On January 2, President-Elect Donald Trump selected Ken Kies as his nominee for assistant secretary of the treasury for tax policy. Pending U.S. Senate confirmation, Kies will oversee the analysis, development, and execution of federal tax policies and programs.
His responsibilities would include leading efforts to extend expiring tax cuts from the Tax Cuts and Jobs Act of 2017 (TCJA) and crafting new tax legislation affecting both individuals and businesses.
With over 40 years of experience as a tax lobbyist, former Republican congressional staffer on the House Ways and Means Committee, and a former chief of staff on the Joint Committee on Taxation, Kies is widely regarded as a highly qualified choice for this key role. He will be integral in negotiating tax-related legislation this year, especially as the deadline approaches for the expiration of several TCJA tax breaks at the end of 2025.
Overall, Kies brings deep expertise in tax policy, honed through his roles in both the House Ways and Means Committee and the Joint Committee on Taxation. Similar to other appointments, such as Scott Bessent’s nomination for treasury secretary by Trump last November, Kies will need Senate confirmation through a hearing by the Senate Finance Committee to assess his qualifications. The timing of this hearing is still to be determined.
Kies’ selection is significant, particularly in the context of anticipated tax code revisions later this year. He is a prominent figure in Washington, D.C.’s tax policy circles, known for his past criticisms of the credit union tax exemption. He has argued that credit unions, which do not pay federal corporate income taxes, present a competitive challenge to the banking sector.
He has also advised the American Bankers Association (ABA) on these issues and previously suggested that the tax exemption for credit unions — a benefit afforded to their not-for-profit status — should be reevaluated as credit unions grow to mirror large financial institutions (banks).
“As Mr. Kies prepares to take on this pivotal role, we look forward to educating members of Congress and key regulators on the importance of maintaining credit unions’ current tax-exempt status,” said Stephanie Cuevas, senior vice president of federal government affairs for the California and Nevada Credit Union Leagues. “Across the United States, credit unions serve over 140 million people and deliver $35.9 billion in benefits to consumers. A tax on credit unions is a tax on consumers, and that’s the story we’re going to passionately share.”
