Trump Appoints Lobbyist Ken Kies: A Game Changer for Tax Policy?
Should both move forward, Kies will team up with Scott Bessent as Trump endeavors to extend the 2017 tax cuts that many argue disproportionately benefit the wealthy.
Late Thursday, the President-elect made a significant announcement: he has appointed a seasoned corporate lobbyist and longstanding Republican benefactor to the pivotal role of assistant secretary for tax policy at the Treasury Department. This move comes as GOP legislators gear up to draft yet another colossal financial windfall aimed at enriching the upper echelons of society and corporate giants.
Meet Ken Kies, the managing director of the Federal Policy Group, a lobbying powerhouse that recently signed on big names like Microsoft and the Cruise Lines International Association. With the potential for Trump and the incoming Republican Congress to slash corporate tax rates to a mere 15%, it’s estimated that Microsoft could pocket an astounding $4 billion annually in tax savings. That’s right – billions flowing from taxpayers to the wealthiest corporations!
Kies’ credentials are showcased on the Federal Policy Group’s website, boasting of his ability to deliver “significant legislative and regulatory results” for a clientele that includes major corporations and trade groups. This isn’t just a job; it’s a game of influence at the highest level.
His profile highlights pivotal efforts in lobbying for legislation that counters rulings against U.S. foreign sales, pushes back against harmful corporate tax shelter proposals, and even seeks to overturn regulations targeting multinational corporations. If he secures Senate confirmation, Kies will work directly with billionaire hedge fund manager Scott Bessent, who is poised to lead the Treasury Department. Together, they aim to resurrect and expand the controversial 2017 tax cuts that are set to expire soon.
Reports indicate that the GOP is strategizing to balance the staggering expenses of this proposed tax package through tariffs, slashing federal nutrition assistance, and imposing stricter work mandates on Medicaid recipients. Moreover, they’re looking to dismantle the Education Department, roll back clean energy initiatives, and restrict Medicare from covering obesity treatments.
In addition to Kies, Trump also announced the selection of Samantha Schwab as deputy chief of staff at the Treasury Department. Schwab is the granddaughter of billionaire investor Charles Schwab, who notably contributed $1 million to Trump’s inaugural fundraising committee.
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