Howard Lutnick

Secretary of Commerce

Department of Commerce

Who Does This Official Serve?

Industry Insider

Prior Industry: Cantor Fitzgerald / BGC Group (Wall Street)

Wall Street billionaire and CEO of major financial firms. Simultaneously chaired Trump transition team while being nominated — directly selecting the administration he would serve in.

Appointed

January 20, 2025

1 year, 6 months in office

Confirmation Vote

53-46

Conflict Risk

High

(24 pts)

3 conflicts identified

🔄Revolving Door Analysis

Industry Insider

Prior Industry: Cantor Fitzgerald / BGC Group (Wall Street)

Wall Street billionaire and CEO of major financial firms. Simultaneously chaired Trump transition team while being nominated — directly selecting the administration he would serve in.

⚠️ Conflicts of Interest (3)

conflict(1)

Critical

Led Trump transition while being nominated for cabinet position

💰 Financial(1)

High

Extensive Wall Street and financial industry ties

🏢 Corporate(1)

High

Cantor Fitzgerald business interests overlap with Commerce Department policies

Career Path

🔄 Revolving Door

Direct revolving doorLobbying / Media backgroundCareer public servant

CEO

Cantor Fitzgerald

1991-present

Wall Street billionaire and CEO of major financial firms. Simultaneously chaired Trump transition team while being nominated — directly selecting the administration he would serve in.

CEO

BGC Group

1999-present

Chair

Trump 2024 Transition Team

2024-2025

Now Serving As

Secretary of Commerce

Department of Commerce

2025–Present

Policy Positions

Tariffs

Strong supporter of Trump tariff policies

China

Hawkish on trade and competition

Cryptocurrency

Advocate for crypto-friendly policies

Regulation

Pro-business deregulation

💰 Agency Budget — FY2026

Source: USASpending.gov

$50.2B

Budget Authority

$4.7B

Obligated

0.4%

of Federal Budget

Department of Commerce0.38% of total

Top Contract Awards (FY2023–2026)

L3HARRIS TECHNOLOGIES, INC.

THE PURPOSE OF THIS CONTRACT IS TO DEVELOP THE GROUND SYSTEM THAT WILL SUPPORT NOAA S NEXT GENERATION GEOSTATIONARY SATELLITE SERIES, GOES-R. THIS NEW SERIES OF SPACECRAFT, SET TO BEGIN LAUNCHING IN 2015, IS EXPECTED TO DOUBLE THE CLARITY OF TODAY S SATELLITE IMAGERY AND PROVIDE AT LEAST 20 TIMES MORE ATMOSPHERIC OBSERVATIONS FROM SPACE. THE CONTRACTOR IS TO DESIGN, DEVELOP, TEST AND IMPLEMENT THE GOES-R GROUND SYSTEM. THE GROUND SYSTEM WILL CAPTURE DATA FROM THE GOES-R SATELLITES, AND PROCESS AND DISTRIBUTE THE INFORMATION TO OPERATIONAL USERS.

$1.8B

T-REX SOLUTIONS LLC

ENTERPRISE SOLUTIONS FRAMEWORK (ESF) FOR MULTI-TIERED ACQUISITION FRAMEWORK FOR SYSTEMS ENGINEERING AND INTEGRATION - PROGRAM TIER WORK ORDER 003 - 2020 CENSUS TECHNICAL INTEGRATOR

$1.5B

MAXIMUS FEDERAL SERVICES, INC.

2020 CENSUS QUESTIONNAIRE ASSISTANCE (2020 CQA)

$918M

About Department of Commerce

The Department of Commerce promotes economic growth, job creation, international trade, and technological innovation.

Federal Budget & Awards

FY 2023-2025 • Source: USASpending.gov

Last updated 7/27/2026

Latest FY Obligations

$25.2B

Contracts (Top Awards)

$5.1B

Grants (Top Awards)

$31.5B

Largest Program Funding Changes

Broadband Equity, Access, and Deployment Program, National Telecommunications and Information Administration, Commerce

-$7,499,363,882

Operations, Research and Facilities, National Oceanic and Atmospheric Administration, Commerce

-$1,187,739,437

Digital Equity, National Telecommunications and Information Administration, Commerce

+$715.8M

Salaries and Expenses, National Telecommunications and Information Administration, Commerce

+$672.8M

Procurement, Acquisition and Construction, National Oceanic and Atmospheric Administration, Commerce

-$488,218,144

Top Contract & Grant Awards

TEXAS COMPTROLLER OF PUBLIC ACCOUNTS

PROJECT GRANT (B)

$3.3B

CALIFORNIA PUBLIC UTILITIES COMMISSION

PROJECT GRANT (B)

$1.9B

L3HARRIS TECHNOLOGIES, INC.

Unknown

$1.8B

MICHIGAN DEPARTMENT OF LABOR AND ECONOMIC OPPORTUNITY

PROJECT GRANT (B)

$1.6B

DEPARTMENT OF INFORMATION TECHNOLOGY

PROJECT GRANT (B)

$1.5B

HOUSING & COMMUNITY DEVELOPMENT VIRGINIA DEPARTMENT OF

PROJECT GRANT (B)

$1.5B

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