Biden Aides Working on Proposal for US Sovereign Wealth Fund
- White House plans similar to investment pool floated by Trump
- Jake Sullivan among aides crafting proposal in recent months
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Top aides to President Joe Biden have been crafting a proposal to create a sovereign wealth fund that would allow the US to invest in national security interests including technology, energy, and critical links in the supply chain, according to people familiar with the effort.
The behind-the-scenes work by National Security Advisor Jake Sullivan and his deputy, Daleep Singh, mirrors — at least in spirit — a proposal floated Thursday by Republican presidential candidate Donald Trump, who called for a government-owned investment fund to finance “great national endeavors” during a speech to the Economic Club of New York.