Phil Swagel
Showing 1–2 of 2 transcripts.
- Milken Institute1h 0m
Housing Finance and Private Capital
Phil Swagel, Gene Sperling, Josh Rosner, Drew Newton, Jim Lockhart, Don Layton
Former officials and industry leaders including Gene Sperling, Josh Rosner, and Jim Lockhart debated legislative frameworks to dismantle the Fannie Mae and Freddie Mac duopoly, agreeing on the necessity of explicit government backstops and private capital buffers while clashing over specific regulatory powers and market concentration risks. The discussion highlighted a White House push for an affordability fee and highlighted deep disagreements on whether current proposals contain sufficient "first-loss" provisions to prevent future taxpayer bailouts or if they dangerously concentrate risk among a limited pool of private investors. Ultimately, the panel identified a contentious path toward reform that requires balancing reduced government market share against the urgent need for modernized infrastructure and robust counter-cyclical regulations within a $10 trillion mortgage system.
- Milken Institute59 min
U.S. Tax Reform: What's New, What Would It Mean?
Jared Bernstein, Mark Everson, Nancy Kopp, Phillip Swagel, Liz Claman, Phil Swagel
Prominent experts including former IRS Commissioner Mark Everson and Milken Institute officials Phil Swaggle and Jared Bernstein convened to analyze U.S. tax reform priorities following the financial crisis, focusing on the inefficiencies of current tax expenditures like the mortgage interest deduction and carried interest. The panel identified a critical need to close the $300 billion annual tax gap and eliminate barriers such as the Alternative Minimum Tax that hinder small business innovation and domestic R&D investment. Despite consensus on the necessity of capping deductions and ending corporate tax deferral, the group acknowledged that political gridlock and rigid fiscal rules remain significant obstacles to comprehensive legislative action.