereign wealth fund for months

Summary

Nutrition label

70% Informative

National Security Advisor Jake Sullivan and his deputy, Daleep Singh , have been crafting a proposal to create a sovereign wealth fund.

The fund would allow the US to invest in national security interests including technology, energy, and critical links in the supply chain.

Aides believe the fund could help bolster US interests by providing first loss equity capital, guarantees, or bridge financing to illiquid but solvent companies competing with Chinese firms.

Critics say the fund could be exploited for political projects of sitting presidents.

Conservative economist Douglas Holtz-Eakin questioned the need for a fund.

Trump said he envisioned the fund as a way to address persistent debt issues and said it would be funded through tariffs on all imports.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language