Gene Sperling, Biden's top economic adviser, to join Harris campaign

Gene Sperling, a senior economic adviser to US President Biden and a former Ripple Labs board member, will leave the White House to join Vice President Harris' 2024 presidential campaign team. Biden announced the personnel change on August 5. Sperling has served as a senior adviser to the Biden administration since 2021. He previously served in the Clinton and Obama administrations and joined the Ripple board in 2015. David Plouffe, a former member of Binance's global advisory board, will also support Harris' campaign.

Sperling will serve as a senior economic adviser to Harris' policy team. The announcement was made by White House officials who spoke on condition of anonymity to discuss internal personnel changes.

Background and Contributions

Sperling has a distinguished history of public service, having served as director of the White House National Economic Council under both Bill Clinton and Barack Obama. During President Joe Biden's administration, Sperling was tasked with managing the $1.9 trillion pandemic aid package, which included the implementation of the temporary expansion of the child tax credit. He also acted as the liaison between the White House, unions, and car companies during the auto strikes.

President Biden praised Sperling's leadership, stating, "Under Gene’s leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions, made the largest-ever federal investment in public safety, and kept thousands of small businesses afloat."

Previous Collaborations

Sperling's collaboration with Harris dates back to his time in the Obama administration when she was the Attorney General of California. He frequently consulted with her during her tenure in the Senate and worked closely with her on promoting monthly payments for the child tax credit during Biden's presidency.

The pandemic relief programs that Sperling helped implement significantly reduced child poverty, with tax credits benefiting 40 million families and rental assistance reaching 8 million households.

Despite these achievements, the Biden administration has faced criticism from Republicans, who argue that the pandemic aid contributed to higher inflation. This has been a persistent issue, with many voters expressing concerns about the rising costs of groceries, housing, and gasoline. Recent financial market selloffs, driven by a weaker-than-expected jobs report, have added to these economic concerns.

The White House maintains that inflation is a global issue, with Chief of Staff Jeff Zients asserting that Sperling's efforts have "produced the strongest economy in the world." North Carolina Governor Roy Cooper described Sperling's work as "generational investments," highlighting his success in coordinating with states to implement the programs effectively.

Sperling's transition to the Harris campaign underscores the ongoing strategic efforts by the Democrats as they gear up for the upcoming election. His experience and expertise in economic policy will likely play a crucial role in shaping Harris' policy platform and campaign strategy.