Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows
CEA nominee Dr. Myron outlines reindustrialization agenda: deregulation, tax cuts, tariffs and workforce scaling
Loading...
Summary
Dr. Steven Myron, President Trump’s nominee to lead the Council of Economic Advisers, told the Senate panel he would push policies to reindustrialize the U.S. economy: cutting regulations, lowering taxes, using targeted tariffs, investing in workforce development and directing procurement and R&D toward defense‑relevant industries.
Dr. Steven Myron, President Trump’s nominee to chair the Council of Economic Advisers, told the Senate Banking Committee on Feb. 19 that his economic agenda would focus on reindustrializing the United States and restoring manufacturing capacity.
Myron described five priorities: ‘‘slash regulations’’ that slow or raise costs to build and hire; continue tax reforms so workers and proprietors keep more income; use targeted tariffs to correct distortions and protect domestic industry; invest in scaling the workforce for modern manufacturing; and use defense‑driven industrial policy — directing procurement and R&D budgets toward strategic industries.
Myron framed the agenda as a response to what he called long‑term manufacturing decline and disruption from unfair foreign practices. “Our ability to import would become limited should a war or even something like an epidemic break out,” Myron testified, arguing that rebuilding domestic manufacturing is both an economic and national security priority.
On the matter of historic stimulus and inflation, Myron acknowledged that early COVID‑era stimulus packages were appropriate at the time but said later packages were too large given a narrowed output gap and that a ‘‘lean against the wind’’ approach should guide policy: provide stimulus when the economy is weak and restrain it when the economy overheats.
Myron praised opportunity zones as a tool to spur development in low‑income areas and suggested expanding their use as one element of addressing housing affordability. He framed his role at CEA as giving the president data‑driven advice and welcomed input from senators and stakeholders.
The nominee emphasized market discipline and practical experience; he described a career that included Ph.D. studies and work in currency markets and said policy proposals should be grounded in real‑world effects on constituents.
Senators briefly questioned him on inflation and the interplay of regulation and housing supply, and Myron reiterated his five‑part framework for promoting U.S. industry and employment.
