Trump Cabinet members actions and issues: on Corporations
Larry Kudlow:
In return for cash grants, US should have stake in airlines
Q: You are going to be taking equity stakes in the airlines? Is the government going to be an activist shareholder, wanting to tell these companies how to run their businesses?KUDLOW: I don't think we will be activist, but we are laying down some
conditions, as I think you know, no stock buybacks, no executive compensation increases, things of that sort. You're either for economic security or national security. You cannot run a country with a vibrant economy like ours without the
airline channels. I think, in return for direct cash grants, which is what the airlines have asked for, I see no reason why the American taxpayer shouldn't get a piece of the rock.
Q: Do you worry that some of this assistance has people making more money to stay home than they would be making on the job?
KUDLOW: We have to do whatever it takes to keep people going.
Source: Fox News Sunday interview of Trump Cabinet
Mar 29, 2020
Larry Kudlow:
We believe in supply side Laffer Curve
Q: What about Trump's tariffs on China?KUDLOW: Senator Rick Scott of Florida, very smart guy, made an interesting proposal. He said, look, why don't we take the tariffs from the China trade and turn those back to the taxpayers in the form of tax cuts?
Q: Isn't all that money going to shore up our farmers?
KUDLOW: We've got room to do that as well. Let's let people keep more of what they earn. Let's let them keep more of what they invest. That's the supply side of Laffer Curve. We believe in that.
Source: Fox News Sunday interview for 2019 Trump Cabinet
Aug 18, 2019
Betsy DeVos:
Served as chairman of investment firm The Windquest Group
Prior to her confirmation, DeVos served as chairman of The Windquest Group, an enterprise and investment management firm. In addition to her leadership in the education arena, DeVos has also served on the boards of numerous national & local charitable
and civic organizations, including the Kennedy Center for the Performing Arts, Kids Hope USA, ArtPrize, Mars Hill Bible Church and the Kendall College of Art and Design.She is married to entrepreneur, philanthropist and community activist Dick DeVos.
Source: ED.gov official website for Trump Cabinet biographies
Dec 31, 2018
Daniel Coats:
Pro-growth economic policies to put Americans back to work
Coats returned to the U.S. Senate in January 2011 to focus on reducing the national debt, promoting pro-growth economic policies to put Americans back to work, and protecting Americans from terrorist threats. He served on the Senate Select Committee
on Intelligence, as well as the Finance, Appropriations, and Joint Economic committees. He did not seek reelection in 2016 and retired from the Senate in January 2017.
Source: DNI.gov official website for Trump Cabinet biographies
Dec 31, 2018
Jeff Sessions:
Establishment conservative: opposed 2008 bank bailouts
Sessions was considered a conservative, though one allied with the "establishment" wing of the Republican Party and its Senate membership. He distinguished himself as a sharp critic of federal spending programs, and he strongly supported the tax cuts
enacted during the presidency of George W. Bush. He broke with the administration and party leadership, however, over the emergency stabilization, or "bailout," of leading banks in 2008, arguing that it was a violation of the separation of powers, and
he later voted against the Bush administration's economic stimulus programs.Sessions' relationship with Trump grew increasingly strained as the president criticized both his recusal from the Russia probe and his refusal to investigate Democrats,
especially Hillary Clinton. Trump's dissatisfaction led to growing speculation that Sessions would be fired, and, a day after the midterm elections in November 2018, the attorney general tendered his immediate resignation at the request of Trump.
Source: Britannica Encyclopedia for Trump Cabinet biographies
Dec 31, 2018
Linda McMahon:
Give entrepreneurs the tools they need to start & succeed
McMahon serves as the 25th Administrator of the Small Business Administration (SBA). As a member of President Trump's cabinet, she advocates on behalf of the 30 million small businesses in America. She leads a team of professionals dedicated to ensuring
entrepreneurs have the support and tools they need to start, grow and succeed in business, specifically through access to capital and federal contracting opportunities; counseling and mentorship; and financial assistance following declared disasters.
Source: SBA.gov official website for Trump Cabinet biographies
Dec 31, 2018
Linda McMahon:
Grew WWE from 13-person company to 800 employees worldwide
An entrepreneur and business executive herself, McMahon is the co-founder and former chief executive officer of WWE, based in Stamford, Connecticut.
She helped grow WWE from a 13-person regional operation to a publicly traded global enterprise with more than 800 employees in offices worldwide.
Source: SBA.gov official website for Trump Cabinet biographies
Dec 31, 2018
Mick Mulvaney:
Ran family real estate business & family restaurant
In addition to practicing law and opening his own firm, Mick also ran the family real estate business, started a small homebuilding company, and became a minority shareholder in a local family restaurant franchise.While in Congress, he served on the
Budget Committee, Joint Economic Committee, Small Business Committee, Financial Services Committee, and the Oversight and Government Reform Committee.
Source: OMB official website for Trump Cabinet biographies
Dec 31, 2018
Steve Mnuchin:
Partner at Goldman-Sachs; board member at three art museums
Prior to his confirmation he also served as Founder, Chairman, and Chief Executive Officer of Dune Capital Management. He founded OneWest Bank Group LLC and served as its Chairman and Chief Executive Officer until its sale to CIT Group Inc. Earlier in
his career, Secretary Mnuchin worked at The Goldman Sachs Group, Inc. where he was a Partner and served as Chief Information Officer. He has extensive experience in global financial markets and investments.
Secretary Mnuchin is committed to philanthropic activities and previously served as a Member of the Boards of the Museum of Contemporary Art Los Angeles (MOCA), the Whitney Museum of Art, the Hirshhorn Museum and Sculpture Garden on the Mall, the
UCLA Health System Board, the New York Presbyterian Hospital Board, and the Los Angeles Police Foundation. He was born and raised in New York City. Secretary Mnuchin holds a Bachelor's Degree from Yale University.
Source: Treasury.gov official website for Trump Cabinet biographies
Dec 31, 2018
Wilbur Ross:
55 years of investment banking and private equity experience
Secretary Ross is the principal voice of business in the Trump Administration, ensuring that U.S. entrepreneurs and businesses have the tools they need to create jobs and economic opportunity. Secretary Ross is the former Chairman and Chief Strategy
Officer of WL Ross & Co. LLC and has over 55 years of investment banking and private equity experience. He has restructured over $400 billion of assets in the manufacturing, credit card, electric utility, homebuilding, insurance, mortgage origination,
oil and gas, and trucking industries. Secretary Ross has been chairman or lead director of more than 100 companies operating in more than 20 different countries.
Named by Bloomberg Markets as one of the 50 most influential people in global finance, Secretary Ross is the only person elected to both the Private Equity Hall of Fame and the Turnaround Management Hall of Fame.
Source: Federal official website for Trump Cabinet biographies
Dec 31, 2018
Wilbur Ross:
Privatization adviser to New York City Mayor Rudy Giuliani
Secretary Ross previously served as privatization adviser to New York City Mayor Rudy Giuliani and was appointed by President Bill Clinton to the board of the U.S.-Russia Investment Fund. President Kim Dae-jung awarded Secretary Ross a medal for helping
South Korea during its financial crisis and, in November 2014, the Emperor of Japan awarded him the Order of the Rising Sun, Gold and Silver Star. As a philanthropist, Secretary Ross has served as Chairman of the Japan Society,
Trustee of the Brookings Institution and Chairman of its Economic Studies Council, International Counsel Member of the Mus‚e des Arts D‚coratifs in Paris, Trustee of the Blenheim Foundation, President of the American Friends of the Rene Magritte
Museum in Brussels and Director of the Palm Beach Civic Association. He also was an Advisory Board Member of Yale University School of Management.
Source: Federal official website for Trump Cabinet biographies
Dec 31, 2018
Elaine Chao:
Public-private partnerships for innovating on infrastructure
Chao said that her department is partnering with private industry to implement innovations like Hyperloop (which would enable airplane-speed travel for ground transportation) and high-speed rail.The key to these futuristic leaps in transportation and
infrastructure, said Chao, is to allow the private sector to invest and innovate. "The government doesn't have all the solutions, and we welcome responsible partners," she said. "Unfortunately, many of our states don't allow the private sector to invest
in infrastructure. But they can be very helpful in terms of partnerships. The reality is that we cannot fund $1.5 trillion in direct federal funding; it will increase the deficit dramatically and will squeeze out the private sector."
Chao dismissed
concerns that private partnerships could lead to a rise in cronyism. "Some people in Congress have a distrustful view of the private sector," she said. "The private sector should help to educate these lawmakers on public-private partnerships."
Source: Newsweek's Nicole Goodkind on 2018 Trump Cabinet
Sep 24, 2018
Elaine Chao:
Reform corporate tax code to reward offshore tax havens
Chao, notably, has been a key voice in promoting the Trump administration economic policies, including the historic rewrite of the tax code--a legislative accomplishment that is likely the pinnacle of McConnell's congressional career.
The reform shifted the corporate tax code to a territorial system, a move highly expected to reward firms that funnel earnings through offshore tax havens, such as the Cayman Islands or the Marshall Islands.
Source: The Intercept on 2018 Trump Cabinet
Feb 5, 2018
Wilbur Ross:
Alleviate corporate tax rate; small break for lower earners
Ross was asked whether the administration favors a tax reduction on the rich, a subject on which President Trump and other White House officials have provided ambiguous signals in recent days. "Let's see what really comes out" of Congress,
Ross responded. Congressional Republican plans have including income tax reductions for the highest bracket and other provisions that would be likely to provide net tax cuts for high earners in most tax packages.
The Trump administration's priorities in tax reform are to lower the corporate tax rate and to provide a "little bit of redistribution" for low-income earners, Commerce secretary
Wilbur Ross said. "More important is the corporate, and then a little bit of redistribution so that the people in the lower brackets get the real benefit," Ross said in an interview on CNBC, using a term that Republicans generally avoid.
Source: Washington Examiner on 2017 Trump Cabinet
Jul 22, 2017
Page last updated: Dec 03, 2021