Justin Muzinich

Justin George Muzinich (/muːˈzɛnˌɪtʃ/, moo-ZEH-nich, born November 5, 1977) is an American businessman and former Donald Trump administration official who served as the United States Deputy Secretary of the Treasury, from December 2018 to January 2021.[1] Muzinich previously served as the Counselor to the Secretary at the United States Department of the Treasury. Prior to that, he served as Policy Director for the Presidential Campaign of Jeb Bush.

Justin Muzinich
14th United States Deputy Secretary of the Treasury
In office
December 12, 2018 – January 20, 2021
PresidentDonald Trump
Preceded bySarah Bloom Raskin
Succeeded byWally Adeyemo
Personal details
Born
Justin George Muzinich

(1977-11-05) November 5, 1977
New York City
SpouseEloise Davis Austin
EducationHarvard University (BA, MBA)
Yale University (JD)

Early life and education

Muzinich was born to Camille Muzinich, a docent for the Metropolitan Museum of Art in New York City, and George Milan Muzinich, president of Muzinich & Company, a New York finance firm.[2]

After attending Groton School, Muzinich entered Harvard College where he graduated with a Bachelor of Arts degree magna cum laude and as a member of Phi Beta Kappa in 2000. He earned a Master of Business Administration degree from Harvard Business School in 2005 as a Baker Scholar, and a Juris Doctor degree from Yale Law School in 2007, where he was a John M. Olin Fellow.[3][4][5]

Business career

Prior to joining the Treasury department, Muzinich was previously employed at EMS Capital and at Morgan Stanley in the mergers and acquisitions group. He also served as president of Muzinich & Company, an international investment firm founded by his father. He has also taught at Columbia Business School from 2014 to 2016.[6][7][8]

Public sector

Jeb Bush campaign

Muzinich served as Policy Director for former Florida Governor Jeb Bush’s 2016 Presidential campaign. In this role, Muzinich oversaw a team that produced policy proposals for the campaign. Governor Bush later announced his public support of Muzinich’s 2018 nomination to Treasury. [9]

United States Treasury

Muzinich served as United States Deputy Secretary of the Treasury. In that role, Muzinich helped oversee the Department’s $2.2 trillion dollar rescue plan for the COVID-19 outbreak and the Administration’s 2017 Tax Cuts and Jobs Act.[10][11]

The New York Times reported that he kept a low public profile.[12]

Nomination

On March 13, 2018, President Donald Trump announced his intention to nominate Muzinich as the new United States Deputy Secretary of the Treasury, succeeding Sigal Mandelker. The United States Senate confirmed his nomination with a 55–44 vote.[13][14]

Tax Cuts and Jobs Act of 2017

Muzinich was an architect of the Administration's tax reform effort, ultimately resulting in the Tax Cuts and Jobs Act of 2017.[15]

CARES Act

Muzinich helped draft and oversee the U.S. government's $2.2 trillion rescue plan for the COVID-19 outbreak.[16] The Wall Street Journal profiled his work on the CARES Act. [17]

ProPublica reported in June 2020 that Muzinich transferred his ownership of at least $60 million in assets to his father who would be free to return them to Muzinich after he leaves government. The assets in question are shares in the company Muzinich & Co., which specializes in junk bonds. This firm was a beneficiary of a unprecedented decision by the Treasury and Federal Reserve to bail out the junk bond market as a response to the economic impact of the COVID-19 pandemic. Muzinich's actions had been disclosed to and approved by the Treasury Ethics Office and the Office of Government Ethics.[18]

Personal life

Muzinich married Eloise Davis Austin in 2008. He is a member of the Board of Trustees at NewYork–Presbyterian Hospital and the Board of Directors of the Council on Foreign Relations.[19][20] [21]

References
  1. "Justin Muzinich". U.S. Department of the Treasury. December 12, 2018. Archived from the original on December 19, 2018. Retrieved December 18, 2018.
  2. "Eloise Austin, Justin Muzinich". The New York Times. October 1, 2008.
  3. Allen, Mike (March 12, 2017). "Mnuchin hire thrills Republicans". Axios.
  4. "President Donald J. Trump Announces Intent to Nominate and Appoint Personnel to Key Administration Posts". whitehouse.gov. April 2, 2018 – via National Archives.
  5. Rappeport, Alan (October 28, 2017). "The Little-Known Pragmatist Who Is Shaping the Trump Tax Cuts". The New York Times.
  6. Johnson, Eliana (March 12, 2015). "Jeb Bush Set to Tap Policy Director". National Review.
  7. Harrison, David (April 2, 2018). "Trump to Nominate Justin Muzinich to Deputy Treasury Secretary Post". The Wall Street Journal.
  8. Zargham, Mohammad (April 3, 2018). "Trump to nominate Muzinich as Treasury deputy secretary: White House". Reuters.
  9. "Trump to Nominate Justin Muzinich to Deputy Treasury Secretary Post". The Wall Street Journal. April 2, 2018.
  10. "Treasury's Muzinich Wields Wall Street Skills to Fight Economic Crisis". The Wall Street Journal. April 12, 2020.
  11. "Mnuchin's Unfilled Jobs Leave Treasury Stretched in Virus Crisis". Bloomberg. April 4, 2020.
  12. "The Little-Known Pragmatist Who Is Shaping the Trump Tax Cuts". The New York Times. October 28, 2017.
  13. Jagoda, Naomi (April 2, 2018). "Trump names nominee to be deputy Treasury secretary". The Hill.
  14. "PN1803 – Nomination of Justin George Muzinich for Department of the Treasury, 115th Congress (2017–2018)". www.congress.gov. December 11, 2018. Retrieved December 16, 2018.
  15. Rappeport, Alan (December 11, 2018). "Senate Confirms Treasury Tax Law Architect as Deputy Secretary". The New York Times. ISSN 0362-4331. Retrieved February 7, 2020.
  16. "Architect of Trump tax cut may run $500 billion coronavirus loan program". Reuters. March 31, 2020. Retrieved April 2, 2020.
  17. Davidson, Kate (April 12, 2020). "Treasury's Muzinich Wields Wall Street Skills to Fight Economic Crisis". Wall Street Journal.
  18. Elliott, Justin; DePillis, Lydia; Faturechi, Robert (June 2, 2020). "This Treasury Official Is Running the Bailout. It's Been Great for His Family". ProPublica. Retrieved June 2, 2020.
  19. Bloomberg Executive Profile: Justin George Muzinich J.D.
  20. Trustees at NewYork-Presbyterian – NYP.org
  21. "Board of Directors". Council on Foreign Relations. Retrieved August 25, 2023.
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