On May 10, 2023, Americans for Tax Reform organized a coalition letter to the U.S. Senate Committee on Banking, Housing, and Urban Affairs urging the committee to oppose Dr. Jared Bernstein’s nomination to be President Biden’s Chairman of the Council of Economic Advisers (CEA).
The letter briefly notes all the reasons why Bernstein is not qualified for the position. Specifically, the coalition opposes Bernstein’s nomination because he has downplayed the effect of inflation on American consumers, advocated for significant tax hikes, supported big government spending in the so-called “Inflation Reduction Act,” and advocated for government subsidies to prop-up Green New Deal policies that discriminate against fossil fuels and distort the U.S. energy market.
Next the letter presents clear bullets that demonstrate why Bernstein’s track record should disqualify him:
He facilitated the idea that inflation would be “transitory,” which tells the world that he does not understand what causes inflation and therefore how to reduce it (e.g., spending reform). He has advocated for a higher federal gas tax, which he says is a “carbon tax.” He has supported a potentially unconstitutional wealth tax and additional Internal Revenue Service (IRS) enforcement funding. He has supported a financial transaction tax (FTT). He has supported raising taxes on private fund advisers even though it could slow investment in new housing in states like Arizona. He has supported government intervention in the U.S. energy market via the Green New Deal.”
The letter ends with the conclusion that Bernstein is a far-left progressive who will promote partisan policies to the detriment of taxpayers and small-businesses. His nomination should be rejected.
Read the full letter here.