President-elect Trump is completing the economic wing of his cabinet with this significant appointment.
I am very pleased to announce that Dr. Kevin A. Hassett, of Massachusetts will serve as the Director of the White House National Economic Council. As my Chair of the Council of Economic Advisers, Kevin played a crucial role in helping to design and pass the Tax Cuts and Jobs Act of 2017, and stood with me as we pursued our enormously successful agenda to Make America Great Again. He will play an important role in helping American families recover from the Inflation that was unleashed by the Biden Administration. Together, we will renew and improve our record Tax Cuts, and ensure that we have Fair Trade with Countries that have taken advantage of the United States in the past. Kevin will also play a key role strengthening our Economic relationships with Allies, new and old, while also securing Prosperity for the American People.
Hassett was part of the 2015 bipartisan team that created the concept of Opportunity Zones. Hassett, Jared Bernstein, economist and economic advisor to then-VP Joe Biden, and others drafted a white paper which was the genesis of this community investment program championed by Sen. Tim Scott (R-SC).
The Opportunity Zone (“OZ”) program is a new community investment tool established by Congress through the Tax Cuts and Jobs Act of 2017, signed into law on December 22, 2017. The OZ program was designed to incentivize long-term equity investments into low income and economically distressed areas. While the program is active today, legislative details are still being ironed out with input from private industry advocates.
More huge news for Opportunity Zones!
President-elect Trump has appointed Kevin Hassett as the Director of the White House National Economic Council.
Hassett is one of the original architects behind the Opportunity Zone concept.
In 2015, he co-authored a groundbreaking… pic.twitter.com/SQzppF1JtG
— Barrett Linburg (@DallasAptGP) November 27, 2024
More huge news for Opportunity Zones!
President-elect Trump has appointed Kevin Hassett as the Director of the White House National Economic Council.
Hassett is one of the original architects behind the Opportunity Zone concept.
In 2015, he co-authored a groundbreaking bipartisan paper that proposed a framework for attracting private investment into distressed communities—a vision that became reality with the creation of Opportunity Zones in the 2017 Tax Cuts and Jobs Act.
As a leading economist and former Chairman of the Council of Economic Advisers, Hassett brings unmatched expertise in tax policy and economic growth.
His return to the White House signals a renewed focus on revitalizing distressed areas through targeted, market-driven policies.
This appointment further solidifies the administration’s commitment to Opportunity Zones and raises optimism for the program’s extension and expansion. With Hassett back in the White House leading economic strategy, the odds of an extension and expansion of the OZ program went up again
So in terms of domestic economic policy, Hassett will help solidify Trump’s focus on revitalizing the American economy and making inroads to reinvigorate American cities and towns as outlined in Trump’s Agenda 47 platform:
I will challenge the governors of all 50 states to join me in a great modernization and beautification campaign—getting rid of ugly buildings, refurbishing our parks and our public spaces, making cities and towns more livable, ensuring a pristine environment, and building towering monuments to our true American heroes.
Hassett also served in the first Trump administration as a senior advisor.
Kevin is currently the Brent R. Nicklas Distinguished Fellow in Economics at the Hoover Institution at Stanford University, and Managing Director at the Milken Institute. He served as the 29th Chairman of the Council of Economic Advisers (2017-2019), and returned to the White House in 2020 to serve as my Senior Advisor.
Congratulations to Kevin, his wife Kristie, and their two sons, James and John.
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Ever gracious, Condoleezza Rice, former Secretary of State and National Security Adviser under George W. Bush, congratulated Hassett on X.
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Congratulations to Hoover Distinguished Fellow, Kevin Hassett, for being appointed by President Trump to serve as Director of the National Economic Council. Kevin is a renowned economist who brings a wealth of knowledge and experience to this role. He will help to inform and coordinate policies to support a strong and vibrant economy. We are all grateful for his willingness to serve.
