Trump picks Ken Kies for key tax policy job

U.S. Treasury Department exterior building D.C.
Samuel Corum/Bloomberg

President-elect Donald Trump has announced members of his senior leadership team at the Treasury Department, who'll work alongside Scott Bessent, his pick for secretary. 

Processing Content

Ken Kies will be assistant secretary for tax policy, placing him as a point person at the Treasury working on tax cuts Trump has touted as a signature policy issue for 2025. Kies is a longtime Republican tax lobbyist, whose client list has included Microsoft, insurers and financial services groups.

READ MORE: 20 people who will shape wealth management in 2025

Samantha Schwab, granddaughter of billionaire Charles Schwab, will be deputy chief of staff and work under Daniel Katz of the Manhattan Institute, who will be chief of staff. Katz was a senior advisor at the Treasury during Trump's first term, the president-elect said in a post on his Truth Social platform Thursday night. Schwab worked for the first Trump administration in the office of legislative affairs. Charles Schwab contributed $1 million to Trump's 2017 inaugural fundraising committee.

Cora Alvi, who was a national deputy finance director for Trump's presidential campaign, will also be a deputy chief of staff.

Republicans face a year-end deadline to extend many of the tax cuts passed in Trump's first term. Absent congressional action, taxes on many households and small businesses will increase next year. Trump has also vowed to enact fresh tax cuts for corporations and eliminate levies on tips, overtime pay and Social Security payments, major changes that could add trillions of dollars to the deficit.

Trump said he had selected Alexandra Preate as senior counselor to the Treasury secretary, and Hunter McMaster as director of policy planning. 

McMaster is a nephew of South Carolina Governor Henry McMaster, a major Trump fundraiser.


Bloomberg News
Politics and policy Tax Donald Trump
MORE FROM FINANCIAL PLANNING

A report from the industry tracking-firm DeVoe & Co. finds that 2026 is off to the strongest start for RIA acquisitions ever and broker-dealers like LPL are among the main purchasers.

5h ago
4 Min Read
Marty Bicknell.PNG

While the megabank had previously announced an executive shakeup, it revealed that Pershing is part of a newly combined business line moving forward.

7h ago
5 Min Read
A Bloomberg News image displays the corporate logo of BNY at the company's headquarters.

When it comes to compensation, firms really start to distinguish themselves at the $1 million production level. Janney has become one of the lower payers in recent years, while RBC and UBS have signaled a greater willingness to work with these advisors.

10h ago
1 Min Read
2026-1M.jpg

CEO Brian Moynihan said the firm recruited twice the number of advisors it did a year ago and is making progress fighting advisor attrition.

April 15
1 Min Read
Day Three Of World Economic Forum (WEF) 2026

Behavioral finance expert Tim Maurer shares how planners can adjust their language and approach to help clients move toward their goals.

April 15
6 Min Read
Tracking the gap between how planners and clients view their relationships

Chief Financial Officer Sharon Yeshaya says financial advisors have $400 billion in assets since 2020 from clients who first came to Morgan Stanley either through its workplace or E-Trade businesses.

April 15
3 Min Read
Day Two Of World Economic Forum (WEF) 2026