President Trump will nominate Treasury Department official Justin Muzinich to move up to the number two position at the department, the White House announced Monday evening.
The move will place an important player in the development of the new tax law in the position of deputy secretary of the Treasury, a post that has gone unfilled under Trump and is second only to that of Secretary Steven Mnuchin.
Muzinich has served at the department since early last year as a counselor, a position that did not require Senate confirmation. In that role, he played a significant role in helping Mnuchin negotiate with congressional Republicans and coordinate with outside interests to pass the major tax overhaul package.
Muzinich also worked at the investment bank Morgan Stanley and served as president of Muzinich & Co., the investment firm founded by his father.
His Wall Street ties could make Senate confirmation contentious, given the skepticism that Senate Democrats have about the number of former bankers and finance industry professionals in financial policy roles within the Trump administration.
A New Yorker, Muzinich has a law degree from Yale Law School and an MBA from Harvard Business School, as well as an undergraduate degree from Harvard.
