Trump Appoints Key Architect of Opportunity Zones to Lead WH National Economic Council

This important appointment completes the economic wing in President-elect Trump’s cabinet.

 

Kevin A. Hassett of Massachusetts has been appointed as Director of the White House National Economic Council. Kevin Hassett, my Chair of the Council of Economic Advisers played a vital role in the design and passage of the Tax Cuts and Jobs Act of 2017. He also stood by me as we pursued the agenda of Make America Great Again. He will be a key player in helping American families recover after the Inflation unleashed by Biden’s Administration. Together we will improve and renew our Tax Cuts and ensure Fair Trade with Countries who have taken advantage of us in the past. Kevin will play a major role in strengthening our economic relationships with allies, both old and new, as well as ensuring prosperity for the American people.

 

Hassett was a member of the bipartisan team in 2015 that developed the concept of Opportunity Zones. Hassett and Jared Bernstein – economist and advisor to the then-VP Joe Biden – drafted a paper that was the basis for this community investment program, championed Sen. Tim Scott.

 

The Opportunity Zone (OZ) program is a community investment tool created by Congress as part of the Tax Cuts and Jobs Act of 2017 which was signed into law on 22 December 2017. The OZ program aims to encourage long-term equity investment in low income and economically depressed areas. The program is currently active, but legislative details will be finalized with the help of private industry advocates.

 

 

There’s more great news about Opportunity Zones.

 

Kevin Hassett has been appointed as Director of the White House National Economic Council by President-elect Trump.

 

Hassett was one of the first architects to come up with the idea for Opportunity Zones.

 

In 2015, he was a co-author of a groundbreaking paper bipartisan that proposed a model for attracting private investments into distressed communities. This vision became a reality when the Tax Cuts and Jobs Act 2017 created Opportunity Zones.

 

Hassett is a former chairman of the Council of Economic Advisers and a top economist. He has unmatched experience in tax policy, economic growth and other areas.

 

His return to White House signifies a renewed emphasis on revitalizing distressed regions through targeted, market driven policies.

 

The appointment of Hassett to lead the economic strategy in the White House is a further indication of the administration’s support for Opportunity Zones. This will increase optimism about the program’s expansion and extension. Hassett’s return to the White House as the economic strategist increased the chances of a program extension and expansion.

 

 

Hassett’s domestic economic policy will reinforce Trump’s focus to revitalize the American economy, and make inroads in reinvigorating American cities and towns in line with Trump’s Agenda 47:

 

I challenge all the governors in America to join me on a campaign of modernization and beautification. We will get rid of ugly structures, renovate our parks and public spaces, make cities and towns more liveable, ensure a clean environment and build towering monuments for our real American heroes.

 

Hassett served as a senior adviser in the first Trump Administration.

 

Kevin is the Brent R. Nicklas Distinguished Fellowship in Economics at Stanford University’s Hoover Institution, and Managing director at the Milken Institute. He was the 29th Chairman of Council of Economic Advisers from 2017 to 2019. In 2020, he returned to the White House to be my Senior Advisor.

 

Kevin, Kristie and their sons James and John are all winners.

 

Condoleezza rice, former Secretary State of State under George W. Bush and National Security Advisor, congratulated Hassett for X.

 

 

Kevin Hassett is a Hoover Distinguished Fellow and has been appointed Director of the National Economic Council by President Trump. Kevin Hassett is an economist of renown who brings to the role a wealth knowledge and experience. He will inform and coordinate policies that support a vibrant and strong economy. We are grateful to him for his willingness.