Trump to nominate Treasury official as new head of Small Business Administration

President TrumpDonald John TrumpTim Ryan expected to announce bid for presidency this week: report Kushner’s security clearance was denied due to concerns of foreign influence: report Morgan Ortagus named as new State Dept spokeswoman MORE on Thursday announced he will nominate Treasury official Jovita Carranza to lead the Small Business Administration (SBA), replacing outgoing leader Linda McMahonLinda Marie McMahonOn The Money: McMahon to step down as Small Business administrator | Trump defends reversing North Korea sanctions | White House touts progress in China trade talks | 2020 Dem Inslee releases his tax returns Trump says Linda McMahon will step down as Small Business administrator Trump plans press conference to address reports of McMahon SBA departure MORE.

“Jovita was a great Treasurer of the United States – and I look forward to her joining my Cabinet!” Trump tweeted.

Carranza is currently Treasurer of the United States, where she advises Treasury Secretary Steven MnuchinSteven Terner MnuchinDems formally ask for Trump’s tax returns On The Money — Presented by Job Creators Network — Dems formally ask for Trump tax returns | Trump’s reaction: ‘Is that all?’ | CEOs urge Trump to keep border open | House panel votes to boost spending 3B over two years CEOs urge Trump officials not to close southern border MORE, works with the Federal Reserve and oversees the department’s Office of Consumer Policy.


Carranza previously served as the deputy administrator to the SBA during George W. Bush’s presidency. She is the founder of JCR Group, a consulting firm for supply chain management operations.

Her nomination requires Senate confirmation.

Trump and McMahon announced last week that the former pro-wrestling executive would depart the administration, effective April 12, to take a job with a political group supporting the president’s reelection efforts.

McMahon, 70, joined the Trump administration from the outset in early 2017 and for two years oversaw efforts to spur small business growth.

She will now serve on the board at America First, a pro-Trump super PAC backing the president’s 2020 reelection bid.

Trump and McMahon knew each other previously from her time as CEO of WWE. McMahon helped found the company with her husband, Vince McMahon, and Trump has appeared at WWE events and was inducted into its Hall of Fame in 2013.

“The fact is that I’ve known her for a longtime,” Trump said of McMahon as he announced her departure at Mar-a-Lago in Florida. “I knew she was good, but I didn’t know she was that good. She’s been one of our all-time favorites.”

Updated at 8:40 p.m.

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