WASHINGTON, D.C. – In his opening statement at today’s Senate Commerce Committee confirmation hearing for the U.S. Secretary of Commerce, Chairman Ted Cruz (R-Texas) reaffirmed his support for Howard Lutnick. Sen. Cruz discussed how Mr. Lutnick’s entrepreneurial experience will be valuable in guiding investments in emerging technology, bolstering America’s leadership in AI innovation and commercial space regulation, and expanding job opportunities across multiple industries.

Here are Sen. Cruz’s remarks as prepared for delivery:

“Good morning. The Senate Committee on Commerce, Science, and Transportation will come to order. 

“Today, we are considering the nomination of Howard Lutnick to be the next Secretary of Commerce. Mr. Lutnick, congratulations on this important nomination. I know there are many members of this committee that are interested in hearing from you today. 

“As Secretary of Commerce, Mr. Lutnick will be responsible not only for implementing major aspects of President Trump’s agenda, but also effectively and efficiently carrying out some of the most sweeping laws Congress has passed in the last few years, like the CHIPS and Science Act. Mr. Lutnick is well qualified to accomplish this mission.  

“Mr. Lutnick’s story embodies the American spirit of resilience and achievement. The son of a history professor and artist, Mr. Lutnick was born and raised in New York. He lost both of his parents by the time he was 18 and put himself through Haverford College, with the help of a generous scholarship from the school. Immediately after graduating, he started at Cantor Fitzgerald—one of the world’s leading financial services firms—becoming its chairman at just 35 years old.  

“On September 11, 2001, terrorists killed Mr. Lutnick’s brother, Gary, and 658 Cantor Fitzgerald employees, who were working on five floors in the North Tower of the World Trade Center.  It was the largest loss of life among any single organization. In the wake of that tragedy, Mr. Lutnick not only rebuilt the company, but grew it into a powerhouse, with operations in more than 60 offices in 20 countries and over 13,000 employees.  

“Mr. Lutnick has also given back in incredible ways. For five years following the 9/11 attacks, he ensured the families of the Cantor Fitzgerld employees who were killed received 25 percent of the company’s profits.  

“He still donates his time today as a member of the Board of Directors of the National September 11 Memorial and Museum. He also served on the board of Haverford College for over twenty years and made generous gifts to the school, including an athletic center, in honor of his brother and friend who died on 9/11, and an art gallery, in honor of his mother who was an artist.

“Over the next few years, the Department will be leading on key issues, such as export controls of emerging technologies, keeping the Gulf open for oil and gas exploration, expanding commercial access to mid-band spectrum, and ensuring America’s leadership in AI innovation and commercial space regulation, and helping lead the resurgence of manufacturing in America.  

“My home state of Texas, as well as the rest of the nation, will benefit from Mr. Lutnick’s leadership on all these fronts. I look forward to hearing from Mr. Lutnick on these and other topics." 

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