Jacob J. Lew
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- Milken Institute39 min
A Conversation with Jacob J. Lew, Secretary, U.S. Department of the Treasury
Treasury Secretary Jack Lew characterizes Puerto Rico's $70 billion debt crisis as an immediate emergency requiring legislative authority to establish an independent oversight board and prevent a chaotic restructuring that would harm 3.5 million residents and U.S. municipal bond markets. Simultaneously, Lew advocates for comprehensive federal reforms to overhaul the housing finance system, close corporate inversion loopholes, and implement a revenue-generating tax code that addresses broken incentives without relying on revenue neutrality. Complementing these economic measures, the administration announced a redesign of U.S. currency featuring Harriet Tubman on the $20 bill to better reflect American history, while urging bipartisan cooperation to overcome modern political divisiveness.