Justin Muzinich
{{Short description|American businessman and lawyer (born 1977)}}
{{Use mdy dates|date=August 2019}}
{{Infobox officeholder
| name = Justin Muzinich
| image = Justin Muzinich counselor.jpg
| office = 14th United States Deputy Secretary of the Treasury
| president = Donald Trump
| term_start = December 12, 2018
| term_end = January 20, 2021
| predecessor = Sarah Bloom Raskin
| successor = Wally Adeyemo
| birth_name = Justin George Muzinich
| birth_date = {{birth date and age|1977|11|5}}
| birth_place = New York City, U.S.
| death_date =
| death_place =
| spouse = Eloise Davis Austin
| education = {{no wrap|Harvard University (BA, MBA)}}
Yale University (JD)
}}
Justin George Muzinich ({{IPAc-en|m|uː|ˈ|z|ɛ|n|ˌ|ɪ|tʃ}} {{respell|moo|ZEH|nich}}, born November 5, 1977) is an American businessman and lawyer. He served as the United States Deputy Secretary of the Treasury, from December 2018 to January 2021, during the first Trump presidency.{{cite web |publisher=U.S. Department of the Treasury |title=Justin Muzinich |date=December 12, 2018 |access-date=December 18, 2018 |url=https://home.treasury.gov/about/general-information/officials/justin-muzinich |archive-date=December 19, 2018 |archive-url=https://web.archive.org/web/20181219134226/https://home.treasury.gov/about/general-information/officials/justin-muzinich |url-status=dead }} Previously, he was Counselor to the Secretary at the United States Department of the Treasury. Prior to that, he served as policy director for the Jeb Bush presidential campaign.
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.{{cite web |url=https://www.nytimes.com/2008/10/12/fashion/weddings/12austin.html|title=Eloise Austin, Justin Muzinich|work=The New York Times|date=October 1, 2008}}
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.{{cite news |last=Allen |first=Mike |date=March 12, 2017 |url=https://www.axios.com/mnuchin-hire-thrills-republicans-1513300897-b0f3a6ce-9fc5-47d9-a85f-b85bfe00807c.html |title=Mnuchin hire thrills Republicans|work=Axios}}{{cite web|url=https://trumpwhitehouse.archives.gov/presidential-actions/president-donald-j-trump-announces-intent-nominate-appoint-personnel-key-administration-posts-4/|work=whitehouse.gov|title=President Donald J. Trump Announces Intent to Nominate and Appoint Personnel to Key Administration Posts |via=National Archives|date=April 2, 2018}}{{cite news |last=Rappeport |first=Alan |date=October 28, 2017 |url=https://www.nytimes.com/2017/10/28/us/politics/the-little-known-pragmatist-who-is-shaping-the-trump-tax-cuts.html|title=The Little-Known Pragmatist Who Is Shaping the Trump Tax Cuts|work=The New York Times}}
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.{{cite news|last=Johnson|first=Eliana|date=March 12, 2015|title=Jeb Bush Set to Tap Policy Director|work=National Review|url=https://www.nationalreview.com/corner/jeb-bush-set-tap-policy-director-eliana-johnson/}}{{cite news|last=Harrison|first=David|date=April 2, 2018|title=Trump to Nominate Justin Muzinich to Deputy Treasury Secretary Post|work=The Wall Street Journal|url=https://www.wsj.com/articles/trump-to-nominate-justin-muzinich-to-deputy-treasury-secretary-post-1522709551}}{{cite news|last=Zargham|first=Mohammad|date=April 3, 2018|title=Trump to nominate Muzinich as Treasury deputy secretary: White House|work=Reuters|url=https://www.reuters.com/article/us-usa-trump-treasury/trump-to-nominate-muzinich-as-treasury-deputy-secretary-white-house-idUSKCN1H91Y9}}
Following his term as Deputy Secretary, Muzinich returned to Muzinich & Company. Muzinich currently serves as the CEO, and is a member of the Board of Owners.{{Cite web |title=Justin Muzinich |url=https://www.muzinich.com/people/justin-muzinich |access-date=2024-01-15 |website=www.muzinich.com |language=en}}
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. {{cite web |url=https://www.wsj.com/articles/trump-to-nominate-justin-muzinich-to-deputy-treasury-secretary-post-1522709551|title=Trump to Nominate Justin Muzinich to Deputy Treasury Secretary Post
|publisher=The Wall Street Journal|date=April 2, 2018}}
=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 rescue plan for the COVID-19 outbreak and the Administration’s 2017 Tax Cuts and Jobs Act.{{cite web |url=https://www.wsj.com/articles/treasurys-muzinich-wields-wall-street-skills-to-fight-economic-crisis-11586606400|title=Treasury's Muzinich Wields Wall Street Skills to Fight Economic Crisis|publisher=The Wall Street Journal|date=April 12, 2020}}{{cite web|date=April 4, 2020|title=Mnuchin's Unfilled Jobs Leave Treasury Stretched in Virus Crisis|url=https://www.bloomberg.com/news/articles/2020-04-04/mnuchin-s-empty-jobs-stretch-treasury-team-thin-in-global-crisis|publisher=Bloomberg}}
The New York Times reported that he kept a low public profile.{{cite web |url=https://www.nytimes.com/2017/10/28/us/politics/the-little-known-pragmatist-who-is-shaping-the-trump-tax-cuts.html|title=The Little-Known Pragmatist Who Is Shaping the Trump Tax Cuts|work=The New York Times|date=October 28, 2017}}
==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.{{cite news |last=Jagoda |first=Naomi |date=April 2, 2018 |url=https://thehill.com/policy/finance/381344-trump-names-nominee-to-be-deputy-treasury-secretary/ |title=Trump names nominee to be deputy Treasury secretary|work=The Hill}}{{Cite web|url=https://www.congress.gov/nomination/115th-congress/1803|title=PN1803 – Nomination of Justin George Muzinich for Department of the Treasury, 115th Congress (2017–2018)|date=2018-12-11|website=www.congress.gov|access-date=2018-12-16}}
==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.{{Cite news|last=Rappeport|first=Alan|url=https://www.nytimes.com/2018/12/11/us/politics/justin-muzinich-treasury-deputy-secretary.html|title=Senate Confirms Treasury Tax Law Architect as Deputy Secretary|date=2018-12-11|work=The New York Times|access-date=2020-02-07|language=en-US|issn=0362-4331}}
==CARES Act==
Muzinich helped draft and oversee the U.S. government's $2.2 trillion rescue plan for the COVID-19 outbreak.{{Cite news|url=https://www.reuters.com/article/us-health-coronavirus-usa-treasury-idUSKBN21I37Q|title=Architect of Trump tax cut may run $500 billion coronavirus loan program|date=2020-03-31|work=Reuters|access-date=2020-04-02|language=en}} The Wall Street Journal profiled his work on the CARES Act. {{cite news |last1=Davidson |first1=Kate |title=Treasury's Muzinich Wields Wall Street Skills to Fight Economic Crisis |url=https://www.wsj.com/articles/treasurys-muzinich-wields-wall-street-skills-to-fight-economic-crisis-11586606400 |publisher=Wall Street Journal |date=April 12, 2020}}
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.{{Cite web|last1=Elliott|first1=Justin|last2=DePillis|first2=Lydia|last3=Faturechi|first3=Robert|title=This Treasury Official Is Running the Bailout. It's Been Great for His Family.|url=https://www.propublica.org/article/this-treasury-official-is-running-the-bailout-its-been-great-for-his-family|access-date=2020-06-02|website=ProPublica|date=June 2, 2020 |language=en}}
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.[https://www.bloomberg.com/research/stocks/private/person.asp?personId=60449222&privcapId=3546972&previousCapId=3546972&previousTitle=Muzinich%20&%20Co.,%20Inc. Bloomberg Executive Profile: Justin George Muzinich J.D.][http://www.nyp.org/about-us/governance-and-leadership/board-of-trustees Trustees at NewYork-Presbyterian – NYP.org] {{cite web |title=Board of Directors |url=https://www.cfr.org/board-directors |website=Council on Foreign Relations |access-date=August 25, 2023}}
References
{{Reflist}}
External links
- {{C-SPAN|127810}}
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{{s-bef|before=Sarah Bloom Raskin}}
{{s-ttl|title=United States Deputy Secretary of the Treasury|years=2018–2021}}
{{s-aft|after=Wally Adeyemo}}
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{{DEFAULTSORT:Muzinich, Justin}}
Category:Harvard University alumni
Category:Harvard Business School alumni
Category:Yale Law School alumni
Category:United States Deputy Secretaries of the Treasury