Born and raised in Rhode Island, Raimondo began her career in venture capital after law school. In 2000, she co-founded Point Judith Capital, Rhode Island's first venture capital firm. Raimondo entered politics in 2010, when she was elected general treasurer of Rhode Island.[3] During her first year in office, she prioritized reforming Rhode Island's public employee pension system.[4]
Gina Marie Raimondo was born in 1971[15] in Smithfield, Rhode Island, where she later grew up. Of Italian descent, she is the youngest of Josephine (Piro) and Joseph Raimondo's three children.[16][17] Her father, Joseph (1926–2014), made his career at the Bulova watch factory in Providence, Rhode Island; he became unemployed at 56 when the Bulova company moved its operations to China, shuttering the factory in Providence.[18] Raimondo is a childhood friend of U.S. Senator Jack Reed.[19]
Raimondo graduated from LaSalle Academy in Providence. She was one of the first girls allowed to attend the Catholic school, from which she was graduated as valedictorian.[20][21] She went on to Harvard College, graduating magna cum laude in 1993 with a Bachelor of Arts degree in economics. While at Harvard, Raimondo resided in Quincy House and served on the staff of The Harvard Crimson. She played rugby at the Radcliffe Rugby Club, later joking that the experience "was good training for a career in politics".[22]
Raimondo returned to Rhode Island in 2001 to co-found the state's first venture capital firm, Point Judith Capital. Point Judith later relocated to Boston, Massachusetts.[28] At Point Judith, Raimondo served as a general partner covering health care investments; she retains some executive duties with the firm.[29][30] Under her leadership, Point Judith grew to over $100 million in assets and reportedly helped grow over 20 businesses.[31]
General Treasurer of Rhode Island (2011–2015)
2010 election
In 2010, incumbent general treasurerFrank T. Caprio chose to run for governor rather than seek a second consecutive term in office.[32] Describing the position of general treasurer as “a professional job, not a political job", Raimondo announced her candidacy for the position, her first campaign for elected office.[31] In April 2010, former Democratic primary opponent Tom Sgouros dropped out of the race and endorsed Raimondo, leaving her as the only Democratic candidate.[33]
Running a campaign that emphasized her business credentials, Raimondo pledged to "use the power as the chief investment officer to lean on banks to invest again". Her platform called for financial empowerment programs at senior centers and schools, and for protecting consumers from predatory lending and mortgages.[34] On November 2, Raimondo was elected general treasurer, defeating Republican nominee Kernan F. King by a margin of 62% to 38%.[3]
Tenure
During her first year as general treasurer, she prioritized reforming Rhode Island's public employee pension system, which was 48% funded in 2010.[4] In April 2011, Raimondo led the state retirement board to reduce the state's assumed rate of return on pension investments from 8.25 percent to 7.5 percent.[35]
In May 2011, Raimondo released "Truth in Numbers", a report that advocated benefit cuts as the solution to Rhode Island's pension problems, and she helped lead the effort to cut pensions, along with then-Speaker of the House Gordon Fox.[36] The Rhode Island Retirement Security Act (RIRSA) was enacted by the General Assembly on November 17, 2012, with bipartisan support in both chambers. The next day, then-Governor Lincoln Chafee signed RIRSA into law. RIRSA's legality was challenged in court by the public employee unions, but a settlement was reached in June 2015.[37]
Under Raimondo's tenure, the pension fund was criticized for underperforming when compared with its peers.[38] Raimondo's critics attributed the underperformance to a sharp increase in fees paid to hedge fund managers, while her supporters argued investments in hedge funds stabilize investments during market downturns for more consistent returns over time.[39]
Raimondo in 2012
OSIP program
Raimondo created the Ocean State Investment Pool (OSIP), designed as a low-cost investment vehicle intended to help the state and municipalities better manage and improve the investment performance of their liquid assets, which are used for day-to-day operations including payroll and operating expenses. $500 million in funds could be eligible for the program, which would enable Treasury "to extend its expertise to municipalities and improve investment returns by creating economies of scale".[40] The program officially launched on April 23, 2012.[41] As of November 2021, the OSIP program is managed by Fidelity Investments.[42]
Payday lending
During the Rhode Island General Assembly's 2012 session, Raimondo advocated for a decrease in the maximum allowable interest rate on payday loans in Rhode Island. She hosted a roundtable discussion with then-Providence mayor Angel Taveras and members of the Rhode Island Payday Reform Coalition.[43]
Raimondo submitted letters to the Senate and House Corporations Committees in support of payday reform legislation. She wrote: "Far too many families are facing financial challenges that might be mitigated or avoided through a greater understanding of personal finance," and "payday loans exploit that lack of understanding... With numerous economic challenges, Rhode Island should not permit the sale of a financial product that traps so many customers in a cycle of debt."[44] Raimondo wrote an op-ed in the May 29, 2012 edition of The Providence Journal in support of payday lending reform.[45]
Raimondo was elected to serve as the vice chair of the Democratic Governors Association (DGA) for the 2018 election cycle.[6] She was elected chair of the DGA in 2019.[48][49] In 2018, Raimondo was reelected, defeating former secretary of stateMatt Brown in the Democratic primary and Republican nominee Fung in the general election.[50][51] Her reelection made her the first candidate to secure a majority of votes for that office since 2006.
Tenure
Raimondo was the first female governor of Rhode Island,[52] and one of nine incumbent female governors in the United States at time of her resignation. During her tenure, she was credited with cutting taxes every year and removed eight thousand pages of regulations—30% of the state's regulations. She raised the state minimum wage to $11.50, created a sick-leave entitlement, financed the largest infrastructure program in the state's history, and made community colleges tuition-free.[18] Raimondo appointed more judges of color than any of her predecessors,[53] including Melissa A. Long, the first Black woman to serve on the Rhode Island Supreme Court.[54]
As governor, Raimondo presided over Rhode Island's initial response to the COVID-19 pandemic. On March 28, 2020, New York Governor Andrew Cuomo threatened Raimondo with a lawsuit over a new state quarantine policy that would require people from New York, which had been hit hard by the COVID-19 pandemic, to self-quarantine for 14 days upon arrival in Rhode Island.[7][8] On March 29, Raimondo repealed the order that specifically referred to New Yorkers, and broadened it to include any out-of-state traveler entering Rhode Island with intent to stay.[55] Partnering with CVS, the nation's largest pharmacy chain, her state achieved one of the nation's highest per capita levels of testing for COVID-19.
Approval ratings
Between assuming office and the end of 2019, Raimondo consistently ranked toward the bottom of approval ratings for U.S. governors.[56] But her approvals rose significantly during the COVID-19 pandemic.[18] State-by-state polling by Microsoft News in April 2020 found that 76% of Rhode Islanders said they approved of the work Raimondo and her administration did "to keep people safe" during the ongoing crisis.[57] This result meant that she was tied with the governors of North Dakota and Utah for the 12th-highest rating.[58]
Statewide computer system rollout controversy
A widely criticized rollout of a new computer network system for the Rhode Island Executive Office of Health and Human Services dubbed the "Unified Health Infrastructure Project" (UHIP) in September 2016 saw scores of people without access to government programs such as food stamps and child care due to glitches in the software, designed by Deloitte.[59] This computer crash created a backlog of more than 20,000 cases.[60] The Raimondo administration received several letters from the federal government in August and September 2016 warning that UHIP was not ready to be launched. On Raimondo's orders, the UHIP launch occurred as planned despite these warnings.
In response, U.S. Food and Nutrition Service's Northeast Regional Administrator Kurt Messner urged Raimondo to postpone the launch because it would interrupt or interfere with benefits the agency oversees. Messner said in his letter, which local news outlets called "strongly-worded", that "the transition plan remains inadequate and unacceptable." He also wrote that the state had not launched UHIP in phases or administered a live pilot test. "Launching a system without having conducted a live pilot is against the intent of the regulations and against our best advice", Messner wrote. The Raimondo administration ignored the warnings, resulting in benefit delays, system downtime, and benefit loss caused in error.[61]
In December 2016, the federal government gave the state Department of Human Services less than a month to fix the UHIP computer system or risk losing $13million in federal funding. Federal officials judged that the state was not compliant in lowering a significant case backlog, starting a sufficient call-center, adequate staff training, and improving wait times at Health and Human Services field offices.[62] In February 2017, Executive Secretary of Health and Human Services Elizabeth H. Roberts resigned from her cabinet post in the Raimondo administration[63] due to the failed roll-out of the UHIP.[63]
In March 2017, Rhode Island Monthly reported that the U.S. Department of Justice had opened an investigation into UHIP, specifically false claims and statements made about the Health and Human Services computer network rollout. The investigation was still underway as of summer 2017. In an interview, House Oversight Chair Patricia Serpa said: "There's plenty of blame to go around. The auditor's report found that [the contract with Deloitte] was poorly written, poorly overseen and poorly executed. They were warned against the implementation because the system was not ready. Not only did they implement it, they displaced all of the most senior workers with the wealth of experience. We pulled all the plugs to make sure this was a failure."[64]
According to documents submitted to the federal government, the cost estimate for UHIP through 2021 was $656million. State taxpayers would pay $154million of this and the federal government the remainder.[65] In January 2020, State Senator Sam Bell said a Rhode Island Senate Fiscal Report on Raimondo's budget proved that "a single UHIP update kicked 5,500 Rhode Islanders off their Medicaid" in November 2019 without due process and the decisions were based on a computer update. Bell added: "Medicaid terminations need to be done with some due process. They should not come from a notoriously glitchy computer system. You should have a chance to fight the decision to rip away your health insurance. When you lose your Medicaid with no warning and no effort to transition you onto the exchange, the consequences can be deadly."[66]
DCYF controversies
Under Raimondo, the Rhode Island Department of Children, Youth & Families (DCYF) had come under fire for the rate of deaths and near-deaths of children in its care.[67] In a period between January 2016 and December 2017, there were 31 fatalities or near fatalities of children in its care, with eight being confirmed fatal.[67] Raimondo appointed Trista Piccola as her new DCYF director in January 2017. Piccola's term was marked by the death and near-deaths of children,[67] high staff turnover,[68] votes of no confidence,[69] and high budget deficits.[70] Rep. Patricia Serpa and Rep. Charlene Lima called for Piccola's resignation, which finally occurred in July 2019.[71][72][73]
With Piccola's departure, the interim director is DCYF executive legal counsel Kevin Aucoin.[76] Aucoin has served in an interim director capacity twice before when DCYF was without a permanent director. Secretary of the Rhode Island Executive Office of Health and Human Services and Raimondo cabinet member Womazetta Jones said in December 2019 that she was "very determined to stay the course of not hiring anybody unless it's the right person". As of December 2020 DCYF does not have a permanent director.[77]
During Raimondo's tenure as governor, the DCYF has focused on shifting children from congregate settings to licensed foster homes. DCYF has increased its capacity and utilization of licensed foster homes, including an increase in the number of licensed kinship families, from 280 in October 2019 to 576 in June 2020. As of December 2020, 83% of all children placed in out-of-home care are placed in a foster home. Since 2015, the department's intensive reforms have resulted in a 43% reduction in the number of youth placed in congregate care and a 39% reduction in the number of youth placed in out-of-state congregate care. At the same time, the department has increased the number of children placed in licensed foster family homes.[78]
National politics
In early February 2020, Raimondo appeared alongside former Republican New York City Mayor and Democratic presidential hopeful Michael Bloomberg at the Wexford Innovation Center in Providence to endorse his candidacy, a move she described as "an easy call".[9] Raimondo was named a national co-chair for the Bloomberg campaign.
Press secretary Jennifer Bogdan Jones of the Governor's Office told The Providence Journal that Raimondo "is prepared to do whatever it takes to support Mike and defeat President Trump."[79] As campaign co-chair, Raimondo would have "provided advice and attended events". Less than a month later, Bloomberg dropped out of the race and endorsed former Vice President Joe Biden.[80] On the same day, Raimondo also endorsed Biden. She said Bloomberg "obviously" performed poorly on the debate stage but supporting his candidacy "was an easy decision for me at the beginning. But [supporting Biden] is an easy decision, too." Raimondo concluded that it was now time "to unify behind Joe Biden".[81]
On January 7, 2021, Biden announced he would nominate Raimondo to serve as Secretary of Commerce.[85] She appeared before the Senate Committee on Commerce, Science and Transportation on January 26.[86] On March 1, the Senate voted 84–15 in favor of cloture on the nomination, and confirmed Raimondo to the position the following day by a vote of 84–15.[87]
Tenure
Vice President Kamala Harris swears in Gina Raimondo as Secretary of Commerce Wednesday, March 3, 2021.
Raimondo's approach has drawn praise from centrists, with a Washington Post opinion article praising her as a "technocratic moderate in a moment when her party’s loudest voices are woke, populist and a step or two to her left".[90] In office, Raimondo has been noted for her willingness to work with corporate executives, and was described by Axios as "Tech's Favorite Biden Official".[91]Time called her the federal government's "point woman on AI" policy.[92] An analysis of Raimondo's schedule in office found that she held at least 101 meetings with representatives from Wall Street firms in her first two years in office.[93]
In 2022, Raimondo was rumored to be a potential candidate to succeed Janet Yellen as Secretary of the Treasury in the aftermath of that year's midterms.[94][95][96] This speculation attracted criticism from some progressives due to her status as a political moderate.[97] Senator Elizabeth Warren told The New York Times that she had "real concerns about the department's approach, whether it's approving assault weapon sales, negotiating trade deals or supporting big tech companies".[98]
During Raimondo's tenure, the Department of Commerce sanctioned NSO Group for selling spyware technology.[99] As secretary of commerce, Raimondo has worked with other administration officials, such as Secretary of Homeland Security Alejandro Mayorkas, on coordinating cybersecurity policy.[100] In March 2021, she issued subpoenas to several China-based telecommunications firms, arguing that "unrestricted use of untrusted ICTS poses a national security risk". Raimondo has been a co-chair of the Trade and Technology Council since its creation in 2021.[101]
According to Axios, "Raimondo has become the [tech] industry's key advocate within the Biden administration".[102] She has been criticized by some progressives for opposing the European Commission's Digital Markets Act (DMA) proposal.[102][103] In December 2021, Raimondo voiced concern that the DMA would unfairly impact U.S.-based tech companies such as Google and Apple. An analysis of her calendar found that, during her first two years in office, she had met with twice as many executives and lobbyists from Big Tech companies as her predecessor, Wilbur Ross, had during his four-year term in office.[93]
During a luncheon hosted by the Chamber of Commerce, she argued the DMA "disproportionately impact[s] US-based tech firms". She was criticized by Senator Elizabeth Warren, who argued that her comments contradicted the Biden administration's efforts "to protect consumers and workers from Big Tech monopolies".[104] In March 2022, Warren accused Raimondo of "lobbying on behalf of Big Tech".[105]
On September 25, 2024, Raimondo faced backlash after saying on MSNBC's "Morning Joe" of former president Donald Trump, "Let's extinguish him for good". Someone had tried to assassinate Trump less than two weeks earlier.[106][107]
Raimondo spoke at a convening of the International Network of AI Safety Institutes in San Francisco on November 20, 2024. The attendees included Australia, Canada, Japan, the United Kingdom, and the European Union. Raimondo brought up the existential risk from artificial intelligence in her speech, and asked "Why would we choose to allow AI to replace us? Why would we choose to allow the deployment of AI that will cause widespread unemployment and societal disruption that goes along with it?".[108][109]
Chip policy
As secretary of commerce, Raimondo has helped lead the U.S. response to the global chip shortage and has urged Congress to pass legislation to boost domestic semiconductor manufacturing.[110][111] She has argued that the chip shortage presents a national and economic security threat to U.S. interests.[112] Raimondo was criticized in an opinion piece published in The Hill for using CHIPS funding for DEI initiatives, specifically chip-making training programs at historically black colleges and universities.[113] As secretary of commerce, Raimondo has advanced rules to prevent companies like Nvidia from exporting advanced AI chip technologies to China.[114]
In July 2023, it was reported that Raimondo's government email account was hacked in a breach that originated in China.[115][116]
In September 2021, Raimondo accused China of violating the intellectual property (IP) rights of U.S. companies, and said that the Chinese government had put in place "all kinds of different barriers for American companies to do business in China."[117] In October 2021, Senator Tom Cotton criticized her for saying "there's no point in talking about decoupling our economy from China's".[118]
Following the 2022 Russian invasion of Ukraine, the Department of Commerce under Raimondo implemented export controls in order to restrict Russia's access to military technology.[119] In March 2022, Raimondo said that Chinese companies attempting to sell semiconductor technology to Russia in violation of U.S. sanctions would face repercussions.[120]
From August 27 to 30, 2023, Raimondo visited China, where she met minister of culture and tourism Hu Heping, minister of commerce Wang Wentao, vice premier He Lifeng, and premier Li Qiang.[121] She also visited Shanghai, where she met with Shanghai Communist Party secretary Chen Jining and visited Shanghai Disneyland.[122] During the meeting, the two sides announced a working group on commercial issues and an export control enforcement "information exchange" dialogue.[123] During an October 2023 trip to Abu Dhabi, she raised concerns about G42's ties to China.[124]
On March 11, 2024, on the United States Presidential Trade Mission to the Philippines, Raimondo met Alfredo E. Pascual and Assistant to the President for Investment and Economic Affairs Frederick Go at Solaire Resort & Casino and said, "On this trip alone, these 22 company heads in the delegation are announcing over $1 billion of U.S. investments, including educational [and training] opportunities to over 30 million Filipinos in the form of digital upskilling, artificial intelligence upskilling, and digital training."[125]
Response to port strike
On October 1, 2024, the International Longshoremen's Association struck 37 ports in the eastern and south central U.S., curtailing import and export activity between the U.S. and its trade partners. Raimondo was criticized for an interview the previous day on CNBC's Squawk Box in which she acknowledged that the strike "could be very disruptive to commerce" but said she was not focused on the issue and "not particularly involved", referring questions to the White House and Transportation Secretary.[126]
Electoral history
2010 General Treasurer election
2010 Rhode Island General Treasurer Election[127][128]
On December 1, 2001, Raimondo married Andrew Kind Moffit, in Providence.[133] The couple have two children. The family resides on the east side of Providence. Raimondo is a practicing Catholic and was one of the first girls to graduate from the La Salle Academy, a Catholic school in Providence.[134][21]
Raimondo serves as vice chair of the board of directors of Crossroads Rhode Island, the state's largest homeless services organization. Until 2011, she was an administrator of Women and Infants Hospital and chair of its Quality Committee. She has served on the boards of La Salle Academy and Family Service of Rhode Island.[136]
^Marcello, Philip (April 18, 2012). "'Payday' loan rates assailed". The Providence Journal. Archived from the original on April 14, 2018. Retrieved December 5, 2012.
^Wren, Adam (May 17, 2022). "'I talk to CEOs constantly': Gina Raimondo is corporate America's best friend in the White House". Business Insider. Retrieved August 24, 2024. Axios has called her "Tech's Favorite Biden Official." In December, at a US Chamber of Commerce luncheon, Raimondo criticized the European Union for trying to rein in tech monopolies, complaining that such efforts would "disproportionately impact US-based tech firms.
.jpg)
.jpg)
.jpg)
.jpg)
