Biden Requests Campaign Donor To Lead Powerful Commission

Just weeks after cohosting a fundraiser for Biden’s reelection campaign, President Joe Biden appointed a significant campaign supporter and hedge fund entrepreneur to head a key Treasury Department committee.

Orin Kramer, creator of Boston Provident, was named Thursday by Biden’s Treasury Department as the chair of the Commission on Social Impact Partnerships, which helps direct millions in federal funding to state and local governments.

Kramer cohosted a “Broadway for Biden” fundraiser in September, including performances by Josh Groban, Lin-Manuel Miranda, Sara Bareilles, and Sara Bareilles; thus, this decision comes just under two months after that event. Kramer gave approximately $500,000 to the Democratic presidential campaigns of Joe Biden and worked as a bundler for his 2020 campaign.

With some in his party turning against him, Biden’s choice to nominate Kramer as commission chair—a position only the president can fill—suggests the Democrat rewards major contributors who back his reelection quest.

Democratic Minnesota congressman Dean Phillips threw his hat into a primary run against Biden, portraying the elderly incumbent as incapable of defeating former president Donald Trump. Joe Manchin is also contemplating a third-party candidacy for president.

Kramer—who in 1992 started Boston Provident, a hedge fund business he oversees to this day—began fundraising for Biden in March 2020 after initially campaigning to elect former South Bend mayor Pete Buttigieg (D.). Kramer is classified as a Biden campaign bundler, which means he raised at least $100,000 for the Democrat. It is unknown how much Kramer raised for the president.

In 2020, Kramer donated $350,000 to Biden’s joint fundraising committee. Kramer has given more than $100,000 to the Democrat’s reelection campaign, including the funds raised in September.

With Kramer at the helm, the Commission on Social Impact Partnerships will advise Treasury Secretary Janet Yellen on allocating federal funds to state and local governments through the Social Impact Partnership to Pay for Results Act.

The appointment of one of Biden’s top fundraisers to a government job is not unprecedented.

In September 2022, Biden chose environmental activist Monica Medina, wife of former White House chief of staff Ron Klain, to serve as U.S. Special Envoy on Biodiversity and Water Resources. Elizabeth Hirsh Naftali, a notable liberal contributor and art shopper for Hunter Biden, was appointed by Biden to the Commission for the Preservation of America’s Heritage Abroad, responsible for protecting American cultural landmarks in Europe.