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26–198 PDF 2017

S. HRG. 115–49 

NOMINATIONS OF KEVIN ALLEN HASSETT AND 

PAMELA HUGHES PATENAUDE 

HEARING 

BEFORE THE

COMMITTEE ON 

BANKING, HOUSING, AND URBAN AFFAIRS 

UNITED STATES SENATE 

ONE HUNDRED FIFTEENTH CONGRESS 

FIRST SESSION 

ON 

NOMINATIONS OF: 

KEVIN ALLEN HASSETT, OF MASSACHUSETTS, TO BE CHAIRMAN, COUNCIL OF

ECONOMIC ADVISERS

PAMELA HUGHES PATENAUDE, OF NEW HAMPSHIRE, TO BE DEPUTY

SECRETARY, U.S. HOUSING AND URBAN DEVELOPMENT

JUNE 6, 2017 

Printed for the use of the Committee on Banking, Housing, and Urban Affairs 

( 

Available at: http://www.fdsys.gov/ 

COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS 

MIKE CRAPO, Idaho, Chairman 

RICHARD C. SHELBY, Alabama 

BOB CORKER, Tennessee 

PATRICK J. TOOMEY, Pennsylvania 

DEAN HELLER, Nevada 

TIM SCOTT, South Carolina 

BEN SASSE, Nebraska 

TOM COTTON, Arkansas 

MIKE ROUNDS, South Dakota 

DAVID PERDUE, Georgia 

THOM TILLIS, North Carolina 

JOHN KENNEDY, Louisiana 

SHERROD BROWN, Ohio 

JACK REED, Rhode Island 

ROBERT MENENDEZ, New Jersey 

JON TESTER, Montana 

MARK R. WARNER, Virginia 

ELIZABETH WARREN, Massachusetts 

HEIDI HEITKAMP, North Dakota 

JOE DONNELLY, Indiana 

BRIAN SCHATZ, Hawaii 

CHRIS VAN HOLLEN, Maryland 

CATHERINE CORTEZ MASTO, Nevada 

GREGG RICHARD, Staff Director 

MARK POWDEN, Democratic Staff Director 

ELAD ROISMAN, Chief Counsel 

JOHN O’HARA, Chief Counsel for National Security Policy 

KRISTINE JOHNSON, Professional Staff Member 

MATT JONES, Professional Staff Member 

GRAHAM STEELE, Democratic Chief Counsel 

LAURA SWANSON, Democratic Deputy Staff Director 

COLIN MCGINNIS, Democratic Policy Director 

BETH COOPER, Democratic Professional Staff Member 

HOMER CARLISLE, Democratic Professional Staff Member 

DAWN RATLIFF, Chief Clerk 

SHELVIN SIMMONS, IT Director 

JIM CROWELL, Editor 

(II)

C O N T E N T S 

TUESDAY, JUNE 6, 2017 

Page 

Opening statement of Chairman Crapo ................................................................. 1 

Opening statements, comments, or prepared statements of: 

Senator Brown .................................................................................................. 2 

WITNESSES 

Rob Portman, a U.S. Senator from the State of Ohio ........................................... 4 

Jeanne Shaheen, a U.S. Senator from the State of New Hampshire .................. 5 

NOMINEES 

Kevin Allen Hassett, of Massachusetts, to be Chairman, Council of Economic 

Advisers ................................................................................................................ 5 

Prepared statement .......................................................................................... 30 

Biographical sketch of nominee ....................................................................... 32 

Responses to written questions of: 

Senator Brown ........................................................................................... 89 

Senator Sasse ............................................................................................ 95 

Senator Reed .............................................................................................. 102 

Senator Menendez ..................................................................................... 103 

Senator Warner ......................................................................................... 103 

Senator Heitkamp ..................................................................................... 104 

Senator Cortez Masto ................................................................................ 107 

Senator Schatz ........................................................................................... 108 

Pamela Hughes Patenaude, of New Hampshire, to be Deputy Secretary, U.S. 

Housing and Urban Development ....................................................................... 8 

Prepared statement .......................................................................................... 77 

Biographical sketch of nominee ....................................................................... 79 

Responses to written questions of: 

Senator Brown ........................................................................................... 114 

Senator Shelby ........................................................................................... 121 

Senator Sasse ............................................................................................ 121 

Senator Reed .............................................................................................. 122 

Senator Menendez ..................................................................................... 123 

Senator Heitkamp ..................................................................................... 129 

Senator Cortez Masto ................................................................................ 131 

Senator Schatz ........................................................................................... 134 

ADDITIONAL MATERIAL SUPPLIED FOR THE RECORD

Letters submitted in support of the nomination of Kevin Allen Hassett ............ 136 

Letters submitted in support of the nomination of Pamela Hughes Patenaude 142 

(III)

(1) 

NOMINATIONS OF KEVIN ALLEN HASSETT, OF 

MASSACHUSETTS, TO BE CHAIRMAN, COUNCIL OF ECONOMIC ADVISERS AND PAMELA 

HUGHES PATENAUDE, OF NEW HAMPSHIRE, 

TO BE DEPUTY SECRETARY, U.S. HOUSING 

AND URBAN DEVELOPMENT 

TUESDAY, JUNE 6, 2017 

U.S. SENATE, 

COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS, 

Washington, DC. 

The Committee met at 10:05 a.m., in room SD–538, Dirksen Senate Office Building, Hon. Mike Crapo, Chairman of the Committee, 

presiding. 

OPENING STATEMENT OF CHAIRMAN MIKE CRAPO 

Chairman CRAPO. This hearing will come to order. 

This morning, we will consider the nominations of Mr. Kevin 

Hassett to be Chairman of the Council of Economic Advisers and 

the Honorable Pamela Patenaude to be the Deputy Secretary for 

the United States Department of Housing and Urban Development. 

We will begin today’s hearing with an opening statement by me 

and then by Senator Brown. And then I will turn to Senator 

Portman, who will introduce Mr. Hassett, and to Senator Shaheen, 

when she arrives, who will introduce Ms. Patenaude. 

I see friends and family behind you as well, and I also see my 

good friend Bob Dole—at least I did just a minute ago—and we 

welcome him here. 

Each of these nominees stands to impact the standard of living 

for Americans across the country and will play an important role 

in spurring economic opportunity. 

Mr. Hassett has had a distinguished career in economics that includes positions in academia, Government, and policy. He is a 

widely consulted expert on economic policy and has contributed 

countless scholarly papers, commentary, and testimony. His nomination has received bipartisan support from notable economists, including past CEA Chairmen. 

Mr. Hassett’s particular understanding of tax policy and the way 

it affects citizens and businesses will be an invaluable asset to the 

Administration. He has extensive experience with economic modeling and will be able to provide sound economic analysis for progrowth policies. Key to economic growth is not only robust financial 

markets, but also economic policies that will best enable all AmeriVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00005 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
2 

cans to unlock their potential. I look forward to hearing from Mr. 

Hassett on how economic analysis can play a role in achieving this 

goal. 

Ms. Patenaude is a seasoned veteran in housing and community 

development who has held leadership roles at the local and Federal 

level. Twelve years ago, Ms. Patenaude received unanimous support from this Committee and was confirmed by the Senate with 

a voice vote to become Assistant Secretary for Community Planning 

and Development at HUD. In this role, Ms. Patenaude oversaw all 

of the Department’s community development operations. 

As a former leader in a local housing agency, she has on-theground experience and developed an important understanding of 

the impact HUD’s policies have on local partners. Ms. Patenaude’s 

nomination has been met with bipartisan support as well from industry leaders, affordable housing advocates and public housing 

agencies alike. 

This speaks to Ms. Patenaude’s distinguished reputation and her 

commitment to addressing important housing issues. 

I look forward to working with Ms. Patenaude on opportunities 

to improve the efficiency of HUD programs, reduce regulatory burdens on local housing authorities, leverage more private capital, 

empower local decision making, encourage self-sufficiency, and address comprehensive housing finance reform. 

At this time, I ask unanimous consent to enter into the record 

two letters endorsing Mr. Hassett, one of which is signed by 44 

economists from both sides of the aisle, including several top economists from the Obama administration. Without objection, so ordered. 

I also ask unanimous consent to enter into the record more than 

30 letters showing bipartisan support for Ms. Patenaude, including 

a letter signed by former Majority Leaders Bob Dole and George 

Mitchell. Without objection, so ordered. 

Congratulations to both of you on your nominations to these very 

important offices, and thank you for your willingness to serve. 

Senator Brown. 

STATEMENT OF SENATOR SHERROD BROWN 

Senator BROWN. Thank you, Mr. Chairman. Mr. Hassett, Ms. 

Patenaude, welcome. Senator Shaheen and my friend and colleague 

from Ohio, Senator Portman, nice to see you two. 

Thanks for holding this hearing. I look forward to hearing the 

views of the two witnesses on important areas of the Committee’s 

jurisdiction: the economy, housing, community development. 

Ms. Patenaude comes to us with a long resume of involvement 

with housing and community development programs, HUD management, and housing advocacy. More recently, she has headed the 

Terwilliger Foundation for Housing America’s Families. In a report 

entitled ‘‘The Silent Housing Crisis’’, the foundation reported that 

having access to safe and affordable housing has long been recognized as a part of America’s critical compact with its citizens. I look 

forward to hearing her views, particularly since her past advocacy 

seems at odds with the approach that HUD has taken in its budget 

proposal. 

3 

Mr. Hassett is a respected economist. He has done important 

work related to the policies that drove manufacturing out of Ohio 

communities and others like it across the country. I hope that his 

work at the Council of Economic Advisers will focus on policies to 

create jobs and improve education and workforce development and 

actually rebuild infrastructure. That is what is needed to strengthen the economy. Instead, we have seen the Administration threaten 

Wall Street reform, attempt to take away health insurance from 23 

million people—I appreciate my colleague from Ohio speaking out 

on the Medicaid cuts—target working Americans with steep budget 

cuts and increased debt, all to further the interests of the wealthiest Americans. 

The Administration’s HUD budget proposal is a stark illustration 

of this agenda. Eleven million renters, as Ms. Patenaude and I discussed in my office—and she is so very aware of this—pay over half 

their income in rent, meaning one thing goes bad in their lives, and 

they are evicted. They lose—their children have to go to a different 

school. Everything turns upside down. Eleven million renters—I 

want you always to remember that number, 11 million renters— 

pay half their incomes in rent. Five hundred thousand people are 

homeless. The President’s budget would cut $7 billion, 15 percent, 

from the HUD budget. The budget would eliminate programs like 

Community Development Block Grants and HOME, cut funding for 

public housing repairs by 70 percent. We all know the condition of 

public housing, and to cut their funding for repairs by 70 percent, 

to eliminate funding for an estimated 250,000 housing vouchers 

next year, it reduces funding for lead hazard control and healthy 

housing grants, to protect children from lead poisoning, from asthma, and other health problems. Senator Portman knows, in cities 

in my State, in housing built before Senator Portman and I were 

born, the lead content, the lead exposure in those homes are overwhelming. In some cases, according to the Health Department, 99 

percent of those homes have toxic levels of lead. 

Five months ago in this room, Dr. Carson scoffed at the notion 

that he would support a 10-percent cut in the HUD budget. He said 

he understood from his experience as a pediatric neurosurgeon how 

it was far less costly to avoid lead poisoning than to treat it. I was 

one of five or six Democrats that voted for his confirmation on the 

floor of the Senate. I did that because of his personal and his public 

promises on lead. Yet this budget, which apparently he is defending—and that is one of the things we want to hear from you, Ms. 

Patenaude—undermines all of this. 

The broken promises do not end there. The President promised 

in the campaign trail in Toledo and across the country to revitalize 

our inner cities and rebuild infrastructure. I had hoped we would 

be able to work with the Administration to strengthen our Nation 

while providing good jobs in Ohio. Instead, the President proposes 

to cut more existing infrastructure programs than the $200 billion 

he is willing to invest. The HUD budget will only add to the struggles of our inner cities. 

I look forward to hearing from our two witnesses how we tackle 

the many challenges that face this country from the crisis of housing affordability for our families and seniors to the stagnant wages 

and employment prospects of far too many of our fellow Americans. 

4 

Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you, Senator Brown. 

Now we will turn to Senator Portman to introduce Mr. Hassett. 

STATEMENT OF ROB PORTMAN, A U.S. SENATOR FROM THE 

STATE OF OHIO 

Senator PORTMAN. Thank you, Mr. Chairman, for letting me do 

this, and I thank my colleague from Ohio and my friend who just 

spoke, the Ranking Member. 

It is a pleasure to introduce Kevin Hassett. He, as you know, is 

being nominated to serve as Chairman of the Council of Economic 

Advisers. I am delighted to see that he has brought his own team 

of advisers with him today: his sons Jamie and John, and his wife, 

Kristie. Who is the Chair, by the way, of that Council? 

Mrs. HASSETT. That would be me. 

[Laughter.] 

Senator PORTMAN. That would be Kristie. Kristie is the Chair. 

We have known each other a long time. Kevin Hassett and I 

served together in the first Bush administration, the Administration of George H.W. Bush. He was in the Treasury Department. I 

was Director of the White House Office of Legislative Affairs, and 

I got to know him and respect him. And he continued to serve as 

a policy consultant for the Treasury Department under the Clinton 

administration. I went on to the House and the Ways and Means 

Committee where I looked to him to provide economic counsel as 

we tried to reform the Tax Code. And, again, as the Chairman has 

mentioned, that is one of his specialties, and I am pleased that he 

is being nominated for this position, in part because there is a need 

to fix a broken Tax Code. 

He has gotten a lot of respect from economists from both sides 

of the aisle. His predecessor as Chair of the Council of Economic 

Advisers, Jason Furman, has called him an ‘‘excellent pick.’’ That 

is from Jason Furman. He has also been endorsed by Obama administration economists Austan Goolsbee, Peter Orszag, and Christina Romer, all of whom I think you all know and have had here 

before the Committee. 

He has served as a senior economist at the Federal Reserve 

Board of Governors and as an economic adviser to five major Presidential campaigns. In particular, I want to point out that Kevin is 

an expert, again, on tax reform. I think this is going to be incredibly important to us, and his focus has been on how to have a Tax 

Code that gets rid of some of the loopholes and some of the preferences for special interests and a simpler Tax Code with lower 

rates. And I think that, again, is exactly what we need to get the 

economy moving. 

What he has shown is that if you could fix the Tax Code in that 

way, the major beneficiary would be middle-class families; wages 

are flat right now and the best thing to do to get wages up is actually to reform the Tax Code. And I think that is really important 

research. The middle-class squeeze that too many of our constituents are feeling, flat wages and higher expenses, is something we 

can address through a number of ways, and one certainly is 

through tax reform. And his work in that area has respect on both 

sides of the aisle. 

5 

He is the right person at the right time, Mr. Chairman. I think 

as Chairman of the Council of Economic Advisers, the difficult task 

of tax reform, among other things, will be much easier. 

So thank you very much for giving me the opportunity to say a 

few words this morning about Mr. Hassett, and I strongly support 

him, and I hope the Committee will send him to the floor. 

Chairman CRAPO. Thank you, Senator Portman. 

Now, Senator Shaheen, would you please introduce Ms. 

Patenaude? 

STATEMENT OF JEANNE SHAHEEN, A U.S. SENATOR FROM 

THE STATE OF NEW HAMPSHIRE 

Senator SHAHEEN. Thank you, Mr. Chairman and Senator Brown 

and Members of the Committee. I am really delighted to be here 

to introduce a fellow Granite Stater, Pam Patenaude, to be President Trump’s nominee to serve as the Deputy Secretary of the Department of Housing and Urban Development. And what I have to 

say is probably overkill after your glowing review of her resume, 

Mr. Chairman, but Ms. Patenaude’s experience in housing policy 

goes back nearly three-and-a-half decades, beginning with her work 

in New Hampshire at the New Hampshire Housing Finance Agency. That was followed, as you pointed out, by service as White 

House Liaison at the Department of Housing and Urban Development in the Reagan administration. 

Now, Pam and I first got to know each other when I was Governor and she served in a succession of high-level positions: Director of New Hampshire’s Small Business Development Centers, the 

Deputy Chief of Staff and later State Director for then-Senator Bob 

Smith of New Hampshire, and Assistant Deputy Secretary at HUD. 

And as you pointed out, she later served as HUD Assistant Secretary in the Office of Community Planning and Development, and 

as an executive with the Urban Land Institute. 

You know, what impressed me always about Pam is that she understands that access to affordable housing and a safe place to call 

home is the foundation of families and strong communities. And 

throughout her career, she has been engaged in these challenges as 

a thinker, a leader, and a problem solver. And I have especially appreciated her ability to bring together disparate stakeholder groups 

to forge bipartisan agreements in the housing arena, and that she 

is personally dedicated to the core mission of HUD, including the 

challenge of bringing opportunity, as you pointed out, Senator 

Brown, to America’s most disadvantaged urban communities. 

I think our Nation is fortunate to have someone of Pam’s high 

caliber who is willing and eager to serve in this position in the Federal Government, and I hope that Members of the Committee will 

agree with me that her experience and expertise makes her superbly suited to serve as Deputy Secretary at HUD. 

So thank you, Mr. Chairman. Thank you, Members of the Committee. 

Chairman CRAPO. Thank you very much, Senator Shaheen. We 

appreciate that introduction. 

And now, before we begin your testimony, I would like to place 

both of the nominees under oath, so would you please rise and 

raise your right hand? Do you swear or affirm that the testimony 

6 

you are about to give is the truth, the whole truth, and nothing but 

the truth, so help you God? 

Mr. HASSETT. I do. 

Ms. PATENAUDE. I do. 

Chairman CRAPO. And do you agree to appear and testify before 

any duly constituted Committee of the Senate? 

Mr. HASSETT. I do. 

Ms. PATENAUDE. I do. 

Chairman CRAPO. Thank you very much. You may be seated. 

And, Mr. Hassett, you may proceed. 

Each of you may take a few moments, which we will not take 

away from your time, to introduce any members of your family you 

may wish to introduce. 

STATEMENT OF KEVIN ALLEN HASSETT, OF MASSACHUSETTS, 

TO BE CHAIRMAN, COUNCIL OF ECONOMIC ADVISERS 

Mr. HASSETT. Thank you very much, Senator Portman, for the 

kind introduction. And Senator Crapo, Ranking Member Brown, 

and distinguished Members of the Committee, I am truly humbled 

and honored to be before you today as President Trump’s nominee 

to be the Chairman of the Council of Economic Advisers. I am also 

deeply grateful to have had a chance to get to know many of you 

throughout this process. I wish that the people who worry about 

Washington could have witnessed the many private kindnesses 

that the Members of this Committee and staff have extended to me 

in the last few weeks. 

And I would also like to begin, as you invited me to, Senator, by 

introducing my college sweetheart and wife of 31 years, Kristie 

Hassett, and next to her are my sons John and James, who are sitting behind me. I would also like to acknowledge my father, John, 

who was a Korean War veteran but could not be here today; and 

my mother, Sylvia, and my sister, Julia, who sadly are no longer 

with us. 

Senators, I have almost always been a student of economics, even 

before I knew it. I was raised by two public school teachers in the 

beautiful town of Greenfield, Massachusetts. My mother was a kindergarten teacher in neighboring Turners Falls. My father taught 

English at Greenfield High School and still lives in Greenfield in 

the same house I was raised in. 

As I was growing up, my town went through a very painful transition. For the longest time, Greenfield was a thriving mill town, 

with the world’s largest tap and die operation that employed thousands of citizens. Neighboring Turners Falls was almost as prosperous, housing a massive paper mill along the banks of the Connecticut River. But as we got older, times were changing. Plants 

closed. Families started moving away. Graduates stopped coming 

home after college. 

It seemed impossible to look around and not wonder what was 

happening to my town. When I started studying economics in college and again in graduate school, I always came back to the example of how my town changed. Why did plants move away or close? 

Why did many of the good jobs disappear? And is there something 

that policymakers can do to restore prosperity? 

7 

Now, economic models suggest a simple answer. Workers can 

have high wages if they have high productivity, and high productivity is enabled by an ample supply of capital. But going from 

things that work in textbook models to actual policy recommendations is a difficult thing. The real world has many complications 

that are not included in the models, and the data often surprise 

economists, especially those who have too much confidence in their 

theories. 

That observation led me over the years to focus on things that 

can be learned from the data. My dissertation focused in part on 

how wages have moved over the business cycle. What do the periods when workers prosper have in common? My early career was 

spent studying how firms’ investment decisions respond to Government policy and how labor and capital interact. 

Since then, my studies have taken me in many different directions, but I think my record makes clear a few things that I would 

like to emphasize about my approach to economics. 

First, I believe it is essential to gather evidence and not just rely 

on theory. Early in my career, the empirical literature on international taxation contained many holes, often because the countryby-country data that one would need for study were not available. 

My coauthors and I responded to this by building a large international tax data base and making its data available to anyone 

who wanted it. 

Which leads me to my second point: I believe that economic analysis should be transparent and replicable. An example of my commitment to this idea is the Open Source Policy Center, which I cofounded at the American Enterprise Institute. The OSPC has open 

source computer code that allows anyone to score tax plans, evaluate the distributional consequences of that plan, and see what the 

assumptions are that others use when they score their own plans. 

The OSPC promises to democratize the tax debate. 

Finally, while I respect the need for all types of research, even 

the very theoretical, my own focus has mostly been work that holds 

the promise of improving the lives of others and that sheds light 

on the circumstances of those less fortunate, like those in my 

hometown who lost their jobs when I was growing up. A recent example of this would be my work with the Economic Innovation 

Group, where I explore the causes and cures of the striking geographic inequality that we see in America today. EIG researchers 

have worked hard to identify and measure distress and have constructed publicly available data sets that shed light on the communities around the country that most need our help. There is an 

interactive map even at the EIG website that helps people explore 

their own communities, with the dark color red indicating extreme 

economic distress. One of the reddest shapes on the map in Massachusetts is Turners Falls, the town across the river from my dad’s 

house where the paper mill closed. 

The Council of Economic Advisers was created to provide the 

President with professional and objective economic advice, to help 

policymakers craft solutions for problems like those we face today. 

Throughout history, the CEA has done so admirably during both 

Democratic and Republican administrations. In 2009, then-nominee 

Christina Romer told this Committee that she would do her, and 

8 

I quote, ‘‘utmost to protect the integrity of the CEA, and make it 

a center for unbiased, scientific analysis.’’ Chairman Crapo and 

Members of the Committee, if confirmed, I pledge to you that I 

would do the same and that I would enthusiastically and energetically take the helm of this great American institution. 

Thank you. 

Chairman CRAPO. Thank you, Mr. Hassett. 

Ms. Patenaude. 

STATEMENT OF PAMELA HUGHES PATENAUDE, OF NEW 

HAMPSHIRE, TO BE DEPUTY SECRETARY, U.S. HOUSING AND 

URBAN DEVELOPMENT 

Ms. PATENAUDE. Thank you, Chairman Crapo, Ranking Member 

Brown, and distinguished Members of this Committee. It is a great 

privilege to appear before you this morning. I am deeply honored 

by President Trump’s decision to nominate me as the Deputy Secretary of the U.S. Department of Housing and Urban Development. 

I also want to thank Senator Shaheen for her very thoughtful introduction, and a special thanks to my dear friend Senator Bob 

Dole for joining us this morning. 

Mr. Chairman, if I may take a moment to introduce my husband 

and our three daughters: my husband of 32 years, Chuck 

Patenaude; Caitlin—they are out of order here—Meghan, and Jennifer. And I also want to recognize my niece, Kristen Hughes, who 

is also here with us today, and the many friends who are sitting 

behind me showing their love and support. 

Housing has always been close to my heart and part of my family 

history. My late parents, Bob and Estella Hughes, together created 

and ran a successful homebuilding business in New Hampshire. In 

the Hughes household, there was simply no escaping talk about 

housing. 

For that reason, it was no surprise to my parents when I came 

to share their passion for housing. As a senior at Saint Anselm College, I experienced our Nation’s capital as many college students 

do: as an intern. I never imagined that that internship at HUD 

headquarters 35 years ago would launch a career that continues to 

energize, challenge, and inspire me. Upon graduation, I administered the Section 8 rental assistance program at the New Hampshire Housing Finance Authority, where I observed firsthand the 

transformational impact that HUD programs could have on improving the quality of life for seniors and our most vulnerable citizens. 

During my career, I have also served at HUD in several leadership roles. As Assistant Deputy Secretary for Field Policy and Management, I restructured HUD’s critical field operations and contributed to the development of the 5-year Strategic Plan. As Assistant 

Secretary for Community Planning and Development, I administered more than $8 billion in community economic development 

and affordable housing funds and managed a team of more than 

800 experienced professionals committed to carrying out HUD’s 

mission. 

Outside of HUD, my career has focused on promoting housing 

policies that are aligned with the significant and changing needs 

of the American people. 

9 

At the Urban Land Institute, I established the ULI Terwilliger 

Center for Workforce Housing to draw attention to the plight of 

America’s most essential workers: firefighters, police officers, 

nurses, and teachers, who are too often priced out of the communities they serve. 

At the Bipartisan Policy Center, I directed the Housing Commission under the steadfast leadership of three of your former colleagues: Senator George Mitchell, Senator Kit Bond, and Senator 

Mel Martinez, as well as former HUD Secretary Henry Cisneros. 

The Commission developed a comprehensive report outlining a new 

direction for Federal housing policy. 

Currently, I serve as president of the J. Ronald Terwilliger Foundation for Housing America’s Families, where we seek to elevate 

rental affordability as a national priority and to educate policymakers about the silent housing crisis in America. 

Through these initiatives, I have developed strong working relationships with diverse groups, diverse members of the housing community—affordable housing advocates, homebuilders, mortgage 

bankers, Government policymakers, and academics. I am very 

proud to say that bipartisan collaboration has been a hallmark of 

these initiatives. 

My career in housing at the local, State, and Federal levels of 

Government and in the private sector has broadened my view of 

America’s housing policies. This unique perspective enables me to 

understand the factors that contribute to the success of some programs, as well as the factors that diminish the well-intended impacts of others. 

As Matthew Desmond articulated in his Pulitzer Prize-winning 

book ‘‘Evicted’’, ‘‘we have failed to fully appreciate how deeply housing is implicated in the creation of poverty.’’ Dr. Desmond believes 

that ‘‘powerful solutions are within our collective reach.’’ I agree 

with Dr. Desmond. I believe that as a Nation, we must recognize 

that housing is not just a commodity but a foundation for economic 

mobility and personal growth. 

If confirmed by the U.S. Senate, I pledge to work closely with 

this Committee, with Congress, and with Secretary Carson to develop new solutions to address the affordable housing crisis in 

America and to implement the critical mission of the U.S. Department of Housing and Urban Development. 

I appreciate the Committee’s thoughtful consideration of my 

nomination. Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you very much, Ms. Patenaude. 

My first question, and I mean brief here because I only have 5 

minutes, but I would like you each to briefly, like within 60 seconds, to just take a minute to discuss what your top priorities will 

be as you are confirmed. Mr. Hassett. 

Mr. HASSETT. Senator, thank you for the question. If confirmed, 

my first priority would be, frankly, to recruit a lot of economists 

because the Council of Economic Advisers has a proud tradition of 

recruiting folks from universities all around the country to come to 

Washington to provide unbiased, scientific, objective advice to the 

President. And unlike a lot of agencies, the Council of Economic 

Advisers turns over a lot, and so that there are new people coming 

to town to serve their country all the time. And if confirmed, that 

10 

would be the very first order of business for me because the staff 

probably would go from around 35 to 10 were we not to start recruiting. 

The second thing I could say is a very high priority for me is to 

increase the transparency of the modeling and the communication 

that goes on in all of the economic communication of the Administration. So I would like to take the work that I have done at the 

Open Source Policy Center and at EIG where we have made these 

interactive maps and bring that kind of spirit of transparency to 

the CEA. 

Chairman CRAPO. Thank you. 

Ms. Patenaude. 

Ms. PATENAUDE. Thank you, Mr. Chairman. My priorities obviously will be the Secretary’s priorities, but the first thing I would 

like to do is to hear what the Secretary has learned during his first 

100 days during his listening tour. From my past experience, I 

know that I need to certainly assess the human capital needs and 

the operations needs of the Department, and I look forward to 

working with the Secretary on developing a strategic plan based on 

his priorities and those of the Administration. Thank you. 

Chairman CRAPO. Well, thank you. And, Ms. Patenaude, I will 

stick with you because I am going to go back to both of you with 

sort of a priority of mine I would like you to assume. And with regard to you, Ms. Patenaude, there are actually several. 

There has been a bipartisan interest in addressing a number of 

important issues in the housing space, such as streamlining regulatory requirements for smaller PHAs, increasing the role of private capital in financing affordable housing, and creating a new, 

sustainable housing finance system. And I do not need you to talk 

about these. I just want to know: Would you agree to prioritize 

those and work with us as we seek to achieve those objectives? 

Ms. PATENAUDE. Yes, Mr. Chairman. 

Chairman CRAPO. Thank you very much. 

And, Mr. Hassett, my question for you is: In the space you just 

referenced, you have extensive experience with economic growth 

modeling and evaluating the economic impacts of policy. You mentioned you would like to prioritize getting that more transparent 

and, I assume, out there and understood and used. Various growth 

estimates have been discussed recently in the context of tax and 

budget and other reforms. In your opinion, is 3 percent growth a 

reasonable target? And if so, please explain what policies would be 

needed to reach that goal? 

Mr. HASSETT. Thank you very much. The 3 percent growth is 

something that Americans used to be accustomed to; 3 percent 

growth was the rule rather than the exception. But growth comes, 

basically if you want more output, ultimately from more inputs, 

and historically we have had a lot of labor force growth, capital 

stock growth, and technological innovation that have driven growth 

up to around 3 percent. 

All three of those factors have been very disappointing for some 

time now. We had the computer revolution in the 1990s, but that 

seems to have slowed down. Capital formation in the late 1990s 

was contributing about 1.2 percent per year to growth. Right now 

11 

it is about 0.4 or 0.5. And labor force growth, of course, has been 

disappointing as well. 

And so if we want to go from the 2 or so percent growth that we 

have been experiencing to 3 percent, then we are going to have to 

get those three things moving. And the thing that I have researched the most throughout my career is capital, capital investment, how it affects workers and how to get it going. And I think 

that it is absolutely possible to return to a place where you could 

get 3 percent growth if we design policies in a way that would encourage capital formation in the United States. 

Chairman CRAPO. Thank you. And I would assume that would 

include some comprehensive tax reform. Is that correct? 

Mr. HASSETT. That is correct, Senator, and I think this estimate 

was a little bit high, but there was a survey at the National Bureau of Economic Research a number of years ago where a bunch 

of economists were surveyed about the impact of the 1986 Tax Reform Act, and I believe the median estimate of the economic growth 

that they said was about 1 percent per year. And so, again, if you 

are thinking about how could we get from 2-ish to around 3, then 

tax reform is certainly part of the—one of the tools that we would 

want to use. 

Chairman CRAPO. All right. Thank you very much. 

Mr. HASSETT. Thank you. 

Chairman CRAPO. Senator Brown. 

Senator BROWN. Thank you, Mr. Chairman. 

Ms. Patenaude, thank you again for being here. In your work 

with Terwilliger, you cited stagnating wages, a weak economy, and 

‘‘the acute shortage of rental homes that are both affordable and 

available to those households with the lowest incomes’’ as factors 

in the rental affordability crisis we see today. This indicates you 

believe broad economic trends are contributing to the current shortage of affordable rental housing. Is that correct? 

Ms. PATENAUDE. That is correct. 

Senator BROWN. OK. Thanks. You mentioned Matthew 

Desmond’s observation in his book ‘‘Evicted’’ that ‘‘we have failed 

to fully appreciate how deeply housing is implicated in the creation 

of poverty.’’ When he came to see a group of us in the Senate 1 day, 

I asked him to meet with a number of Senators. When he signed 

his book, he wrote, ‘‘Home equals life,’’ understanding, as you do, 

in our discussion that I know you believe that families turn upside 

down in so many ways if they do not have a stable, affordable 

home. 

When I quoted him just now, ‘‘we have failed to fully appreciate 

how deeply housing is implicated in the creation of poverty,’’ if you 

believe what he wrote to be true, then the HUD budget, if adopted, 

would it not create additional poverty? 

Ms. PATENAUDE. Senator Brown, I was not involved in the proposed budget in any way, shape, or form, and I very much appreciate and understand the role of Congress in formulating the budget and look forward to working with this Committee. 

Senator BROWN. But you are going to be—let us just put it gently, that your knowledge and expertise far exceeds your boss’. I 

think that is generally believed. You may not want to agree with 

that, but he will be listening to you. What will you say to him 

12 

about this budget, that these kind of cuts far in excess of what he 

said he would support when he was in front of us 3 or 4 months 

ago, what do you argue with him? What do you say to him? 

Ms. PATENAUDE. I have not had a conversation about the budget 

with Secretary Carson. He is going to testify before the House tomorrow. 

Senator BROWN. My question is: What will you say to him, once 

confirmed—— 

Ms. PATENAUDE. As a lifelong houser, I think you can count on 

me that I will advocate for programs that work and are effective 

going forward. 

Senator BROWN. So does that mean you do not agree with the 

President’s budget cuts? 

Ms. PATENAUDE. No. As the President’s nominee, I support the 

President’s budget. 

Senator BROWN. But you will advocate for adequate funding of 

these programs that you know work? 

Ms. PATENAUDE. Going forward, if I am confirmed by the U.S. 

Senate, yes. 

Senator BROWN. OK. I do not know how you support the President’s budget cuts, but you support adequate funding for these programs that work. Can you explain that to me? 

Ms. PATENAUDE. To clarify, I did not say, you know, the specific 

amount on what I would advocate for, but I am—certainly there 

are programs that have been very effective at HUD, and along with 

that I would be making—I can imagine that I would be making recommendations to streamline some of these programs. I am very 

hopeful that we will come up with new solutions working with this 

Committee and your staff to address the changing housing needs 

in this country. 

Senator BROWN. Thank you. I want to give a moment to your 

partner there. 

A little over a decade ago, there was a debate over whether the 

economic growth rate assumed by the Social Security trustees was 

too pessimistic, in line with Chairman Crapo’s question. You coauthored a paper then that defended that rate, 1.9 percent, over the 

more optimistic 3-percent growth rate that we had experienced 

over the previous four decades. I think that was rather prescient 

of you. Part of your reasoning was that prudent planning for the 

future should actually place more weight on the downside risk than 

on the upside potential. Now that it is conservatives who want to 

assume their way to balance, do you believe a 3-percent growth 

rate over the next decade really is warranted—I heard your comments to the Chairman—when the consensus among the Fed, the 

Blue Chip forecasts, and the Kevin Hassett of 2006 is on the order 

of 1.9 percent? 

Mr. HASSETT. Senator, again, I do not want to take up too much 

time, but for sure if we do not change policy, we can expect to stay 

around 2 percent. I think if you look at the Blue Chip forecasts, 

they do not envision the kind of sweeping tax changes that we experienced in a bipartisan fashion in 1986 and that have been proposed in the House’s—— 

Senator BROWN. So if I can interrupt, I am sorry. 

Mr. HASSETT. Sure. 

13 

Senator BROWN. So that 3 percent is really contingent on getting 

real tax reform, not just a tax cut. You know from your years in 

the Bush years that two significant cuts went overwhelmingly to 

the wealthy and there was literally zero—zero—private sector net 

job growth in those 8 years. So you are arguing that only if we do 

real tax reform, not just tax cuts but real tax reform, can we get 

anywhere close to the assumed 3 percent? 

Mr. HASSETT. I think that is a fair assessment. 

Senator BROWN. OK. Thank you. 

Let me take my last 3 seconds—sorry, Mr. Chairman. I want to 

talk about lead for a second because of your boss the Secretary of 

HUD’s comments as the nominee, Nominee Carson rather than 

Secretary Carson. I am particularly troubled by the proposal on reducing funding for HUD’s lead grants and eliminate HOME and 

CDBG use for home repairs and other activities. As I mentioned 

briefly, most of the homes in Cleveland, most of the homes in Appalachia, most of the homes in Dayton and Cincinnati and Youngstown are at least 50 or 60 years old. The head of the Cleveland 

Health Department said literally 99 percent of those homes have 

toxic levels of lead. 

Share your thoughts on the effects of childhood lead poisoning in 

this country and the role that HUD can play to eliminate it. 

Ms. PATENAUDE. Thank you, Senator Brown. I appreciate hearing 

your concerns. Yesterday Dr. Carson proclaimed June ‘‘Healthy 

Homes Month’’, and he released a video. I did not watch the entire 

video because I was preparing for today’s hearing, but the video addresses lead. So I believe that Secretary Carson is very committed 

to this issue and will continue to be. 

The budget, as I understand it, it was level funding until the omnibus, so under the CR, that level of funding is what was requested 

in the proposed budget. It was not until after the omnibus was 

passed that it actually became a cut. But I think the level of support is significant. 

Senator BROWN. Well, that is a matter of opinion. The original 

CDBG proposal was deep cuts. 

Chairman CRAPO. Thank you very much. 

Senator Corker? And I do remind my colleagues to hang in there 

with that 5-minute rule. 

Senator CORKER. Yes, sir. I just want to get ready before my 5 

minutes. 

[Laughter.] 

Senator CORKER. They have not started yet. 

Ms. Patenaude, I want to thank you for your willingness to serve. 

We had a very good meeting in the office, and numbers of people 

that I have worked with in housing speak very highly of you, and 

I look forward to your confirmation. 

Mr. Hassett, your wonderful family is here, and I know that, you 

know, you are one of the nicest folks I have met that is coming 

through. And I know that when we met, on the other hand, by the 

time the meeting was over, my temperature was about to take my 

head off as I thought about the fact that think tanks that you have 

been a part of, of course, but so many think tanks here in our 

Washington community make the perfect the enemy of the good 

and really can be very destructive—very destructive, as we disVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00017 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
14 

cussed—as we try to move ahead and actually pass legislation that 

accommodates some commonality on both the Republican and 

Democratic side. And, actually, the think tank that you have been 

a part of has played a big role in trying to undermine actually bipartisan efforts that we have put together here on the Committee. 

You and I discussed that fully. And as I thought about it, I thought 

about a person coming into the White House that had been ‘‘in an 

ivory tower,’’ if you will, sitting over at a think tank, writing perfect things in a perfect world. I then began to question whether 

someone like you would even be good in this position. 

Now, let me say this: As my temperature cooled down and I 

thought a little bit more about, you know, your past, obviously you 

are qualified for this job, but can you talk with me a little bit about 

the role that you will be playing there and hopefully share a little 

bit of understanding about the fact that we live in a world where 

we represent 320 million people here, and sometimes, you know, 

economists sitting over in a think tank that have nothing in the 

world to consider but perfect do not always help us in a constructive way as we try to move the country ahead. 

Mr. HASSETT. Thank you, Senator, and thank you for your time 

in your office. I can tell you that I think a hallmark of my career 

is that I have never been that person who says that the perfect is 

the only thing that you should do, and if you do not do that, then, 

you know, you are someone who is a traitor to economics. In fact, 

I think that I have worked collegially with people on all sides on 

pretty much every issue that I have ever been involved in. 

I think that at the Council of Economic Advisers in particular, 

the role of the CEA is to provide objective advice about what decision makers do. I think that the problem of governing is often one 

that there are a lot of decisions that have to be made, and they 

have to be made urgently, and we need expert analysis to inform 

those decisions. And someone who says, ‘‘Well, in a perfect world, 

with perfect markets, here is what you ought to do, and if you do 

anything else, then’’—— 

Senator CORKER. Well, actually, that is not what people say. 

They just say, ‘‘This is the only way for it to occur,’’ because the 

perfect is the enemy of the good. They are not saying in a perfect 

world. They are actually undermining legislative processes that 

have to take into account, you know, different temperaments, if you 

will, different values that are part of democracy. So it was not really that. It was really just the straight undermining of bipartisan 

efforts here on the Committee. 

Mr. HASSETT. Sir, at the American Enterprise Institute, there 

are people with very strong opinions, and they do not take my advice about what their opinions should be. But I can assure you that 

that is not the way I would behave if confirmed. 

Senator CORKER. Who will you report to there? 

Mr. HASSETT. The President, sir. 

Senator CORKER. So not through Gary Cohn but directly to the 

President. 

Mr. HASSETT. The Council of Economic Advisers was established 

in 1946, and by statute it is quite clear, yes. 

Senator CORKER. You wrote a book in 1999 about ‘‘Dow 36,000’’ 

by 2009. I noticed it was at 10,428. What happened? 

15 

Mr. HASSETT. Sir, I think that one critic of mine once looked at 

that book and called it a ‘‘youthful indiscretion,’’ and I think that 

as youthful indiscretions go, it was not such a bad one. I think the 

motivation of the book then was to make sure that people understood how to think about equities and how important it was, if you 

can be a long-run investor, to invest in equities because they are 

a good investment in the long run but not in the short run. And 

I think that looking back, folks that bought and held were glad 

that they did. 

Senator CORKER. So I know the President has said some things 

about trade, and you are a full-blown free trader. Is that correct? 

Mr. HASSETT. Historically, yes, sir. That is right. That is what 

I have—— 

Senator CORKER. And he has also mentioned some things about 

hedge fund taxation. You are a low carried rate—carried interest 

rate person on hedge funds. I wonder if you might expand a little 

bit on that. 

Mr. HASSETT. I have written one piece on carried interest, sir. It 

is in the journal Tax Notes, coauthored by Alan Viard, a fellow 

economist at AEI, and we just analyzed the law of carried interest 

taxation and how it relates to partnership taxation. I think one of 

the main points of the piece, written many years ago, was that 

partnership law is what is applied to carried interest taxation, and 

so to change carried interest taxation would require writing a new 

special provision. 

Senator CORKER. Thank you for your desire to serve, and I look 

forward to serving with you. 

Mr. HASSETT. Thank you, Senator. 

Senator CORKER. Yes, sir. 

Chairman CRAPO. Thank you, Senator Corker. 

Senator Warren. 

Senator WARREN. Thank you, Mr. Chairman. And thank you 

both for being here and for your willingness to serve. 

I want to follow up on Senator Brown’s questions with a little 

more detail about the budget, and I want to focus in on housing. 

According to a report earlier this year from the National Low-Income Housing Coalition, there is a shortage of about 7.4 million affordable rental units in this country. Millions of families are now 

forced to spend more than half their income on housing, on rent. 

The Department of Housing and Urban Development is responsible for addressing this crisis, but President Trump’s budget now 

calls for cutting HUD’s budget by $6 billion. That would be a 13- 

percent cut. 

Ms. Patenaude, if you are confirmed, you would be responsible 

for overseeing HUD’s housing programs, so I want to know where 

you stand on some of the specific cuts in the President’s budget. So 

let me start with CDBG. The President’s budget called for eliminating all Community Development Block Grants. All of them. 

That is $3 billion that currently helps fund shelter for people with 

special needs, that helps build nursing homes, that helps create 

homes for veterans, that helps create shelters for victims of domestic abuse. This proposed cut would hurt some of the most vulnerable people in Massachusetts and all across this country. 

Do you support eliminating this funding? 

16 

Ms. PATENAUDE. Thank you, Senator Warren. The CDBG pro- gram has been around for over 40 years, and $150 billion has been 

dedicated to this program. 

Senator WARREN. So do you support eliminating all funding for 

the CDBG program? 

Ms. PATENAUDE. During the last two Administrations, there were 

significant cuts proposed in the budget for CDBG, and I believe 

that was due to the lack of targeting for the program. 

Senator WARREN. So I am still asking the question. Do you support eliminating the CDBG program or not? It is really a pretty 

simple question. 

Ms. PATENAUDE. I support the President’s proposed budget. 

Senator WARREN. So you support eliminating—— 

Ms. PATENAUDE. I was not involved in the negotiations of—— 

Senator WARREN. I did not ask whether you were involved. You 

have now read it like the rest of us have. I was not involved either, 

but I have a very strong opinion about it. Do you support eliminating all of the Community Development Block Grants that are 

used to support housing? 

Ms. PATENAUDE. I certainly would support reforms to CDBG, and 

the—— 

Senator WARREN. Do you support the cuts in the President’s 

budget? This should not be an arm-wrestling contest here. It is a 

yes or a no. You either support where the President is or you do 

not. 

Ms. PATENAUDE. Well, I did. I did state that I support the President’s—— 

Senator WARREN. OK. You do support all of these cuts then. OK. 

We got it. You know, there are going to be a lot of people who are 

going to be hurt by that. Donald Trump’s budget also eliminates $948 million in funding 

for the HOME Investment Partnerships. Now, HOME funding 

helps States build and rehabilitate housing for low-income families. 

Organizations in Massachusetts rely heavily on HOME funding to 

create more livable, affordable housing units. 

So, Ms. Patenaude, there is a housing shortage of more than 7 

million affordable housing units in this country, and this proposed 

cut would make that shortage worse. More people will end up on 

the street. More women, more children, more veterans, more seniors, more people with disabilities. It is that simple. Do you support 

elimination of this funding? 

Ms. PATENAUDE. Senator, the HOME Program has grown, the 

number of recipients, participating jurisdictions, over the years, 

and the grants are getting smaller and smaller and more difficult—— 

Senator WARREN. So do you propose—do you support eliminating 

funding for this program? 

Ms. PATENAUDE. I support the President’s proposed budget. 

Senator WARREN. So you support eliminating it. That is going to 

hurt a lot of people, too. 

More than any other Federal agency, HUD is how Americans 

help friends and families in need. It is not about handouts. It is 

about helping people find decent, safe places to live so that they 

can raise their kids, so they can go to school, so they can get a job. 

17 

The President’s HUD budget attacks those who need help. It attacks seniors, it attacks children, it attacks veterans, it attacks 

people with disabilities, it attacks abused women. It attacks people 

trying to put their lives back together. It is a disgrace, and anyone 

who cares about housing in this country should oppose it. 

Mr. Chairman, I yield. 

Chairman CRAPO. Thank you. 

And, Senator Rounds. 

Senator ROUNDS. Thank you, Mr. Chairman. 

Ms. Patenaude, I would kind of like to just follow up a little bit 

on the conversation that you began with Ranking Member Brown, 

and I am just curious. With regard to the President’s budget and 

so forth, and the allocation of scarce resources through HUD, could 

you share with us a little bit perhaps how you would prioritize— 

I mean, nobody is going to have as much money as we want to 

have, and yet there are some very important projects out there. I 

am certain that you have had a chance to look at where your priorities would be. Can you share with us a little bit what you would 

see as the priorities and how you would use the dollars that are 

allocated and where you would like to see the focus at with regard 

to the use of scarce resources? 

Ms. PATENAUDE. Thank you, Senator Rounds. The priority has 

been for a long time to target to the most vulnerable populations, 

so I certainly support the continuation of that. I would also support 

programs that have a proven track record that we can measure the 

performance. But with that said, I would also like to look at reforms of some of these programs that I would certainly support in 

a future budget. 

Senator ROUNDS. So as you take a look at all of these, one of the 

areas that we have got concerns with is in Native American housing and so forth, particularly in the Dakotas, where we have large 

land masses, large areas, but basically a very scarce population. 

We have found time and again that we really do lack housing in 

those areas, and to us, we are talking about some of the poorest 

counties in the United States, actually, where they are on the reservations, and they really do rely on assistance, particularly when 

it comes to housing. 

Would you see it appropriate that in those areas where you can 

evaluate and you see that these are perhaps some of the poorest 

and some of those that are most in need, are these the types of 

areas that you would consider prioritizing with regard to the resources that are available? 

Ms. PATENAUDE. Yes, Senator. As I mentioned during our meeting, I have limited exposure to Indian country and look forward, if 

I am confirmed, to visiting Pine Ridge with you so I can get a better understanding of the needs. But I was surprised to learn about 

the number of barriers to construction with the lands, and I certainly would like to look at ways to work—you have more barriers 

than even normal circumstances for development, so I would like 

to look at ways where we can help reduce those regulatory barriers 

to development, use of the tax credit program in Indian country. 

I think it would be a high priority. 

Senator ROUNDS. OK. Last year, Congress passed the Housing 

Opportunity Through Modernization Act by unanimous votes in 

18 

both chambers. This legislation was the first substantive housing 

reform enacted by Congress in decades. Among the many reforms 

in the legislation were provisions that helped address homelessness, reduce the administrative burdens on the public housing authorities and other organizations that HUD works with, and provisions that further incentivize Americans who use HUD to find 

work and provisions that help improve the quality of life for residents of public housing. 

How do you think that Congress can continue to build on this 

progress in the future? As you have looked, what other barriers do 

we—what have we actually set up that we need to take a look at 

in terms of improving to make the job of actually helping these individuals more realizable? 

Ms. PATENAUDE. Senator, the President has actually requested 

that each agency review their regulations, and I think there are 

numerous regulations that are on the books that are outdated, no 

longer necessary. I believe that if we are going to make a difference, we have to look at barriers at the local level, the State 

level, and the Federal level, and particularly at the local level. All 

zoning is local; all real estate is local. And I think HUD needs to 

help these communities see that there is indeed barriers, unnecessary barriers sometimes, to development. 

Senator ROUNDS. The CDBG Program, Community Development 

Block Grants, is an area that we have really relied on at the State 

level. During the time that I worked as Governor in South Dakota, 

we used CDBGs. I really think that Governors and local units of 

Government have a real sense of where the resources can be put 

to use the best. And in many cases, these products can be used to 

create infrastructure, to improve infrastructure, to upgrade infrastructure. That really makes a huge opportunity for individuals to 

see an improvement in their quality of life in smaller communities 

as well as some of the inner-city communities. 

I am just curious what your thoughts are about the use of Community Development Block Grants, your support for them, and 

whether or not they have been an effective tool in your view. 

Ms. PATENAUDE. Senator, you certainly have more experience, 

having been the Governor, in utilizing CDBG. But, of course, we 

do have success stories with it, but I do not believe that the 

amount of money that is available to the grantees is significant 

enough to make, you know, infrastructure investments, and I believe that the President’s infrastructure bill perhaps is a better 

place to address infrastructure, water and sewer, than through the 

CDBG. 

Senator ROUNDS. I most certainly think that additional resources 

would be welcome and that when we start talking about investment in infrastructure, I think the fact that we could look at areas 

in which it would actually improve housing by creating infrastructure that promotes more housing is a really good thing. But I am 

also glad to hear that you think that maybe there were not enough 

resources put into CDBG as well to actually make a difference, because we would like to talk to you about perhaps increasing that 

in the future as well. 

Ms. PATENAUDE. Thank you, Senator. 

19 

Senator ROUNDS. Mr. Chairman, with that, thank you. My time 

has expired. 

Chairman CRAPO. Thank you. 

Senator Donnelly. 

Senator DONNELLY. Thank you, Mr. Chairman, and thank you 

both for being here. 

Ms. Patenaude, during your recent visit, we discussed the crisis 

in East Chicago, in Indiana, where the lives of more than 300 families were upended and put at risk due to the presence of significant 

levels of lead and arsenic in our soil. HUD has helped most of the 

residents find new housing. Local officials are pursuing emergency 

HUD funding for the safety and the security and the ultimate demolition of the complex. Can I have your commitment that, if confirmed, you will advocate for HUD to dedicate the resources needed, including emergency funding, to assist these residents and the 

local officials in getting this situation taken care of? 

Ms. PATENAUDE. Yes, Senator Donnelly, you have my commitment, and I believe that Secretary Carson is committed to this 

issue as well. 

Senator DONNELLY. Yes, I think we are working right now with 

his staff to find an exact date for him to come to East Chicago so 

he can witness it firsthand. 

When I was in the House of Representatives, I served on the 

House Veterans’ Affairs Committee, and far too many veterans, as 

we all know, that served our country find themselves sometimes 

without a home or a place to put their head down at night on a 

pillow. We need to continue efforts to address this problem, and 

that includes the Veterans Affairs Supportive Housing Program 

from HUD and VA. 

I was troubled to see that the recent HUD budget proposal did 

not include any additional funding for new HUD VASH vouchers, 

and the broader Tenant-Based Rental Assistance Program is set for 

a funding cut. 

How can we help end veteran homelessness when we are cutting 

the very programs intended to help them? 

Ms. PATENAUDE. Senator Donnelly, in preparation for the hearing, I met with the career staff and met with the director of the 

homeless programs at HUD, and during that briefing the staff informed me that the allocation of vouchers that they currently have 

are sufficient to address the veterans’ needs. And I found that to 

be somewhat surprising, so I asked again, and then I did some research. Obviously, there is going to be a difference of opinions depending on who you talk to, but I do trust that the career staff that 

are running the homeless programs, administering the homeless 

programs, have the data to make an informed decision. So I accept 

their recommendation that the current allocation is sufficient to address this issue. 

Senator DONNELLY. OK. Well, we would love to see all that data 

because, you know, the concern, the thought, the heartbreak of one 

veteran who does not have a place to go home to or is in a facility 

that is nowhere near what they should be able to expect in terms 

of living conditions is something that we owe to every single veteran. 

20 

How do you plan to utilize HUD’s resources to help house our 

homeless veterans? 

Ms. PATENAUDE. The allocation of the vouchers is based on a formula for veterans for the VASH Program, and I would like to look 

at this. If I am confirmed, I would like to look into how we can reallocate so that the homeless veterans in need of the voucher and 

the support services that they are not currently reaching, that we 

can get this assistance to the veterans. 

Senator DONNELLY. Communities such as Gary, Indiana, have 

benefited from blight elimination funding, but there are still really 

big needs. The population declines there have led to a plague of 

abandoned and neglected buildings, resulting in increased crime 

and resulting in distressed sections. The main funding source for 

Gary to battle housing blight, and other cities, is the Community 

Development Block Grants, the CDBGs, but the President’s budget 

eliminates this program. 

How can we help cities like Gary combat housing blight if the 

CDBG Program is eliminated? 

Ms. PATENAUDE. Senator, there are other programs, there are 

other funding streams that can be used for demolition. I think the 

tax credit program, when you are looking at perhaps, you know, 

new construction or preservation of affordable housing is another 

funding stream that could be used. 

Senator DONNELLY. Well, we would like to work together with 

you because I think the elimination of CDBG makes this much, 

much more difficult, makes it much, much more challenging. And 

this is not a situation where there is not a need. All you have to 

do is walk around the streets and walk around town. And, actually, 

you can just drive by on the highway and see it right from there, 

some of the same houses that have been abandoned for a very long 

time. 

Mr. Hassett, I do not want you thinking that I was trying to ignore you. I wanted to ask you about the desire to see financial deregulation and the concerns I have about all of that. I was serving 

on the Financial Services Committee during—and I have to ask 

this quickly—the most difficult and challenging times we had in 

2008, 2009, and 2010. Dodd–Frank was put in place to ensure safety and soundness. When we saw the dot-com bubble occur and then 

we saw collateralized debt obligations and similar things, I would 

love to hear from you, do you see any bubble on the horizon that 

should concern policymakers? And what is your biggest concern? 

You know, I always try, after that experience, to look at worst-case 

scenarios so that it never happens again because it destroyed my 

State in terms of employment and other areas. What do you see as 

the biggest challenge out there right now, the thing that concerns 

you the most? 

Mr. HASSETT. Financial regulation, Senator, is not my immediate 

area of expertise. But, you know, economists study—— 

Senator DONNELLY. Well, you have written books about the—— 

Mr. HASSETT. Not on financial regulation, and the financial markets are very complex. They are what economists call ‘‘incomplete,’’ 

which means that they can at times act in incredibly befuddling 

ways. And anyone who has seen ‘‘Mary Poppins’’ and saw what 

happened to a bank understands the importance of financial reguVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00024 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
21 

lation. As financial markets evolve, it is really important that regulation—— 

Senator DONNELLY. Well, what I was asking you was if you had 

one thing to keep an eye on or to worry about right now, what 

would it be? 

Mr. HASSETT. I think that—— 

Chairman CRAPO. A short answer. 

Senator DONNELLY. Yes, sorry about that. 

Mr. HASSETT. I think that we have got a recovery that is very 

long in the tooth. Recoveries very often end of old age, and that is 

something that we need to be attentive to and think about policies 

that we can adopt that would extend the recovery. 

Senator DONNELLY. Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you. 

Senator Scott. 

Senator SCOTT. Thank you, Mr. Chairman. Thank you to the 

both of you for being here this morning. 

Good morning, Ms. Patenaude. Good to see you again. Thank you 

for coming by the office and having a good conversation about the 

direction of HUD. Certainly as we have had a lot of questions 

about the President’s budget, I think it is important to note that 

while we in Congress will have the opportunity to negotiate and 

wrestle with the outcome of the budget requirements and priorities, 

your responsibility will be to take whatever is given to the Administration, to the Department, and do as much good as possible. 

Speaking of as much good as possible, we talked a little bit about 

the importance of treating the whole person as a part of the HUD 

approach. Myself, I will be joining Senators Blunt and Reed in introducing the Family Self-Sustainability Act. The bill cuts Department costs through consolidating redundant programs, and at the 

same time it expands the scope of the FSS Program to provide 

more residents access to job training or help in attaining a GED. 

Lower costs, more self-sustainability, I think that is what we call 

a ‘‘win-win.’’ 

What would be your approach to treating the whole person at 

HUD? 

Ms. PATENAUDE. Well, certainly public–private partnerships 

would be a critical component to that. The communities that have 

the resources are certainly better positioned to be able to help. But 

I believe that the private sector as well as local government can 

play an enormous role in helping to facilitate programs, whether it 

is, you know, after-school programs or these centers, the vision centers that Secretary Carson has talked about during his listening 

tours. So I really do believe that we need to look to the private sector to help rebuild some of these communities. 

Senator SCOTT. Thank you very much. I look forward to your confirmation. 

Dr. Hassett, thank you for your work at AEI. I have watched you 

from a distance and certainly appreciate your commitment to our 

economy, and certainly the way that you have said things paints 

pictures, like ‘‘long-toothed recovery.’’ Interesting. 

You have also said that while certain areas of the country are 

doing remarkably well, the recovery has profoundly been uneven 

22 

with large swaths of the country facing chronic rates of long-term 

unemployment and historically low levels of new investment. 

Can you elaborate on the social and economic cost of this uneven 

economic recovery? And, also, what could we do to bring more resources into distressed communities? 

Mr. HASSETT. Thank you, Senator. I think that one of the things 

that economists have learned in really the last decade of research— 

it was really startling to me how extreme it was—was that there 

are so many people that, if they lose their job and they do not get 

a job back in a little while, then they start to despair, and they 

start to have personal problems, and often it can happen that it 

turns into a spiral that takes them to a very bad place. And we 

know that there are pockets of our country where, because a mill 

closed like in my home town, there are a number of people that end 

up having substance abuse problems and so on. Nobel Prize-winning economist Angus Deaton and Anne Case just wrote a really 

moving piece on this. 

And I know that when I give economic talks around the country, 

if you ask Americans about this problem, they recognize it. And 

something that I have noticed is that everyone wants to do something about it. Everybody does. But they do not know what to do 

about it, especially the really concentrated geographic inequality. 

And so I think that what we need to do is think of ways not only 

with policies but individual-by-individual that we could help people 

make a difference, because I know that Americans want to. 

Senator SCOTT. Yes, sir. Well, I know there are two individuals 

who have been working on this, myself and Cory Booker being 

those two individuals. We have legislation called the ‘‘Investing in 

Opportunity Act’’, which seeks to defer the capital gains tax up to 

7 years if folks are willing to reinvest those capital gains into distressed communities using the New Market Tax Credit designation. I would love for you to take a look at the legislation and come 

back with some thoughts on how we might have some success in 

impacting long-term poverty and unemployment in those distressed 

communities. 

Mr. HASSETT. Thank you. If confirmed, I would really look forward to working with you on that. 

Senator SCOTT. A final question, since I have, I guess, according 

to the folks who have asked questions before, 2 minutes and 38 seconds left in this conversation. I thought it was funny, too. You are 

next. 

So the question I have is on the whole notion of the workforce 

participation rate as you just described the impact of long-term unemployment makes it very difficult to return to the workforce; 

hence, our workforce participation rate has been declining for the 

last 8 or 9 years. 

I think about the economy to come, the gig economy or the 

shared economy, the technology economy. It seems like our focus on 

workforce investment is going to be a very important part of how 

to navigate the future challenges that will displace millions of 

workers in a way that we have not seen in the past. How do you 

factor that into the goal that we have of growing our economy? 

Mr. HASSETT. Thank you, Senator. It is really an urgent call for 

us to address the problem that the share of our population working 

23 

is something like 27th out of the 35 OECD countries, that we need 

to help people get back to work. And I think that the sharing economy can be part of that, but also presents a number of challenges. 

Senator SCOTT. Thank you, Mr. Chairman. 

Chairman CRAPO. Thank you. 

Senator Cortez Masto. 

Senator CORTEZ MASTO. Thank you, Mr. Chairman and Ranking 

Member. And welcome to both of you, and thank you for the time 

that you spent with me in my office talking about the issues that 

obviously are important to so many of us, particularly in Nevada 

as well. And it is nice to see your family here. Welcome. And I appreciate your commitment to public service. 

Dr. Hassett, let me start with you, and we had this conversation, 

and let me just follow up with this. In 2013, you said in a written 

research piece, ‘‘With lackluster GDP growth threatening to become 

our new normal, allowing more immigrants to enter for the sake 

of employment is one of the few policies that might restore our old 

normal. If the U.S. doubled its total immigration and prioritized 

bringing in new workers, it could add more than half a percentage 

point a year to expected GDP growth.’’ 

And despite the clear evidence indicating that you are correct, 

here we are in 2017 with the Administration pursuing precisely the 

opposite policies. In fact, the President’s policy of mass deportation 

is sparking panic and fear in many Latino communities, causing 

consumer spending to fall by double digits. This is threatening 

these communities’ confidence in the economy just as it was starting to be restored after the financial crisis—and, by the way, a financial crisis that was hardest hit in Nevada. 

So the question I have for you is: Is what you said in 2013 still 

true about immigration and economic growth? 

Mr. HASSETT. Thank you, Senator. I think that there are a lot 

of policy angles on immigration. One of them is border security. I 

am not a border security expert. But economists are very good at 

mapping inputs into outputs, and if we have more input of labor, 

we will get more output. 

My ancestors are Irish immigrants. They were not allowed in the 

country because they had a computer degree, I presume. I think 

that immigrants in this country have been an important source of 

growth. Entrepreneurship is flailing right now in our economy, but 

high-skilled immigrants are about twice as likely to be entrepreneurs. And so I think that any immigration policy, comprehensive immigration policy, would have to recognize all the policy challenges and the simple economics of inputs and outputs. 

Senator CORTEZ MASTO. So what you said in 2013 still holds 

true? 

Mr. HASSETT. I do not know if I would advocate specifically for 

a number of exactly how much immigration should go up or anything like that, and that is certainly not the role of the CEA—— 

Senator CORTEZ MASTO. But you would agree—— 

Mr. HASSETT. ——but if there were more workers, we would have 

more outputs, Senator. 

Senator CORTEZ MASTO. Thank you. I appreciate that. 

In the past, you have characterized Wall Street reform as ‘‘the 

worst piece of legislation that I have seen in my entire life,’’ and 

24 

that the law ‘‘needs to be repealed as soon as possible.’’ Is it still 

your view that Wall Street reform should be repealed? 

Mr. HASSETT. Senator, I would have to look back at what I was— 

I do not recall this. I would have to look back at what I was talking 

about and get back to you on that. It would take more to review 

what it was I was talking about and why I was so adamant about 

it. I am not usually so strident, and so I would really have to review it. So I would look forward to getting back to you on the 

record. 

Senator CORTEZ MASTO. So let me just say this, because Nevada, 

I just said, came out of the worst financial crisis that we have seen 

since the Great Depression; and if we are going to continue to 

make economic progress, we cannot eviscerate the rules that we 

have put in place after the collapse. So I would hope you would 

consider that and take that into consideration when you are looking at this. 

Mr. HASSETT. Thank you. 

Senator CORTEZ MASTO. Thank you. 

Ms. Patenaude, thank you again for the conversation. Let me say 

this: I am absolutely concerned about the conversation we just had 

about eliminating the CDBG, which is proposed in the President’s 

budget. As somebody who has worked at the local level in local government and at the State level in the State of Nevada, I know that 

that money is crucial to what we do in Nevada when it comes to 

homeless services in our rural communities like Lyon County, 

transportation for seniors in Nye County, and Catholic Charities 

Food Pantry in Clark County, as well as Meals on Wheels and so 

many other important services. 

So let me ask you this, because I know we had this conversation. 

I heard what you said. You support the President’s budget, which 

concerns me because he eliminates the CDBG, which is about $20 

million coming into the State of Nevada. But let me give you an 

opportunity, because you also talked about reform. Would you 

eliminate it or reform it? 

Ms. PATENAUDE. Thank you, Senator, and I appreciated the time 

that we spent together. I learned a great deal about your State and 

the challenges you are facing there. 

As I mentioned earlier, as the President’s nominee, I support the 

President’s budget. Going forward, as a lifelong houser, I would 

certainly be advocating for programs with proven track records. 

When I mentioned reform, CDBG is certainly a program that we 

have had a very difficult time measuring the performance and the 

outcomes. And I do believe that the allocation—the amounts that 

are allocated are oftentimes not enough to make a significant impact. 

Obviously, there are many exceptions to what I am saying, but 

over the years, under both Democrat and Republican administrations, there have been cuts to the CDBG Program. 

Senator CORTEZ MASTO. And I appreciate that, and in our conversation you mentioned how you have strengthened CDBG accountability and transparency during your previous tenure at 

HUD, and I appreciate it. So why not build on that previous work 

instead of eliminating that program? And that is the concern I 

have with this discussion today. 

25 

I understand my time is up. There are others that I will submit 

for the record, and I appreciate you being here today. Thank you. 

Chairman CRAPO. Thank you. 

Senator Tillis. 

Senator TILLIS. Thank you, Mr. Chair. Thank you both for being 

here, and congratulations on your nominations. 

Mr. Hassett, I will start with you. I want to go back just briefly 

to the discussion about immigration. The point of your report had 

to do with, I would assume, legal immigration, guest worker programs, H–1 at one end of the spectrum to H–2A and -B at the 

other end of the spectrum, because they create an economic multiplier. And I think some would even argue that they create American jobs as a result of that reliable, predictable guest worker program that ebbs and flows in this country, and it is something that 

we need to get fixed. Was that the essence of your analysis? 

Mr. HASSETT. Yes, sir. 

Senator TILLIS. I have to tell you, I am looking forward to supporting your nomination, but now it is with a little asterisk after 

I read your report on Deflategate because I am not a Patriots fan. 

But I am sure the folks in New England love you. But, no, I 

thought it was remarkable. It is actually going to have to make me 

go back and change my Mac Talk, but I am not going to use the 

hearing here to drill into that. 

I do want to talk a little bit about a report. You are very well 

published and a very impressive list of writings. One that I wanted 

you to spend maybe a minute or two on is ‘‘Spending, Taxes, and 

Certainty: A Road Map to 4 [percent GDP]’’. In your current role, 

how would you cut through all the noise that we have right now 

and emphasize what we think we have to do to build the momentum to actually get to a sustainable 4 percent GDP growth? 

Mr. HASSETT. Thank you, Senator. I think that it is essential, if 

we are to move forward and make the policy changes we need to 

get higher growth, that we have to build consensus by having rigorous modeling that draws on empirical evidence and is replicable 

and transparent. 

Senator TILLIS. But is it purely based on tax policy? Is it regulatory policy? In other words, what are the fundamentals, what are 

the top-line issues that people can understand that do not necessarily have your expertise that we as Congress Members should 

focus on? 

Mr. HASSETT. And thank you for referencing the specific article. 

There are a number of challenges. One is tax policy, one is regulation, to make sure that they pass cost-benefit tests. Another is to 

look at the long-run budget balance and to help remove uncertainty 

about what the future holds, because we have not fully funded the 

promises that we have made. If you look back at each of those, the 

countries that have sort of gotten their act together on those things 

have experienced surges in growth, and I think that there is every 

reason to expect that that could be an opportunity for the United 

States. 

Senator TILLIS. I agree. 

Ms. Patenaude, I wanted to give you an opportunity to talk— 

CDBG is something anybody who has worked in State government 

knows about, knows the impact that it can have. But I know that 

26 

HUD has 100 or more programs and then sub-programs, duplicative efforts, some are working, others are not working. When Dr. 

Carson and I met before his confirmation, I asked him if he was 

going to focus on people who would come in, rationalize the programs, with the goal of—do you believe within the President’s 

budget, if he zeroes out CDBG, do you think that the Administration simply wants to turn their back on the 11 million households 

that spend 50 percent of their income on rent and utilities? Or do 

you think they are trying to come up with a more efficient way to 

do it to produce more resources to people that need it? 

Ms. PATENAUDE. Senator Tillis, thank you for that question. I absolutely believe that the Administration is not abandoning the population that you referred to, but that we need to be more creative. 

We need to harness the power of the private sector. We need to 

work with local communities to help reduce the barriers. The cost 

of building has become prohibitive in so many places in this country, and it can contribute—regulatory barriers contribute to up to 

35 percent of the cost of a unit or a home, so there is certainly an 

opportunity there. 

As far as the HUD programs, I just wanted to add on CDBG, we 

tried to—we proposed formula reform back in 2005, and we were 

not successful with the reforms at that time. 

Senator TILLIS. I think that if we are going to get to a point to 

where we are producing more resources to people who desperately 

need it, then we have to be open to a different way of addressing 

the needs. And I think that we have a lot of duplication, we have 

a lot of inefficiency, and it is at the—while you can pick—and 

CDBG is personally very important to me right now because we 

were successful with getting $334 million through the CDBG Program for Hurricane Matthew relief. 

So it is a vehicle that I am using today, but if you can give me 

a more effective, more efficient vehicle that gives me more productivity for those dollars that we are allocating to the States for housing, for disaster relief, that is what we need in HUD. We need to 

go back, revisit it, make it leaner, and get it to a point to where 

the dollars that are going to these programs are ultimately affecting lives, not funding programs. 

Thank you. I look forward to your confirmations. 

Ms. PATENAUDE. Thank you. 

Chairman CRAPO. Thank you. 

Senator Reed. 

Senator REED. Well, thank you, Mr. Chairman, and thank you to 

the witnesses. 

First, Dr. Hassett and I had the opportunity to collaborate together in the Work Share Program. I am extraordinarily impressed 

with not only his knowledge but his thoughtfulness and his analytical skills. We do not always agree, but we do agree on Work 

Share. And in that vein, Dr. Hassett, I would hope in your new role 

that you would continue to promote this as an option in every 

State. I know with your help we have expanded it to about 19 or 

20 States. Could you comment on that? Is that an appropriate way 

to deal with—— 

Mr. HASSETT. Thank you, Senator. In fact, I commend the Senator for his leadership on this issue. There is now an empirical litVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00030 Fmt 6633 Sfmt 6633 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
27 

erature evaluating your efforts that says that Rhode Island really 

outperformed a lot of other States because you not only helped 

States change their unemployment insurance to help it serve workers better, but you made sure that the people of Rhode Island knew 

that they could take advantage of this Federal program. And I 

know that now there is, you know, hard, peer-reviewed evidence 

that that was successful. 

I think that, absolutely, if unemployment insurance reform were 

to be on the agenda again, there is now a large body of economic 

evidence that would support extending efforts in that direction. 

Senator REED. Thank you very much. 

Mr. HASSETT. Thank you. 

Senator REED. Ms. Patenaude, thank you again for your service 

prior in the previous Administration but also your efforts. One of 

the issues that came up with Secretary Carson was I asked him to 

kind of work with me and others to maintain the U.S. Interagency 

Council on Homelessness, and yet I see in the budget it has been 

zeroed out essentially. Senator Collins and I have legislation to restore it. Interestingly enough, you served on the Council from 2005 

to 2007. Will you support our efforts to restore it? And if not, what 

is the option to coordinate all these different programs? 

Ms. PATENAUDE. Senator Reed, thank you very much. The Interagency Council on Homelessness was certainly unique at the time. 

We did not on a regular basis collaborate with other Federal agencies. As I mentioned, I had never been in the Department of Transportation or the Department of Health and Human Services. The 

only interaction I had, as well as VA, was during these meetings 

at the Interagency Council, and I think the Interagency Council 

perhaps has outlived, you know, its time because now collaboration 

is expected, it is part of, you know, the Performance Management 

Agenda, and I would like to take a look at how the Interagency 

Council is working right now. After our meeting, I did go online, 

and certainly it is a source of a lot of data, but that perhaps is duplicating efforts at HUD. 

So if I am confirmed, it is something that I would really like to 

look into and, you know, give more consideration to the Council before I could make a definitive decision on that. 

Senator REED. Well, I wish you would. Again, our legislation, 

Senator Collins and I, would extend or eliminate the sunset date 

in the Council, so it would give it sort of a long-term existence, and 

I would very much like you to look at it and get back to us. 

I can recall, again, serving as the Ranking Democrat on the Appropriations Committee for HUD, having a hearing with Senator 

Collins, and we asked the IG what was the number one concern, 

and his response was cybersecurity. And in your role, you are sort 

of the chief administrative officer. Can you discuss what steps you 

intend to take with respect to cybersecurity? 

Ms. PATENAUDE. Thank you, Senator. After our meeting, I actually scheduled a meeting with the Office of the Chief Information 

Officer, and this is an area that I have limited expertise in, and 

I think that would—I was amazed at how far HUD has come, and 

I realize I was talking to the gentleman that is in charge of this. 

He is the Deputy CIO. And it appeared from the conversation that 

we had that HUD is actually in much better shape than perhaps 

28 

the Inspector General, you know, has portrayed in the report to 

Congress. So I was encouraged by that meeting. It certainly was, 

you know, an hour long. I would need, you know, several hours 

with the CIO, and hopefully we will have a CIO on board or nominated soon. 

So it is an area that I certainly will spend a lot of time researching and trying to understand the needs of HUD. But it was a very 

encouraging conversation. 

Senator REED. And just finally and very quickly, I am concerned 

about the cuts to CDBG. That is a refrain you have heard, I think, 

from many people. And it is a worthy endeavor to look for a more 

efficient model, but in the interim, cutting a model that appears to 

work very well, I do not—I have not heard a lot of complaints. In 

fact, I have heard lots of acclaim, particularly by local leaders, 

mayors, Governors, about how effective it is, because basically it 

provides resources for local initiatives, and I think that is something that you should consider. 

One other point, too, and just to clarify this. In a response to how 

you are going to make this more efficient, some of these uses, the 

suggestion was the local regulatory barriers? 

Ms. PATENAUDE. That is to new construction and preservation. 

Local zoning is certainly contributing to the lack of supply in this 

country. And I feel that that is an area that we really need to address. 

Senator REED. So let me be clear. The Trump administration is 

going to intervene in local zoning to make it more efficient and effective to develop affordable housing? 

Ms. PATENAUDE. No, Senator, I do not think that HUD or the 

Federal Government should, you know, have the zoning powers, 

but to be able to encourage local communities. And when Secretary 

Kemp was at the helm of HUD, he led a very comprehensive effort, 

Not In My Back Yard, which identifies regulatory barriers that 

exist at every level of Government. But the purpose of this was to 

be able to share best practices. During the Bush administration, we 

had an effort to work with mayors, so I think there are ways to 

incentivize, but certainly not to dictate to local decision makers. 

But I think there is a lack of education and oftentimes—— 

Senator REED. So there is money in the budget to incentivize 

changes to local zoning to encourage more affordable housing? 

Ms. PATENAUDE. No, Senator, I do not see anything in the budget 

to do that. We had the Affordable Housing Communities Initiative, 

though, that was run through the Office of Community Planning 

and Development, and it is certainly an area, if I am confirmed, I 

would like to share the results of that program and the efforts and 

to work with the Secretary. 

Senator REED. I appreciate it very much, and you have been very 

kind, so I will at this point just thank you for your very kind comments. Thank you. 

Ms. PATENAUDE. Thank you, Senator. 

Chairman CRAPO. Thank you, Senator, and that concludes the 

questioning. Before I give a couple final announcements, I want to 

thank each of you for coming and appearing here today and participating at the hearing, and thank you for your service and your 

willingness to give more service to the country. 

29 

For Senators, all follow-on questions need to be submitted by 

Thursday, and for our witnesses, responses to those questions are 

due by Monday morning. So please respond quickly to the questions that you may get. 

With that, the hearing is adjourned. 

[Whereupon, at 11:29 a.m., the hearing was adjourned.] 

[Prepared statements, biographical sketches of nominees, responses to written questions, and additional material supplied for 

the record follow:] 

30 

PREPARED STATEMENT OF KEVIN ALLEN HASSETT 

TO BE CHAIRMAN, COUNCIL OF ECONOMIC ADVISERS

JUNE 6, 2017 

Chairman Crapo, Ranking Member Brown, and distinguished Members of the 

Committee, I am humbled and honored to be before you today as President Trump’s 

nominee to be the Chairman of the Council of Economic Advisors. I am also deeply 

grateful to have had a chance to get to know many of you throughout this process. 

I wish that the people who worry about Washington could have witnessed the many 

private kindnesses the Members and staff of this Committee have extended to me. 

I would like to begin by introducing my college sweetheart and wife of 31 years, 

Kristie, and my sons, John and James, who are sitting behind me. I would also like 

to acknowledge my father John, a Korean War veteran who could not be here today, 

and my mother Sylvia and my sister Julia, who sadly are no longer with us. 

Senators, I have almost always been a student of economics, even before I knew 

it. I was raised by two public school teachers in the beautiful town of Greenfield, 

Massachusetts. My mother was a kindergarten teacher in neighboring Turners 

Falls. My father taught English at Greenfield High School, and still lives in Greenfield in the same house I was raised in. 

As I was growing up, my town went through a very painful transition. For the 

longest time, Greenfield was a thriving mill town, with the world’s largest tap and 

die operation that employed thousands of citizens. Neighboring Turners Falls was 

almost as prosperous, housing a massive paper mill along the banks of the Connecticut River. But as we got older, times were changing. Plants closed. Families 

started moving away. Graduates stopped coming home after college. 

It seemed impossible to look around and not wonder why it was happening. When 

I started studying economics in college, and again in graduate school, I always came 

back to the example of how my town changed. Why did plants move away or close? 

Why did many of the good jobs disappear? And is there something that policymakers 

can do to restore prosperity? 

Economic models suggested a simple answer. Workers can have high wages if 

they have high productivity, and high productivity is enabled by an ample supply 

of productive capital. But going from things that work in textbook models to actual 

policy recommendations is a difficult thing. The real world has many complications 

that are not included in models, and the data often surprise economists, especially 

those who have too much confidence in pure theory. 

That observation led me, over the years, to focus on things that can be learned 

from the data. My dissertation focused in part on how wages have moved over the 

business cycle. What do the periods when workers prosper have in common? My 

early career was spent studying how firms’ investment decisions respond to Government policy, and how labor and capital interact. 

Since then, my studies have taken me in many different directions, but I think 

my record makes clear a few things I would like to emphasize about my approach 

to economics. 

First, I believe it is essential to gather evidence, and not just rely on theories. 

Early in my career, the empirical literature on international taxation contained 

many holes, often because the country-by-country data that one would need for 

study were not available. My coauthors and I responded to this by building a large 

international tax database and making its data available to anyone who wanted it. 

Which leads me to my second point: I believe that economic analysis should be 

transparent and replicable. An example of my commitment to this idea is the Open 

Source Policy Center, which I cofounded at the American Enterprise Institute. The 

OSPC has open source computer code that allows anyone to score tax plans, evaluate the distributional consequences of that plan, and see what the assumptions are 

that other users use when they score their own plans. The OSPC promises to democratize the tax debate. 

Finally, while I respect the need for all types of research, even the very theoretical, my own focus has mostly been work that holds the promise of improving the 

lives of others, and that sheds light on the circumstances of those less fortunate, 

like those in my hometown who lost their jobs when the factory closed. A recent 

example of this would be my work with the Economic Innovation Group, where I 

explore the causes and cures of the striking geographic income inequality that we 

see today in America. EIG researchers have worked hard to identify and measure 

distress, and have constructed publicly available datasets that shed light on the 

communities around the country that most need our help. There is an interactive 

map at the EIG website that helps people explore their own communities, with the 

dark color red indicating extreme economic distress. One of the reddest shapes on 

31 

the map of Massachusetts is Turners Falls, the town across the river from my father’s home. 

The Council of Economic Advisors was created to provide the President with professional and objective economic advice, to help policymakers craft solutions for 

problems like those we face today. Throughout history, the CEA has done so admirably during both Democratic and Republican administrations. In 2009, then-nominee Christina Romer told this Committee that she would do her ‘‘utmost to protect 

the integrity of the CEA, and make it a center for unbiased, scientific analysis.’’ 

Chairman Crapo and Members of the Committee, if confirmed, I pledge to you that 

I would do the same, and that I would enthusiastically and energetically take the 

helm of this great American institution. Thank you. 

32 


60617001.eps

STATEMENT FOR COMPLETION BY PRESIDENTIAL NOMINEES 

Name: 

Hassett, Kevin 

Position to which nominated: Member and Chair, Council of Economic Advisers 

Date of nomination: May 15, 2017 

Date ofbinh: 03/20/1962 

Place of birth: Teaneck, NJ 

Marital Status: Married 

Full name of spouse: Kristie Stokes Hassett 

Name and ages of children: John, 22, James 15 

Education: 

Institution 

Dates 

attended 

Degrees 

received 

University of Pennsylvania, Philadelphia, PA, 1984-1989, Ph.D., Economies, 

Swarthmore College, Swarthmore, PA, 1980-1984 BA., Economies,1984 

Allen 

Dates of 

degrees 

HoDO!S 

and awards: 

List below all scholarships, fellomps, honorary degrees, militaJy medals, honorary 

society memberships and any other special recognitions for outstanding service or 

chievement. 

University of Pennsylvania: 

Fellowships: 

• Alfred P. Sloan Foundation Doctoral Dissertation, 1988-1989 

• Sloan FoundationFellow,l987-1988 

• University of Pennsylvania Fellow, 1984-1986 

Swarthmore College: 

• High Honors 

• Phi Beta Kappa 

• Amos J. Peaslee Scholarship 
33 


60617002.eps

Memberships: List below all memberships and offices held in professional, fraternal, business, 

scholarly, 

civic, charitable and other organizations. 

Organization Office held (if any) Dates 

Urban Baseball Foundation, President and Founder, 2009-present 

American Council for Capital Fo~mation, Center for Policy Research, Member, Board of Scholars, 200 I· 

present 

Randolph Foundation, Advisory Board member, 2013-present 

Economic Innovation Group, Co-cl!air, Economic Advisory Board, 2015-present 

Walmart, Advisory Council member, 2016-present 

Union League Club, NYC, member, 2014-present 

The Cote Foundation, Director, 2015-present 

Employment record: 

name 

List below all positions beld since college, including the title or description of job, 

of employment, location of work, and inclusive dates of employment. 

State Farm James Q. Wilson Chair in American Politics and Culture, American Enterprise Institute for Public 

Policy Research, February 2014- present 

Director of Research for Domestic Policy, American Enterprise Institute for Public Policy Research, February 

2016· present 

Senior Academic Advisor, The Lindsey Group, September 20 16· present 

John G. Searle Senior Fellow, American Enterprise Institute for Public Policy Research, Deoember 20 12· 

February 2014 

Director of Economic Policy Studies & Resident Scholar, American Enterprise Institute for Public Policy 

Research, 2003· 2016 

Resident Scholar, American Enterprise Institute for Public Policy Research, 1997· 2014 

National Review Columnist, 2005· present 

Advisor, Cote Capital, 2012·p~nt 

Consultant, Sonecon, 2002-present 

Consultant, Precision Economics, 2001-present 
34 


60617003.eps

Columbia University Gtaduate School of Business, Visiting Researth Scholar, 2016-present 

Consultant, Citigroup, 2014-2016 

Economic advisor, Mitt Romney Presidential Campaign, 2012 

Bloomberg Columnist, 2005-2011 

Senior economic adviser, John McCain Presidential Campaign, 2008 

Visiting professor, New York University Law School, Spring 2008 

Economic adviser, George W. Bush Presidential Campaign, 2004 

Chief Economist, McCain 2000, 1999-2000 

Senior Economist, Division of Research and Statistics, Board of Governors of the Federal Reserve System, 

1995-1997 

Economist, Division of Research and Statistics, Board of Governors of the Federal Reserve 

System, 1992-1995 

Associate Professor, Graduate School ofBusiness, Columbia University, New York, NY, 1993- 1994 

Assistant Professor, Graduate School of Business, Columbia University, New York, NY, 1989-1993 

Teaching Assistant, University of Pennsylvania, 1985-1988 

Government 

experience: List any experience in or direct association with Federal, State, or local governments, 

including any advisory, consultative, honorary or other part time service or positions. 

Consultant to U.S. Treasury during both Clinton and George H.W. Bush administrations. 

Consultant to IRS through Precision Economics on tax litigation 

Senior Economist, Division ofReseartb and Statistics, Board of Governors of the Federal Reserve System, 

1995-1997 

Economist, Division ofResearth and Statistics, Board of Governors of the Federal Reserve 

System, 1992-1995 
35 


60617004.eps

Published 

Writings: 

See Attaclunent I 

Political 

Affiliations 

and activities: 

List the titles, publishers and dates of books, anicles, reports or other published materials 

you have written. 

List memberships and offices held in and services rendered to all political panies or 

election committees during the last I 0 years. 

Economic advisor, Min Romney Presidential Campaign, 2012 

Senior economic adviser, John McCain Presidential Campaign, 2008 

Political 

Contributions: Itemize all political contributions of $500 or more to any individual, campaign 

organization, political party, political action committee or similar entity during the last 

eight years and identify specific amounts, dates, and names of recipients. 

2003, $2000, Bush-Cheney 

Qualifications: State fully your qualifications to serve in the position to which you have been named. 

I am a professional economist with broad academic interests who bas spent years recruiting and DWJagi.ng a 

large team of economic researchers. 

4 
36 


60617005.eps

Future employment 

relationships: !.Indicate whether you will sever all connections with your present employer, business 

firm, association or organization if you are confirmed by the Senate. 

Yes 

2. As far as can be foreseen, state whether you have any plans after completing 

government service to resume employmen~ affiliation or practice with your previous 

employer, business firm, association or organization. 

No 

3. Has anybody made you a commitment to a job after you leave government? 

No 

4. Do you expect to serve the full term for which you have been appointed? 

Yes 

5 
37 


60617006.eps

Potential conflicts 

of interest: l. Describe any financial anangements or deferred compensation agreements or other 

continuing dealings with business associates, clients or customers who will be 

affected by policies which you will influence in the position to which you have been 

nominated. 

None 

2. List any investments, obligations, liabilities, or other relationships which might involve 

potential conflicts of interest with the position to which you have been nominated. 

See ethics agreement 

3. Describe any business relationship, dealing or financial transaction (other than tax 

paying) which you have had during the last 10 years with the Federal Government, 

whether for yourself, on behalf of a client, or acting as an agent, that might in any 

way constitute or result in a possible conflict of interest with the position to which 

you have been nominated. 

None 

6 
38 


60617007.eps

Civil, criminal and 

investigatory 

4. List any lobbying activity during the past ten years in which you have engaged in for the 

purpose of directly or indirectly influencing the passage, defeat or modification of any 

legislation at the national level of government or affecting the administration and 

execution of national law or pub~c po~cy. 

None 

5. Explain bow you will resolve any conflict of interest that may be disclosed by your 

responses to the items above. 

I will comply with my ethics agreement and consult with appropriate ethics officials on 

additional matters. 

actions: I. Give the full derails of any civil or criminal proceeding in Mlich you were a defendant 

None 

or any inquiry or investigation by a Federal, State, or local agency in which you 

were 

the subject of the inquiry or investigation. 

2. Give the full details of any proceeding, inquiry or investigation by any professional 

association including any bar association in Mlicb you were the subject of the 

proceeding, inquiry or investigation. 

None 
39 


60617008.eps

Attatbmeotl 

SCHOLARLY PUBLICATIONS: 

"Football under Pressure: Assessing Malfe=e in Deflategate," with Joseph W. Sullivan and 

Stan Veuger in Journal ofSports Analytics, December2015. (!ink) 

"The Response ofDefened Executive Compensation to Changes in Tax Rates," with Aspen Gony, Glen 

Hubbard, and Apama Mathur, in Journal of Public Economics, August 2015 (!i!!l0 

"Capital Taxation in the 21st Centwy," with Alan J. Auerbach in American Economic Review, May 2015. (!i!!l0 

"A Spatial Model of Corporate Tax Incidence" with Apama Mathur in Applied Economics, 

January 2015. (!i!!l0 

"Is Newspaper Coverage of Economic Events Politically Biased?" with John R. Lott. Public Choice, 160(1· 

2):65-1 08, July 2014 . Also in, AEI Papers and Studies, October 18, 2004 Oilll>) 

"The Economic Benefits of New York City's Public School RefollllS, 2002-2013," with Robert J. Shapiro, 

Georgetown McDonough School of Business Research Paper No. 2541667, 10 December 2013. ~ 

"Recent Developments in the Dynamic Fiscal Policy Literature," with Aspen Gony, Tax Notes, December 

2013. (link) 

"Benefits of Hydraulic Fracking," withApama Mathur. Oxford Energy Forum, Issue 91, Oxford lnstirute for 

Energy Studies. 2013. (link) 

"Tiebout and Competitiveness," with R Glenn Hubbard and Matthew H. Jensen, in: Rethinking 

Competitiveness, ed. Kevin Hassett AEl Press 2012. (!i!!l0 

"Spending, Taxes, and Certainty: A Road Map to 4%," in The 4% Solution: Unleashing the Economic Growth 

America Needs, ed. Bredan Miniter. The Bush Institute 2012. (link) 

"Distributional Impacts in a Comprehensive Climate Policy Package,' with Gilbert E. Metcalf and Apama 

Mathur. NBER Chapters, in: The Design and Implementation of U.S. Climate Policy, National Bureau of 

Economic Research, Inc. University of Chicago Press (2012), ed. Don Fullerton and Catherine Wolfram. (link) 

"A New Measure of Consumption Inequality" with Apama Mathur, AEI Economic Studies, June 2012. ~ 

"The Consumer Burden of a Carbon Tax on Gasoline," with Apama Mathur and Gilbert E. Metcalf, Fuel Taxes 

and the Poor: The Distributional effects of gasoline taxation and their implications for climate policy, Thomas 

Sterner, ed. RFF Press, 2011. (!i!!l0 

"Spatial Tax Competition and Domestic Wages," with Apama Mathur, AEI Papers and Studies, December 

2010.(!i!!l0 

"Fundamental Tax Reform in California," with Alan D. Viard and Alex Wein, Tax Notes, October 2009. ~ 

"Moving toward a Unified Credit for Low-Income Workers," with Lawrence B. Lindsey and Apama Mathur, 

Tax Notes, August 2009. (!ink) 

10 
40 


60617009.eps

"A Not-So-New Direction for Tax Policy," Hoover Institution's Taskforce on Property Righl.s, FreediJm, and 

Prosperity, May, 2009. ill!!!) 

"Why Fiscal Stimulus is Unlikely to Worlr, "International Finance 12:1,2009: pp. 75-91 ~ 

"Incidence of a U.S. Carbon Tax: A Lifetime and Regional Analysis," with Aparna Mathur and 

Gilbert Metcalf. Energy Journal. 2009. ill!!!) 

"Taxation and Business Behavior: A Review of the Recent Literature," with Kathryn Newmark, Fundamental 

Tax Reform: l$$11es, Choices, and Implications, Diamond and Zodrow eds, MIT Press, 2008 ili!Jhl 

"Optimal Long-Run Fiscal Policy: Constiaints, preferences and the resolution of uncertainty," with Alan 

Auerbach, Journal of Economic Dynamics and Control, Volume 3l, lssue 5, 2007 ~ 

"The Taxation of Corporate Gains on Sales of Depreciable Property:: An Economic Analysis," with Alan D. 

Viard, Tax Notes, 2007. ~ 

"The 2003 Dividend Tax Cuts and the Value of the Finn: An Event Study; with Alan 1. Auerbach, Taxing 

Corporate Income in the 21st Century, Alan Auerbach, James Hines, Joel Slemrod, eds.; Cambridge University 

Press, 2007 ~ 

"Investmen~" The Concise Encyclopedia of Economics, David Henderson, eds; 2007. ili!Jhl 

"How do Tax Policies Affect Low-Income Workers?" with Anne Moore, Working Poor: How Economic and 

Policy Changes Are Affecting Low-Wage Workers, Rebecca Blank, Sheldon Danziger, and Roberts Scboeni, 

eds.;2006~ 

"Investment Behavior, Observable Expectations, and Internal Funds," with Jason G. Ctunmim, Kevin A. 

Hassett, and Stephen D. Oliner, American Economic Review, June 2006 Oi!lJ0 

"Dividend Taxes and Firm Valuation: New Evidence," with Alan J. Auerbach, American Economic Review, 

May2006ili!Jhl 

"Marginal Tax Rates in 2004 vs. 1988" AEI Papers and Studies, March 21,2006. ili!Jhl 

''New Evidence on the Dynamics ofDrug Discovery," with Kathryn G. Newmark, AEI Papers and Studies, 

March 15,2006. ~ 

''Top 10 Myths of Social Security Reform," with Jeffrey R. Brown and Kent Smelters, The Elder Low Journal, 

Volume 13, Number2, 2005 (!i!lk) 

Comment on, ''The Role ofU.S. Tax Policy in Offshoring", Kimberly Clausing in Brookings Trade Forum 

2005: Offslwring White-Collar Work- The issues and Implications, Lael Brainard and Susan M. Collins, The 

Brookings Institution, 2005, 483-485 ili!Jhl 

"An Analysis of the Ten-Year Costs of Senator Kerry's Spending Proposals," with Eric Engen, 

AEI Papers and Studies, August 12,2004. ili!Jhl 

11 
41 


60617010.eps

"Price Controls and the Evolution of Pharmaceutical Markets," AEI Papers and Studies, July 

23, 2004 (!lll0- no actual paper online, paper is here: (!lll0 

''The Effect ofDividend Tax Relief on Investment Incentives," with Robert Carroll, and James B. Mackie Ul, 

Natioi!IJI Tax Journal, Volume 56, September 2003 (!lll0 

"On the Marginal Source of investment Funds," with A. Auerbach, Journal of Public Economics Vol. 8111, pgs. 

205-232 December 2002. (!lll0 

"Fiscal Policy and Uncertainty," with Alan 1. Auerbach, lnteri!IJtional Finance, Fall2002. (!lll0 

"Does the US Corporate Tax Have a Future?" 30th Anniversary Issue of Tax Notes, Fall2002. 

(!lll0 

"A New Measure of Horizontal Equity," with A. Auerbach, American Economic Review, 

September 2002. (!lll0 

''The Effects ofTemporary Partial Expensing On Investment Incentives in the United States," 

with D. Cohen and D.-P. Hansen, National Tax Jouri!IJI, September 2002. (!lll0 

"Marginal Tax Rate Cuts and the Public Tax Debate", with C. Calomiris, National Tax Journal, March 2002. 

(!lll0 

"Tax Policy and Business Investment," with R. G. Hubbard, Handbook of Public Economics Vol. ill, Auerbach 

and Feldstein eds., Elsevier Science B. V., 2002. (!lll0 

"Uncertainty and the Design of Long-Run Fiscal Policy," with A. Auerbach, Demographic Change and Fiscal 

Policy, A. Auerbach and R. Lee eds, 73-92, Cambridge University Press, 2001. (!ink) 

"Measuring the Returns to Energy Conservation Investments: Evidence from Monthly Billing Data," with G. 

Metcalf, in Review of Economics and Statistics, August 1999. (!lll0 

"Investment and Union Certification," with B. Fallick, Jouri!IJI of Labor Economics, July 1999. (!ink) 

"Investment with Uncertain Tax Policy: Does Random Tax Policy Discourage Investment?" with G. Metcalf, 

The Economic Jouri!IJI, July 1999. (!lll0 

"Inflation and the User Cost of Capital: Does Inflation Still Mattet?" with D. Cohen and R. G. Hubbard, The 

Costs and lknefits of Price Stability, Feldstein ed., Chicago: University of Chicago Press, 1999. (!ink) 

"Inflation, Taxes, and the Durability of Capital," with D. Cohen, National Tax Journal, March 1999. (!ink) 

"Are Investment Incentives Blunted by Changes in Prices of Capital Goods?" with R.G. Hubbard, Interi!IJtioMI 

Finance, October 1998. (!lll0 

"Tax Policy and Investment," with R. G. Hubbard, in Fiscal Policy: Lessons from the Literature, A. Auerbach 

ed., 1997, 339-385, MIT Prt$S. (!ink) 

12 
42 


60617011.eps

"Tax Refonns and Investment: A Cross-Countly Comparison," with J. Cummins and R. G. Hubbard, Journal of 

Public Economics, 62 (1996), 237-273. Q.i!:® 

"Can lneversibility Explain the Slow Diffusion of Energy Saving Technologies?" with G. Metcalf, Energy 

Policy, January 1996. Q.i!:® 

"Investment Under Alternative Return Assumptions: Comparing Random Walles and Mean Reversion," with G. 

Metcalf, Journal of Economics, Dynamics, and Control, 1996. Q.i!:® 

''Unionization and Acquisitions," with B. Fa!Jick,Journal of Business, 1996,69 (I), 50-73. (!i!l!) 

''Energy Tax Credits and Residential Conservation Investment: Evidence from Panel Data," with G. Melcalf, 

Journal of Public Economics, 57 (1995), 201-217. Q.i!:® 

"'nternational Accounting, Asymmetric Information, and Firm Investment," with J. Cummins and T. Harris, 

Taxing MultinaJional Corporations, M. Feldstein, J. Hines and R. G. Hubbard eds., 95-I02, University of 

Chicago Press, 1995. Q.i!:® 

"Have Tax Refonns Affected Investment?" with J. Cummins and R. G. Hubbard, in Tax Policy and the 

Economy, J. Poterba ed., 1995 (9) 131-150, MIT Press.Q.i!:® 

"Taxation and Corporate Investment: The Impact of the 1991 Swedish Tax Reform," with A. Auerbach and J. 

Sodersten, Swedish Economic Policy Review, 1995, (2), 361-384. ~ 

"Accounting Standards, Information Flow and Business Fixed Investment," with J. Cummins and T. Harris, in 

The Effects of Taxation on MultinaJional Corporations, M Feldstein, J. Hines and R. G. Hubbard eds., 1995, 

181-224, University of Chicago Press. Q.i!:® 

"Reassessing the Social Returns to Equipment Investment," with A. Auerbach and S. Oliner, Quarterly Journal 

of Economics, 1994, 109 (3), 789-802. Oink) 

"A Reconsideration of Investment Behavior Using Tax Refonns as Natural Experiments," with J. Cummins and 

R. G. Hubbard, Brookings Popers on Economic Activity, 1994, (2), 1-74. Oink) 

"Who Pays Broad Based Energy Taxes? Computing Lifetime and Regional Incidence," with N. Bull and G. 

Metcalf The Energy Journal, 1994, 15 (3), 145-164. ~ 

"Energy Conservation and Investment: Do Consumers Discount the Future Correctly?" with G. Metcalf, Energy 

Policy, June 1993,710-716. Oink) 

"Taxation and Foreign Direct Investment in the United States: A Reconsideration of the Evidence," with A. 

Aueroach, in Studies in International Taxation, A. Giovannini, R. G. Hubbard and J. Slemrod, eds., University 

of Chicago Press, 1993. ~ 

''Tax Policy and Business Fixed Investment in the U.S.," with A. Auerbach, Journal of Public Economics, 

1992,47 (2), 141-170. ~ 

"The Effects ofTaxation on Investment: New Evidence from Firm Level Panel Data," with J. Cummins, 

National Tax Journal, 1992,45 (3), 243-251. (!i!l!) 

13 
43 


60617012.eps

"Instrument Choice and Tests for a Unit Root," with A. Hall, Economics Lttrers, 1991,35, l6I- I65. (ill)!) 

"Recent U.S. Investment Behavior and the Tax Reform Act of I986: A Disaggregate View," with A. Auerbach, 

Carnegie Rochester CQn[erence Series on Public Policy, 1991, 35, I85-215. (ill)!) 

"Corporate Saving and Shareholder Consumption," with A. Auerbach, in D. Bernheim and J. Shoven eds., 

National Saving and Economic Performance, Chicago, University of Chicago Press, I 99I. (ill)!) 

"Investment, Tax Policy and the Tax Reform Act of I 986," with A. Auerbach, in Do Taxes Matter?: The 

Impact of the Tax Reform Act of 1986, J. Slemrod ed., MIT Press, I990. (ill)!) 

BOOKS AND PAMPHLETS: 

Opportunity For All: How To Think About Income Inequality, Kevin A. Hassett, chapter contributor, AEI Press, 

March 20I 4. (ill)!) 

Rethinldng competitiveness. Kevin A. Hassett, ed. AEI Press, 20I2. (ill)!) 

Toward Fundamental Tax Reform. Alan Auerbach and Kevin Hassett ed. AEI Press. May, 2005 

(ill)!) 

Bubbleology: The New Science of Stock Market Winners and Losers, Crown Business, July 2002. (ill)!) 

Inequality and Tax Policy, with R.G. Hubbard, eds., AEI Press, December 2001. (ill)!) 

Transitional Costs of Fundamental Tax Reform, with R.G. Hubbard, eds., AEl Press, March 2001. (ill)!) 

Dow 36,000, with J. Glassman, Random House, September I999: The New York Times, USA Today, Business 

Week, and the Wall Street Journal bestseller. (ill)!) 

The Magic Mountain: A Guide to Defining and Using a Budget Surplus, with G. Hubbard, AEI Press, March 

1999. (ill)!) 

Tax Policy and Investment, AEl Press, September 1999. (ill)!) 

WORKING PAPERS: 

"On the Observational Implications ofKnightian Uncertainty," with Weifeng Zhong. A£1 Economic Policy 

Studies Working Paper #2016-17, December20I6. (ill)!) 

"Policy Uncertainty and the Economy," with Joseph W. Sullivan. A£1 Research Publication, August 20I6. 

(ill)!) 

'The Economic Effects of the Corpolllte Tax: A Review of the Recent Literature," with Bev Dahlby, Working 

Paper, June 20I6. 

''The Impact of Broadband and Related Information and Qlmmunications Technologies on the American 

Economy," with Robert J. Shapiro, Working Paper, 3 May 20I6. Q.i.n.k) 

14 
44 


60617013.eps

"Regulation and Investment A Note on Policy Evaluation under Uncertainty, with an Application to FCC Title 

U Regulation of the Internet," with Robert J. Shapiro, Working Paper, July 2015. (!j!ll{j 

"On the Wells Report," with Joseph W. Sullivan and Stan A. Veuger. AEI Econcmic Perspective, June 2015. 

~ 

"Unlocking Private Capital to Facilitate Economic Growth in Distressed Areas," with Jared Bernstein, Working 

Paper, April2015. ~ 

"Capital Taxation in the 21st Centwy," with Alan J. Auerbach. National Bureau of Economic Research 

Working Paper nc. 20871, January 2015. ~ 

"The Impact of Title II Regulation of Internet Providers on Their Capital Investments," with Robert 1. Shapiro, 

Working Paper, November2014. Ol!.!k) 

"The Elasticity ofDefemed Income With Respect to Marginal fncome Tax Rates" (with Aspen Gorry, R. Glenn 

Hubbard, and Apama Mathur). Paper presented at the NBER Trans- Atlantic Public Economics Seminar, June 

2014 (Vienna, Austria). Currently under consideration for Specia/1ssue of Journal of Public Economics. 

''How to Think About Tax Reform that Combines Changes to Depreciation Schedules with Rate Reductions," 

with Apama Mathur, Main Street Partnership Econcmic Study, February 2014. 

"The Corporate Interest Deductibility Provision," with Apama Mathur, Main Street Parmership Economic 

Study, February 2014. 

"The Tax Gap," with Apama Mathur, Main Street Partnership Econcmic Study, February 2014. 

"Analysis of the Economic Effect of immigration Reform," ACAI/iance Paper, July 15,2013. Ol!.!k) 

"Letter to Chairman Wheeler: Economic Evidence on Competition in Communications Markets and 

Implications for Key Policy Issues," with Robert Atkinson eta!., December 11,2013. 

"The Employment Effects of Advances in Internet and Wireless Technology: Evaluating the Transitions from 

2G to 3G and from 3G to 4G," with Robert J. Shapiro, Working Paper, January 2012. ~ 

"What Ideas Are Worth: The Value of Intellectual Capital and Intangible Assets in the American Economy," 

with Robert·J. Shapiro, Working Paper, September 201 L Ol!.!k) 

"Report Card on Effective Corporate Tax Rates: United States Gets and F," with Apama Mathur,AEJTat 

Policy Outlook, February 20 II. Ol!.!k) 

"A Guide for Deficit Reduction in the United States Based on Historical Consolidations that Worked," with 

Andrew G. Biggs and Matt Jensen, AEI Economic Policy Working Paper 2010-04, December 2010. Ol!.!k) 

"Distributional Impacts in a Comprehensive Climate Policy Package," with Apama Mathur and Gilbert E. 

Metcalf, A£/ Economic Policy Studies Working Paper #2010-0J,June 2010. ~ 

"The Tax Hike on Carried Interest," with Alan D. Viard,AEITat Policy Outlook, June 2010. ~ 

15 
45 


60617014.eps

"A New Analysis of Broadband Adoption Rates by Minority Households," with Robert J. Shapiro, Working 

Paper, June 2010. Oink) 

''Taxes Around the World: A Brief History of World Tax Policy, 1981-2007," with Apama Mathur, AEI 

Working Paper #160, December2009 Oink) · 

''The Deficit Endgame," with Desmond Lachman and Apama Mathur, AEI Working Paper fi 160, September, 

2009. Oink) 

"Moving Towards a Unified Credit for Low Income Workers," with Lawrence B. Lindsey and Apama Mathur, 

AEI Working Paper #!50, August, 2009. Oink) 

"Towards Universal Broadband: Flexible Broadband Pricing and the Digital Divide," with Robert J. Shapiro, 

Working Paper, August 2009. Oink) 

"The Consumer Burden of a Carbon Tax on Gasoline," with Apama Mathur and Gil ben E. Metcalf, AEI 

Working Paper #147, May, 2009. Oink) 

"The Consumer Burden of a Cap-and-Trade System with Freely Allocated Pennits" with ANrna Mathur and 

Gilbert E. Metcalf, AEI Working Paper #144, December 2008. Oink) 

"Predicting Tax Refonn," with Apama Mathur, AEI Working Paper #138, August 2007. Oink) 

"Revenue-Maximizing Corporate Income Taxes," with Alex Brill, AEI Working Paper #I 3 7, 

July2007. Oink) 

"The Taxation of Corporate Gains on Sales of Depreciable Property," with Alan Viard,AEI Working Paper 

#136, June 2007 Oink) 

"The Impact of Authorized Generic Pharmaceuticals on the Introduction of Other Generic pharmaceuticals," 

with Robert J. Shapiro, Working Paper, May 2007. Oink) 

"Reducing Barriers to Investments in Fiber Connections and Advanced Broadband Services for American 

Households," with Robert J. Shapiro, Working Paper, February 2007. Oink) 

"An Empirical Analysis of Middle Class Welfare: Testing Alternative Approac~" with 

Apama Mathur, AEI Working Paper #!34, January 2007 Oink) 

"Taxes and Wages," with Apama Mathur,AEI Working Paper #128, July2006 Oink) 

"Assessing the Economic Impact of Proposed Asbestos Legislation: A Reconsideration of the Evidence," with 

Roben J. Shapiro and Peter Wallison, Working Paper, 18 July2005. Oink) 

"The Economic Value of Intellectual Property," with Robert J. Shapiro, Working Paper, July 2005. Oink) 

"Healthy Returns: The Economic Impact of Public Investment in Surface Transportation," with Robert J. 

Shapiro, Working Paper, March 2005. Oink) 

16 
46 


60617015.eps

'The Steel Industry: An Automotive Supplier Perspective" with Brian Becker, Working Paper, Feb!Ulll)' 16, 2005 ®!hl . 

"Assessing the Economic Gains from Telecom Competition," with Richa!d N. Clarke, Laurence Kotlikoff, 

Zoya Ivanova, NBER Working paper# 10482, May 2004: (!i!!hl 

"The Fiscal and Social Costs of Consolidating Student Loans at Fixed Interest Rates," with Robert Shapiro, AEJ 

Working Paper Series #104, April2004 (!ighl 

"The Economic and Legal Consequences of Requiring the Expensing of Employee Stock Options Without 

Specifying the Valuation Method," with Peter J. Wallison, Working Paper, December 2003 (!i!!hl 

"Do Budget Deficit Announcements Move Interest Rates?" with Charles Calomiris, Eric Engen, and R. Glenn 

Hubbard, Working Paper, December 2003 

"Increased Investment, Lower Prices: The Fruits of Past and Future Telecom Competition," with L. Kotlikoff 

and Z. lvanova, NBER Working paper, September 2003 (!i!!hl 

"The Role of Competition in Stimulating Telecom Investment," with Lawrence J. Kotlikoff, AEI Working 

Paper, October 2002. (!ighl 

"Conserving Energy and Preserving the Environment: The Role of Public Transportation," 11ith Robert J. 

Shapiro and FrankS. Arnold, Working Paper, July 2002. (!i!!hl 

"Structural Estimates of Factor Substitution from Firm-Level Panel Data on Multinational Corporations," with 

J. Cummins, Working Paper, Feb!Ulll)' 1999. (!i!!hl 

"Knowing What's Good For You: Energy Conservation and the Uninformed Consumer Hypothesis," with A. 

Brill and G. Metcal~ Working Paper, 1999. (!i!!hl 

"Measuring the Energy Savings from Home Improvement Investments: Evidence from Monthly Billing Data," 

with G. Metcalf, NBER Working paper #6074, June 1997. 

"Capital Taxation in a Dynamic Structural Model of the Multinational Firm," with J. Cummins, Working Paper, 

August 1997. 

"Are US Investment and Capital Stocks at Optimal Levels?" with D. Cohen and J. Kennedy, FEDS working 

paper 95-32, July 1995. 

"A Nonlinear Filtering Technique for Estimating the Timing and Importance of liquidity Constraints," with T. 

Feyzioglu, December 1992. 

"Corporate Savings and Shareholder Consumption," with A. Auerbach, NBER Worlcing paper #2994, June 

1989. 

TESTIMONIES: 

"Fixing Broken Budget Processes and Restoring Stability to Government Operations," Senate Budget 

Committee. April20, 2016. (!i!!hl 

17 
47 


60617016.eps

"Reacbing America's Potential: Delivering Growth and Opportunity for all Americans," House Ways and 

Means Committee. February 2, 2016. (!i!® 

"'n the Dynamic Scoring of Fiscal Policy," Joint Economic Committee. July 28,2015. (!i!® 

"The Way forward from Government Shutdown and Debt Ceiling Confrontation," Joint 

Economic Committee. October II, 2013. (!i!® 

"Lessons from Reagan: How Tax Reform can Boost Economic Growth," Joint Economic Committee. July 31, 

2013. (!i!® 

"Long·term Unemployment: ConsequeDCeS and Solutions," Joint Economic Committee. April 

24,2013. (!i!® 

"Testimony on the Fiscal Cliff," Joint Economic Committee. December 6, 2012. (!i!® 

"How the Taxation of Capital Affects Growth and Employmen~" Joint Economic Committee. Aprill7, 2012. 

Qink) 

"Policy Prescriptions for the Economy," Senate Committee on the Budget September 15,2011. @!!9 

"Spend Less, Owe Less, Grow the Economy," Joint Economic Committee. June 21,2011. @!!9 

"Testimony on the Importance of Comprehensive Tax Refonn," House Committee on Ways 

and Means. January 20,2011. @!!9 

"Testimony on the National Manufacturing Strategy Act," House Committee on Energy and 

Commerce. July 14,2010. (!i!® 

"The Road to Economic Recovery," Joint Economic Committee. February 26,2010. @!!9 

"Prospects for Employment Growth: Is Additional Stimulus Needed?" House Committee on Financial Services. 

February 23,2010. @!!9 

"The Impact of the Recovery Act on Economic Growth," Joint Economic Committee. October 29,2009. Qink) 

"The Economic Outlook and Budget Challenges," House Committee on the Budget. February 27, 2009. @!!9 

"The Stealth Tax that's No Longer a Wealth Tax." Senate Committee on Finance. June 27,2007. @!!9 

"Blowing the Cover on Stealth Tax" Senate Committee on Finance Subcommittee on Taxation and IRS 

OveiSight May 23, 2005. Qin!0 

"Capital Cost Recovery and Fundamental Tax Refonn," President's Advisory Panel on Federal Tax Reform. 

April IS, 2005. (!i!® 

"Pharmaceutical Price Controls in OECD Countries," Department of Commerce, International Trade 

Administration. August 3, 2004. (!i!® 

18 
48 


60617017.eps

"The FASB Stock Options Proposal, Its Effect on the U.S. Economy and Jobs," House 

Committee on Financial Services. April2I, 2004. (!ink) 

"The Future of Fiscal Policy in the United States," House Financial Services Committee. April 

30,2003. (!ink) 

"Evaluation of Proposals for Economic Growth and Job Creation: Incentives for Investmen~" 

Senate Finance Committee. February I2, 2003. (!in!l) 

"Budget Enforcement Act," House Budget Committee. June 27, 2002. 

"Statement on Dynamic Scoring," House Budget Committee. May 2, 2002. (link) 

"Some Intuition Concerning the Benefits of Consumption Taxation," House Ways and Means Committee. May 

2, 2002. (!in!l) - hyperlink but no testimony 

. "Economic Stimulus," Senate Budget Committee. October 25,2001. (!in!l) 

''The Role ofT ax Incentives in Energy Policy," Senate Finance Committee. July 10,2001. (link) 

"Budget Enforcement Act," Senate Budget Committee. June 27,2001. ill!!!) 

"Budget Outlook and Tax Policy," Senate Budget Committee. February 13, 2001. (link) 

"President's Tax Relief Proposals," House Ways and Means Committee. February 13, 200 I. 

Nontechnical Publications: 

"Allan Meltzer, RIP," AE/deas. May 10,2017. 

"Restoring Worl<and Wages," National Review. April 3, 2017. 

"The Road Back from France," National Review. March 6, 2017. 

"Cash Flow Taxation," Lindsey Group, February 16,2017. 

"Adjustment Costs and the Road to Great Again," Lindsey Group, February 8, 2017. 

"A Pro-Growth Tax Reform," National Review. February 6, 2017. 

"Recovery through tax reform," National Review. December 9, 2016. 

"No Coattails for Hillary?" National Review. November 7, 2016. 

"Fixing Productivity," Lindsey Group, October 28, 20I6. 

"Productivity: The Zombie Apocalypse," Lindsey Group, October20, 2016. 

"Is the Age of Innovation Over?" Lindsey Group, October I 5, 20I6. 

19 
49 


60617018.eps

"A fust pass at scoring the Trump plan," AEldeas. October 14,2016. 

"The Unprecedented Negative Interest Rate," National Review. October 10,2016. 

"Kevin Hassett: «Auch ein Donald Trump regiert oicht im Alleingang))," Finonz und Wirtschajl. September 13, 

2016. 

''Thinking about the unthinkable," Nationol Review. August 29, 2016. 

"The cure for wage stagnation," The Wall Street JournoL August 14,2016. 

"Policy Uncertainty and theEcanomy," American Enterprise Institute. August 4, 2016. 

"A season of uncertainty," National Review. August I, 2016. 

"Brexit and economic competition," Foreign Affairs. July 26, 2016. 

"The election's risk to the economy," Nationol Review. June28, 2016. 

"The CBO's clouded crystal ball," National Review. May 23, 2016. 

"Liberal media <3 Trump," National Review. April25, 2016. 

"We ignore the debt at our peri~" Nationol Review. March 31, 2016. 

"Expect 25 years of rapid change," Bureau of Labor Statistics Monthly Labor Review. March 23, 2016. 

"The bank lhat makes its own rules," The Wall Street Journal. March 4, 2016. 

"Don't stop worrying about oi~" Nationol Review. February 29,2016. 

"Statistically measuring 2016 presidential candidate electability: Evidence from prediction markets," with 

Jonathan S. Hartley. AEI Economics Working Paper Series. February 3, 2016. 

"Bleak future?" Nationol Review. December 7, 2015. 

"Stocks and the Clinton effect," Nationol Review. November 2, 2015. 

''The impact of taxes on the use of deferred executive compensation," with Apama Mathur, Aspen Gorey, and 

R. Glenn Hubbard. VoxEU. October 19,2015. 

"An epidemic ofloneliness," Nationol Review. October 5, 2015. 

"The Trump marke~" Natwnal Review. September 7, 2015. 

"Judging the governors," National Review. July 27,2015. 

"The maximum minimum," National Review. July 6, 2015. 

20 
50 


60617019.eps

"Equality vs. recovery," National Review. June 18,2015. 

"Deflating 'Deflategate'," The New York Times. June 12,2015. 

"On the Wells report," with Joseph W. Sullivan and Stan Veuger. AEI Economic Perspectives. June 12, 2015. 

"Age of uncertainty II," National Review. May 5, 2015. 

"Age of uncertainty," National Review. April6, 2015. 

"On the passing of Resident Scholar John H. Makin," AE!deas. March 30,2015. 

"Mind the gap: US and European train safety," National Review. March 17,2015. 

"Capital taxation in the 21st century: A critique ofPiketty," with Alan J. Auerbach. VoxEU. March 3, 2015. 

"US costs, foreign benefits," National Review. February 9, 2015. 

"Capital taxation in the 21st century," with Alan J. Auerbach. VoxEU. January 6, 2015. 

"Are police biased?" National Review. December 31, 2014. 

"It Gets Better," National Review. November 17,2014. 

"Connecting the Fed dots," National Review. October 14,2014. 

"Brief of the tax economists as amici curiae in Maryland Comptroller v. Wynne," with Alan D. Viard, Alan L 

Auerbach, Alex Brill, Brian Galle, Christopher DeMuth, R. Glenn Hubbard, and Robert Shapiro. September 29, 

2014. 

"Cutting fat from the budge~" National Review. September 18, 2014. 

"A Fed-blown bubble?" National Review. August 25, 2014. 

"Back to basics," National Review. July 15,2014. 

"Betting the World Cup," National Review. June 10,2014. 

"Gas power," National Review. June 4, 2014. 

"After the crisis," National Review. April14, 2014. 

"Worksharing and Long-Tenn Unemploymen~" with Michael Strain, Full Employment Project. Apri12, 2014. 

"East Is Least," National Review. March 10,2014. 

"The Unemployment Trap," National Review. February 25,2014. 

21 
51 


60617020.eps

"CAP Tries to Renew a Bill of Attainder against Big Oil Companies," with Alan D. Viani, National Review 

Online. January 24, 2014. 

"Free the Freeways," National Review. January 17,2014. 

"FiiSt Thoughts on Ryan-Murray," National Review Online. December 12,2013. 

''Recent Developments in the Dynamic Fiscal Policy Literature," with Aspen Gorry, Tax Notes. December 9, 

2013 

"Judging the Parties," National Review. December6, 2013. 

"The Big Problem for Small Business," National Review Online. October 25, 2013. 

"The Roadmap," National Review. October 14,2013. 

"Obamacare vs. Work," National Review. October 8, 2013. 

"Obama Rewrites Debt Limit History," The Wall Street Journal. October 3, 2013. 

"Don't Blame China," National Review. September 3, 2013. 

"Smoking out Leviathan," National Review. August 8, 2013. 

"Net Worthless," National Review. July I, 2013. 

"Why a Romney Economic Adviser Wants the Government to Just Hire People," Washington Post Wonk Blog. 

June 10,2013. 

"The Rich Get More(Audits)," National Review. June 3, 2013. 

"Commencement Speakers: ConsetVatives Need not Apply,'' Los Angeles Times. May 20, 2013. 

"A Long-Te1111 Problem for the Economy," National Review. May 10,2013. 

"Why the Good Jobs Report Should Worry the Obama Administration," National Review Online. May 3, 2013. 

"A Quick Guide to Budget Proposals," National Review Online. Aprilll, 2013. 

"Boys Left Behind," National Review. AprilS, 2013. 

"Jobs: Not as Bad as It Looks," National Review Online. AprilS, 2013. 

"Benefits of Hydraulic Fracking," with ApamaMathur, Oxford Energy Forum. April4, 2013. 

"The Wages of Gamesmanship," National Review. March 13,2013. 

"Why We Shouldn't Raise the Minimum Wage," with Michael Strain, Los Angeles Times. March 10,2013. 

22 
52 


60617021.eps

"Gene Sperling and 'Regret,"' National Review Online. February 28, 2013. 

"America Needs Workers,'' National Review. February 12,2013. 

"Jobs Today," National Review Online. February I, 2013. 

"The Progressive US Tax Code," National Review. January 14, 2013. 

"Six Ways to Fix the US Economy," CNN Global Public Square. January II, 2013. 

"Republicans Got a Pretty Good Deal," The Daily Ca/Jer. January 2, 2013. 

"Campaign Econometrics," National Review. Detember 4, 2012. 

"Crushed by Debt," National Review. November6, 2012. 

"Consumption and the Myths oflnequality," with Aparna Mathur, The Wall Street Journa/. October 25, 2012. 

"How the Nobel Prize in Economics can Help You Find Love," AEJdeas. October 15, 2012. 

"Think Again about that 'Good' Jobs Report," National Review Online. October 5, 2012. 

"The Failing Economy May Boost Romney,'' National Review. September 28,2012. 

"Jobs Growth Stagnates Again," National Review Oniine. September 7, 2012. 

"'bama's Smoke and Mirrors," National Review. August 24,2012. 

"Ron Suskind's 'Confidence Men,'" lnJernational Finance. August 23,2012. 

"'bama Inconsistent on Pace of Economic Recovery," with R. Glenn Hubbard, The Washington Post. August 

15,2012. 

"A Dividend for Romney," National Review. July27, 2012. 

"The Saints Ain't Sinners," with Stan Veuger, Los Angeles Times. July 15,2012. 

"The StoliD Approaches," National Review. June 25,2012. 

"Cut to Grow," National Review. May 25,2012. 

"The Human Disaster of Unemployment," with Dean Baker, The New York Times. May 12,2012. 

"Authors on 'Intellectually Bankrupt' Charge: Not Ready to File Yet!" with Alan D. Viard, Tax Notes. April30, 

2012. 

"The New Age of Anxiety," National Review. April 27, 2012 

"The StubbomestTax," National Review. April24, 2012. 

23 
53 


60617022.eps

"Big Oil, Targeted Taxes, and the Rule of Law," with Alan D. Viard, Tax Notes. April9, 2012. 

"Marth Jobs Report Is Worst Since Oetober," Notional Review Online. April6, 2012. 

"Obama's Auto-Bailout Fiction," Notional Review. Apri13, 2012. 

"Romney vs. Obama on Corporate Tax Reform," with R. Glenn Hubbard, The Wall Street Journal. Marth 14, 

2012. 

"Raising the Cost of Crime," Notional Review. Marth 5, 2012. 

"Stimuless," Notional Review. February 6, 2012. 

"Private Equity Is a Force for Good," with StevenJ. Davis, The Atlantic. January 16,2012. 

"Stealth Redistribution," Notional Review. January 9, 2012. 

"Santorum's Tax Plan Doesn't Add Up," National Review Online. January 6, 2012. 

"Correlating the Candidates," Notional Review. December 5, 20 II. 

"After the Downgrade," Notional Review. November 3, 201 I. 

"The Confidence Game," National Review. October 3, 2011. 

"The Long Gray Unemployment Line," Notional Review. September 6, 2011. 

"Stimulus Optimists vs. Economic Reality," Wall Street Journal. August 3, 20 II. 

"One for the History Books," National Review. August I, 201 1 

"How to Spend the 'Peace Dividend,'" New York Times. June 23, 2011. 

"Political Stimulus," National Review. May 16,2011. 

"The Return of Rosy Scenario," National Review Online. April4, 2011. 

"Fed Seat Stalemate Keeps Diamond in the Rough," Bloomberg. March 28, 20 II. 

"The Wrong Budget Fight at the Wrong Time," with Andrew Biggs, The American. Marth 18,2011. 

"Read This Column, or Big Bird Takes a Bullet," Bloomberg. com. March 14,2011. 

"Romney Can't Withstand Obama's KissofDeath," Bloomberg. Marth 7, 2011. 

"How Will We Face the Worst," National Review. Marth 7, 2011. 

''NFL's Wage Fix May Give Us Not-So-Super Bowl," Bloomberg. February27, 2011. 

24 
54 


60617023.eps

"Trump's Run for President Requires Memory Loss," Bloomberg. February 21,2011. 

"Laffer Curve Pays Billions IfObama Just Asks," Bloomberg. com. February 14, 201!. 

"Report Card on Effective Coporate Tax Rates," with Aparna Mathur, Tax Policy Outlook. February 9, 2011. 

"On the Down Grade,'' National Review. February 7, 201 1. 

"Freedom in Mideast Carries Cost We All Might Pay," Bloomberg. February 7, 2011. 

"AAA Rating Tough to Defend as US Debt Soars," Bloomberg. com. January 31, 20 II. 

"Slow-Growth US Now Ripe for Consumption Tax," Bloomber.com. January 24,2011. 

"Boehner Should Win This Round of Default Chicken," Bloomber.com. January 17, 2011. 

"Ivy Chase," National Review. January I 0, 2011. 

"How to Cut $100 Billion Without Really Crying," Bloomberg. com. January 10,2011. 

"Snowplow Slowdowns Might Become American Way," Bloomber.com.January 2, 2011. 

"The Right Way to Balance the Budge~" with Andrew G. Biggs and Matt Jensen, Wall Street Journal, 

December 29,2010. 

"Fed's Free Money Lures This Important Writer," Bloomberg. com. December 27, 2010. 

• A Guide for Deficit Reduction in the United States Based on historical Consolidations That Worked," with 

Andrew Biggs and Matt Jensen, AEJ Online. December 27, 20 I 0. 

"Irish Sovereign Debt Default Would Be Far from Armageddon," Bloomberg. com. December 13,2010. 

"U.K. Takes Medicine, Greece Turns Doctor Away," Bloomberg. com. December 5, 2010. 

"I'd Sign Any Letter to Avert Inflation Crisis," Bloomberg. com. November 21,2010. 

"Pigs Fly as Washington Faces Up to Deficit PeriL" Bloomberg.com. November 15, 2010. 

"End, Don't Extend, Bush Tax Cuts for Fresh S~" Bloomberg. com. November 8, 2010. 

"Who Is Really on the March?," National Review. November 2, 2010. 

"Divided Washington Is What U.S. Economy Needs," Bloomberg. com. October 31,2010. 

"Ask Labor Whether Foreign Money Is Pouring In," Bloomberg. com. October 24,2010. 

"Obama's Foreclosure Inaction Risks Katrina Redux," Bloomberg. com. October 17, 2010. 

25 
55 


60617024.eps

"Post Office Shows Where United States Is Headed," Bloomberg. com. October II, 2010. 

"Leftwa!d and Downward," National Review. OctoberS, 2010. 

"China Bashers Pass Buck on Why United States Is Ailing," Bloomberg. com. October 3, 2010. 

"Republican Pledge Misses Radical Fix United States Needs," Bloomberg. com. September 26,2010. 

"Carter Sbows Where Obama Needs to Go," Bloomberg. com. September 19, 2010. 

"Obama's Insults Mask Fear of Boehner's New Ideas," Bloomberg. com. September 12,2010. 

"Obama Discovers Incentives," with Glenn Hubbard, Wall Street Journal. September 10, 2010. 

"Your Fat Paycheck Keeps Neighbors Unemployed," Bloomberg. cam. September 6, 2010. 

"The Small Business Tax Hike and the 97 Percent Fallacy," with Alan Viard, Wall Street Journal. September 3, 

2010. 

"Christie Channels Reagan to Become Anti-Obarna," Bloomberg. com. August 29, 2010. 

"Bury Keynesian Voodoo before It Can Bury Us," Bloomberg. com. August 22,2010. 

"Obama's Obsession Drives Progress in Reverse,'' Bloomberg. com. August IS, 2010. 

"ObamaCare Only Gets Worse Upon Further Review," Bloomberg. com. August I, 2010. 

"Obama Defmes Dysfunction with One Appointmen~" Bloomberg. com. July 25, 2010. 

"Beware Greedy Heirs If You Hope to See 20 II,'' Bloomberg. com. July 19, 20 I 0. 

"Housing Gets Sick on Keynesian Roller Coaster," Bloomberg. com. July 12,2010. 

"Ask George W. Bush How to Avert a Double Dip," Bloomberg. com. July 6, 2010. 

"Obama Discovers One More Crisis for a Toxic Tax," Bloomberg. com. June 28,2010. 

"Distributional Impacts in a Comprehensive Climate Policy Package," with Aparna Mathur and Gilbert Metcalf, 

AEI Online. June 23,2010. 

"Democrats of2004 Brand Obama Worst President," Bloomberg. com. June 21,2010. 

"Milton Friedman Holds Secret to Plugging We " Bloomberg. com. June 14, 2010. 

"The Tax Hike on Carried Interes~" with Alan Via!dAEI Online. June 7, 2010. 

"How to Think About Taxing Carried Int~" with Alan Via!d, The American. June I, 20 I 0. 

"ChiefObama, Seeing Smoke, Dido~ Buy Fire Truck,'' Bloomberg. com. June I, 2010. 

26 
56 


60617025.eps

"Markets Scream through Dodd's Stifling Embrace," Bloomberg. com. May 24,2010. 

"Pulled Together in the Web," National Rtl'iew. May 17,2010. 

"Greece's Bailout Heroes Arrive in Leaking Boats," Bloomberg. com. May 17,2010. 

"Freddie Finances Scarier than Bad Slasher Flick," Bloomberg. com. May 10,2010. 

"Arizona Republicans Push Party Far to the White," Bloomberg. com. May 3, 2010. 

"Goldman Sachs Money for Obama Wins at Monopoly," Bloomberg. com. April26, 2010. 

"Summers Smokes as Obama Puts Politics above All," Bloomberg. com. Aprill9, 2010. 

"Stock Returns Imperiled by Pay-as-! .Say Obama," Bloomberg. com. Aprill2, 2010. 

"Energy lndependeoce Talk Is Just So Much Gas," Bloomberg. com. AprilS, 2010. 

"Work-Sharing Could Work for Us," with Dean Baker, Los Angeles Times. AprilS, 2010. 

"Obama's Raid on Wealthy Is More of Awful Same," Bloomberg. com. March 29, 2010. 

"Toyota Gets Wrecked by Labor's Runaway President," Bloomberg.com. March22, 2010. 

"Racial Recession," National Rtl'iew. March 22,2010. 

"Clinton Myth Spins Obama toward Midterm Massacre," Bloomberg. com. March 15,2010. 

"Mortgage Morality," National Rtl'iew. March 8, 20 I 0. 

"How to Create 3 Million Jobs with Pencil, Ruler," Bloomberg. com. March I, 2010. 

"Fiscal Relativity," National Review. February 22,2010. 

"Stimulus Tab of$41,800 Waits for Wall Streeters," Bloomberg. com. February 22,2010. 

"Obama's Love of Labor Makes for One Unholy Union," Bloomberg. com. February 15,2010. 

"More Stress Is Path Forward for New Bank Rules," Bloomberg. com. February 8, 2010. 

"Double Dip Risk Rises after Inventory Blowout," Bloomberg. com. February l, 2010. 

"Centerfold Senator Is Stud on Economics as Well," Bloomberg. com. January 2S, 2010. 

"Congress's Bane," National Review. January 25,2010. 

"'Manchurian' Obarna Tries Big Plans at Worst Time," Bloomberg. com. January 19,2010. 

"Atom Smasher Exposes Hole in Earth's Defenses," Bloomberg. com. January II, 20 I 0. 

27 
57 


60617026.eps

"Sunsets Are the Big Tax Story of2010," Bloomberg.com. January 4, 2010. 

"Marxist Professors Are Gift to Climate Skeptics," Bloomberg. rom. December 21,2009. 

''U.S. Spend-a-thon Risks Slide into Greek Tragedy," Bloomberg.com. December 14,2009. 

"Dismal Scieotists Miss the Optimism in Jobs Data," Bloomberg. rom. December 7, 2009. 

"Revolutionary Road." National Review. December 7, 2009. 

"Commanding Obama Ditches Pelosi for Afghanistan," Bloomberg. com. December 3, 2009. 

"Taxes Around the World," with Apama Mathur, AEI Online. December 3, 2009. 

"Geithners Crisis Sleepw-alk Is Reason He Must Go," Bloomberg. com. November 23,2009. 

"Dollaz's Demise Traces Roots to U.S. Tax Trap," Bloomberg. com. November 16,2009. 

"U.S. Should Try Germany's Unemploymeot Medicine," Bloomberg. com. November 9, 2009. 

"Republicans Are Smarter, No Matter Obama's Scorn," Bloomberg. com. November 3, 2009. 

"Toddlers Buy Houses When Stimulus Trumps Reason," Bloomberg. com. October 26, 2009. 

"Fundamental Tax Reform in California," with Alan Viani and Alex Wein, Tax Notes. October 26, 2009. 

"ObamaCare Debate Risks Lives of More U.S. Troops," Bloomberg. rom. October 19, 2009. 

"Obamacare Tax Frays Middle.Class Vow," Bloomberg. com. October 12, 2009. 

"Hand Over Your Job If You Want to Dream in Green," Bloomberg. com. October 5, 2009. 

"Obama's Too-Big-to-Fail Plan Is Too Dumb to Pass," Bloomberg. com. September 28,2009. 

"Stimulating Foreigners," National Review. September 21, 2009. 

"As Acorn Falls, Democrats Would Be Wise to Duck," Bloomberg. com. September 21,2009. 

"The Deficit Endgame," with Desmond Lachman and Apama Mathur, AEI Online. September 17, 2009. 

"Big Spill's Bad Timing Puts Oil Drilling at Risk," Bloomberg. com. September 14, 2009. 

"Obama Heeds Dictator Handbook with School Speech," Bloomberg. com. September 8, 2009. 

"Dollar Is Funny Money in Push for World Currency,"Bioomberg.com. August 31, 2009. 

"Start Spreading the TED," Narional Review. August 24, 2009. 

"Investors Don~ See Bubble While Drunk on Lafite," Bloomberg. com. August 24, 2009. 

28 
58 


60617027.eps

"Cheney Was Right All Along about Budget Deficits, n Bloomberg. com. August 17, 2009. 

"Terrorist Teas, Botox Subsidies Top Fall Agenda," Bloomberg. com. August!O, 2009. 

"Blue Dogs Bark, Don~ Bite Socialized ObamaCare,» Bloomberg. com. August 3, 2009. 

"Obama's Inner Radical Unbound in Gates Cop Case,» Bloomberg. com. July 27,2009. 

"Stimulus Is Bankrupt Antidote to Failed Stimulus," Bloomberg. com. July !3, 2009. 

"California's Nightmare Will Kill Obamanomics," Bloomberg. com. July 6, 2009. 

"Bemanke Break Means Reappointment Is Assured," Bloomberg. com. June 29,2009. 

"'bama is Innocent, n with Alex Wein, Forbes.com, June 29, 2009. 

"Recession Blues, n National Review. June 22, 2009. 

"'bama Flubs ScbumpeterCreative DestruCtion 101," Bloomberg. com. June 22,2009. 

"Joke's on Lettennan as Other Comics Roast Obama," Bloomberg. com. June 15,2009. 

"'bama Tells American Businesses to Drop Dead, n Bloomberg. com. June 8, 2009. 

"California LeadsNaiion to Bond Default Abyss,» Bloomberg. com. June I, 2009. 

"Deceiver-in-ChiefDarts Left, Right, Dizzies All," Bloomberg. com. May 26, 2009. 

"The Consumer Burden ofa Carllon Tax on Gasoline," AEI Online. May 26, 2009. 

"Inheriting $4.8 Trillion Will Leave You Broke," Bloomberg. com. May 18,2009. 

"Failed Liberal Newspapers Earn Boot, Not Bailout," Bloomberg. com. May II, 2009. 

"Goldman Sachs Foreshadowed UA W's Chrysler Coup," Bloomberg. com. May 4, 2009. 

"NFL Draft Signals Giants-Patriots Super Rematch," Bloomberg. com. April28, 2009. 

"U.K.'s Sudden Star Boyle Revives American Dream," Bloomberg. com. April20, 2009. 

"'verstirnulaled," National Review. April20, 2009 

"Fed's Flood May Leave Democracy Needing Bailout, n Bloomberg. com. Aprill3, 2009. 

"Milton Friedman's "Pluck' Gives Hope to Jobless," Bloomberg. com. April6, 2009. 

"Recession Bites into Social Security's Surplus. n Bloomberg. com. March 30, 2009. 

29 
59 


60617028.eps

"Auto Union Drove GM to trouble," March 30, 2009. MarkttPiace 

"Geithner May Find Courage in Inevitable Ouster," Bloomberg.aJm. March 23,2009. 

"A World-Class Defici~" National Review. March 23,2009. 

"Obama Can Help Stocks with a Year-Long Vacation," Bloomberg.aJm. March 16,2009. 

"'Manchurian Candidate' Starts War on Business," Bloomberg. com. March 9, 2009. 

"Why Fiscal Stimulus Is Unlikely to Work," AEI Online. March 3, 2009. 

"Obama Spending Shocks in Scale, Builds Upon Bush" Bloomberg. com. March 2, 2009 

"When Will the Recession Be Over?" New YorkTime.s. March I, 2009. 

"Ivy League White House Mimics Finance Masters," Bloomberg.com. February 23,2009 

"The Setond Coming of Keynes," National Review, February 23, 2009 

"Harvard Narcissists with MBAs IGI!ed Wall Street." Bloomberg, February 17, 2009 

"Washington's Future Billionaires Need Salary Cap" Bloomberg, February 9, 2009 

"How to Get a Bead on Your True Love" The Washington Post, February 8, 2009 

"Enjoy Stimulus Now, Pay Your$14,000 Share" Bloomberg, February 2, 2009 

"Obama's First Civility Test Is Pelosi's Manners" Bloomberg, Monday, January 26, 2009 

"Super-Sized Stimulus" NaJional Review, JaniUII)' 26, 2009 

"Geithner Taxed by Kafka-Like Code, Should Fix It" Bloomberg, January 20, 2009 

"Obama Will Spend Less-· Way Less Than Bush Posted" Forbes, January 19, 2009 

"The Lesson from the Crisis: Regulations Are Worthless Trillion-Dollar Spree Is Road to Ruin, Not Rally" 

Wirtsc/wjiswoche, January 18, 2009 

"Trillion-Dollar Spree Is Road to Ruin, Not Rally" Bloomberg, January 12,2009 

"Obama's Billions Could Render Furnaces Obsolete" Bloomberg, January 5, 2009 

"Minnesota's Retount fi= Needs New Solution" Bloomberg, December 29, 2008 

"Bush's Legacy May End Up Better Than You Think" Bloomberg, December 22,2008 

"New $3 Trillion Bailout Is Coming to the Masses" Bloomberg, December 15,2008 
60 


60617029.eps

"The Regulators' Rough Ride," National Review, December 15, 2008 

"Hedge Fund Roach Motels Might Just Be a Blessing" Bloomberg, December 8, 2008 

"Citigroup, Rubin's Good Names Belie Sorry Record," Bloomberg, December I, 2008 

"Re: Distribution," National Review, December I, 2008 

"The Four Horsemen ofBarack. Obama," National Review, December I, 2008 

"Obama Scores A's in Politics, Flunks Leader Tests, • Bloomberg, November 24,2008 

"The Auto Industry's Future," with Kenneth P. Green, Robert W. Hahn, Martin Feldstein, Peter Passel~ AEI 

Online, November 24, 2008 

"Republican Tone Might Transform Toxic Politics, • Bloomberg, November 10,2008 

"'Panic of2008' Is Better Than the Alternative,'' Bloomberg, November 3, 2008 

"How to Steal the Election in a Few Simple Steps," Bloomberg, October27, 2008 

"Bush Needs to Send in Reinforcements to the Fed," Bloomberg, October 20, 2008 

"Sale of the Century," National Review, October 20,2008 

"Don't let Sunspots or Headlines Make You Panic," Bloomberg, October 13,2008 

"SARS Response Offers Lessons for Credit Panic," Bloomberg, October 6, 2008 

"Magic Ring to Save Us May Be Accounting Overhaul," Bloomberg, September 29, 2008 

"How the Democrats Created the Financial Crisis," Bloomberg, September 22, 2008 

"Big-Spending Democrats Squander Trust of Voters," Bloomberg, September 15, 2008 

"The Rich, Soaked," National Review, September 15,2008 

"Democratic Storyline Can't Survive the Debates," Bloomberg, September 8, 2008 

"From Democrats, Change That's Difficult to Find," Bloomberg, September 2, 2008 

"Corporate Taxes Aie Killing the U.S. Auto Industry," Bloomberg, August II, 2008 

"Drill, Don't Redistribute," National Review, August 18,2008 

"Democrats Offer Lesson in Misleading on Taxes," Bloomberg, August 18, 2008 

"'Highways to Hell' Should Go on Auction Block," Bloomberg, August 4, 2008 

3t 
61 


60617030.eps

"Start Drilling Now to Lower Oi~ Gasoline Prices," Bloomberg, July 28, 2008 

"Fair-Weather Capitalism Sweeps U.S. in Crisis," Bloomberg, July21, 2008 

"Cluistie Brinkley Is Not the Only Victim ofDivorce," Bloomberg, July 14,2008 

"Nobody Home," National Review, July 14, 2008 

"World's Poor Hunger for Free Trade," Bloomberg, July 7, 2008 

"Inllation Menace Has Echoes ofVolcker's Days," Bloomberg, June 30,2008 

"NBA Home Bias Suggests Referees Committing Fouls," Bloomberg, June 23, 2008 

"Lieberman Makes Risky Bet in Speculation-Ban Bid," Bloomberg, June 16,2008 

~'Entrepreneurial Exceptionalism," National Review, June 16,2008 

"Seeing Recession When There's None to Be Found," Bloomberg, June 9, 2008 

"Oil Tax Exposes Democrats' Economic Illiteracy," Bloomberg, June 2, 2008 

"Little League, Huge Effect," with Soon Ganz, AEI Online, May 20, 2008 

"Polar Bear Ruling to Bring Tsunami of Lawsuits," Bloomberg, May 19,2008 

"States of Recession," National Review, May 19,2008 

"Polar Bears Threatening to Deliver Us $200 Oil," Bloomberg, May 12,2008 

"Lowly Ravens, Falcons Fly High in College Draft," Bloomberg, May 5, 2008 

"Obama..Ciinton Battle Will Haunt Party's Nominee," Bloomberg, April28, 2008 

"Food Crisis Show How Bad Policies Can Be Deadly," Bloomberg, April21, 2008 

"Deviant Economics," National Review, April21, 2008 

"SEC Rule Can Make It a Crime to Defend Yourself," Bloomberg, Aprill4, 2007 

"Bear Stampede Outdoes Even 'Mary Poppins' Panic," Bloomberg, April?, 2008 

"Cronies against Capitalism," National Review, March 24, 2008 

"Here's One Crystal Ball You Can Bet On in 2008," Bloomberg, March 24,2008 

"Regulations Are at the Root ofU.S. Housing Mess," Bloomberg, March 17, 2008 

"Irrational Pessimism Pummels U.S. Bond Marke~" Bloomberg, March 3, 2008 

32 
62 


60617031.eps

"'bama Poses as Change Agen~ Sings to the Choir," Bloomberg, February 25, 2008 

"The College-Endowment Racket," National Review, February 25, 2008 

"How George W. Bush, Big Spender, Destroyed Nirvana," Bloomberg, February II, 2008 

"Ignore the obituaries, U.S. Reign Will Endure," Bloomberg, February 4, 2008 

"Who's Afiaid of$100 a Barrel?" National Review, January 30,2008 

"Fed Got it Right on Rates, lfPast Is Any Guide," Bloomberg, January 28, 2008 

"Forget Economic Stimulus, Fix the U.S. Tax Code," Bloomberg, January 22, 2008 

"5 Myths about That Depressing R-Word," Washington Post, January 20,2008 

"Chuck Norris Wms Hands Down over Attack Ads," Bloomberg, January 14, 2008 

"How to Put Meaning in Worthless Fed Forecasts," Bloomberg, January 7, 2008 

"The Whys and Hows of Energy Taxes," Issues in &ience and Technology, January I, 2008 

"So Much Economic Good News amid So Little Cheer," Bloomberg, December 31, 2007 

"Sovereign Funds Offer U.S. Big Gains, Small Risk," Bloomberg, December 24, 2007 

"U.S. War on Poverty Ignores One Group of Victims," Bloomberg, December 17, 2007 

"Tribbulations," National Review, December 17,2007 

"The Facts Say No," New York Times, December 16,2007 

''Tax Fix May Doom Spending Cuts, and Democrats," Bloomberg, December 10,2007 

"How Futures Trades Can Advance U.S. Democracy," Bloomberg, December 3, 2007 

"At Last, a Simple Exercise to Ward Off Obesity," Bloomberg, November 26,2007 

"Iraq Movie 'Curse' Is a Myth Worthy of Hollywood," Bloomberg, November 19,2007 

"Taxes, Taxes, Taxes," Natwnal Review, November 19,2007 

"Bush Tax Cuts Exploded Clinton-Era Deficit Myth," Bloomberg, November 12, 2007 

"'Bottled Poetry' Still Offers Killer Returns," Bloomberg, November 5, 2007 

"Rangel's 'Mother of All' Tax Bills Is 'Psycho'," Bloomberg, October29, 2007 

33 
63 


60617032.eps

"The Games We Play," National Review, October 22, 2007 

"Paulson Stakes His Legacy on Subprime Bailou~" Bloomberg, October 22, 2007 

"After Nobel, Gore Should Go for Next Big Prize," Bloomberg, October I 5, 2007 

"Hillary Clinton Reigns as Queen of Federal Pork," Bloomberg, October 9, 2007 

"GM, UAW Find a Cure at Last for 'Union Cancer'" Bloomberg, October I, 2007 

''Hillary and Health Care Prove a Toxic Mix Again," Bloomberg, September 24, 2007 

"Bust and Boom," National Review, September II, 2007 

"Volcker Shows Us Why the World Bank Doesn't Work," Bloomberg, September 17,2007 

"An Employment Reeession May Already Be with Us," Bloomberg, September 10,2007 

"Bush Hits Just Right Note in Facing Housing Mess," Bloomberg, September 4, 2007 

"Housing Market Crisis May Already Have Passed," Bloomberg, August 27, 2007 

"A VAT of Trouble," National Review, August 13,2007 

"An Energy Tax Policy for the Twenty-First Century," with Gilbert E. Metcalf, International 

Association.for Energy Economics Newslelter, Third Quarter, August 2007 

"A Modest Proposal to Revolutionize Oil Market," Bloomberg, August 6, 2007 

"U.S. Still Great, Even as Democrats Act Small,'' Bloomberg, July 30, 2007 

"Want the Real Secret of Harry Potter's Success?" Bloomberg, July 23,2007 

"Does New York Prefer Gridlock and Pollution?" Bloomberg, July 16,2007 

Workaholics," National Review, July 20, 2007 

"Now We Know What It Takes to Get the Fed to Move," Bloomberg, July 9, 2007 

"No, Congress, Investors Are Not Pornographers," Bloomberg, July 2, 2007 

"Here's an Easy Way out of Our Tax Mess (No Joke)" Bloomberg, June 25, 2007 

"Why Did the Fed Help North Korea Launder Money?" Bloomberg, June 18,2007 

"Hot Coals," National Review, June II, 2007. 

"Miss World' Pulls Off a Climate-Change Coup," Bloomberg, June II, 2007 

"Taxation of Corporate Gains on Sales of Depreciable Property," Tax Notes, June 4, 2007 

34 
64 


60617033.eps

"Trembling over Tainted Food? Here's a Solution," Bloomberg, June 4, 2007 

"Climate Change: Caps vs. Taxes," with KeruJeth P. Green and Stephen F. Hayward, AEI 

Environmental Policy Outlook, June I, 2007 

"Congress, Defying Logic, Battles Gas 'Gougers'" Bloomberg, May 29, 2007 

"So, Where's the Beef in Obama's Big New Ideas?" Bloomberg, May21, 2007 

"A New Tax Revol~" Nationol Review, May 14,2007 

"Does Economic Success Require Democracy?" The Americon, May/June 2007 Issue 

"Will Economists Whip NFL Experts Again on Draft?" Bloomberg, May 7, 2007 

"Democrat Debate Bared a Lot More Than You Think," Bloomberg, April 30, 2007 

"Wolfowitz's Oue Sin Was Waging WBI on CollUption," Bloomberg. April23, 2007 

"Pelosi, Tied Up in Knots, Needs to Think Small," Bloomberg, Aprill6, 2007 

"The Postcanl Solution," Naticnol Review, Aprill6, 2007 

"Why We Pay without a Whiniper," Washington Post, Aprill6, 2007 

"Taxing Policy Taking U.S. Down the Road to France," Bloomberg. Apri19, 2007 

"Ready for a Big Retirement Surprise? Save Now," Bloomberg. Apri12, 2007 

"Arnold, Rush Battle for Republican Party's Soul," Bloomberg, MBICh 26, 2007 

"Shocking Truth about Economy-We're Con ten~" Bloomberg, MBICh 19, 2007 

"Go Flat-Now," Nationol Review, MBICh 19,2007 

"Time for Greenspan to Get with I~ Start a Blog," Bloomberg, MBich 12, 2007 

"A Little Bad Luck May Mean Big Woes for Economy," Bloomberg. March 5, 2007 

"Comics Rule!," The American, MBICh!April 2007 Issue 

"NFL Coaches are Outplayed by Economists in Draft," Bloomberg, February 26, 2007 

"Tax Gap" Levies Big Burden on Honest Americans," Bloomberg, February 20, 2007 

"Just Why Do Our Celebrities Behave So Boorishly?," Bloomberg. February 12, 2007 

"Paulson Has Clout for Showdown over Worst Tax," Bloomberg, February 5, 2007 

35 
65 


60617034.eps

"Beware of Bush's Latest Fix for Energy Policy," Bloomberg. January 29,2007 

"Time for Democrats to Give Up the Grudge Match," Bloomberg. January 22, 2007 

"Can a Democratic Congress Stop the Escalation, • Bloomberg. January 15,2007 

"Democrats Likely to Lose "Virtue" on U.S. Budge~" Bloomberg, January 8, 2007 

"Flight from Russia," National Review, December 31, 2006 

"Go Ahead, Splurge; Wine Proves Top lnvestmen~" Bloomberg. December 18,2006 

"Of Growth and Gaps," NaJional Review Online, December 14, 2006 

"Time to Face Facts About Surging Iraq War Costs," Bloomberg, December II, 2006 

"Did the Three Kings Bear Gift Receipts?," Washington Post, December 10,2006 

"The 25-Year Boom," National Review, December 4, 2006 

"Sarbanes-Oxley Costly Cure for What Ails Market," Bloomberg, December 4, 2006 

"What Would a Rational Energy Tax Policy Look Like?," with Gilbert E. Metcalf, Tax Analysts, 

November 27, 2006 

"Paulson's Bid for Social Security Fix is Doomed," Bloomberg. November 27,2006 

"Patriots vs. Redskins," The American, November 21, 2006 

"Want to Fix the AMT? Here are Two Simple Steps," Bloomberg, November 20, 2006 

"New Democrats Sing Old, Populist Tune on Economy," Bloomberg. November 13, 2006 

"Ignore Democrat Spin; the Bush Economy is Solid," Bloomberg, November 6, 2006 

"Where Clinton Beats W.," National Review, November 6, 2006 

"Halloween Is an Economist's Biggest Nightmare," Bloomberg October 30, 2006 

"Congress Needs Ideas? Here Are Five to Start," Bloomberg, October 23, 2006 

"Democratic Agenda Full of Same Old, Tired Ideas," Bloomberg, October 16,2006 

"Eoonomy May Bring More Bad Luck for Republicans," Bloomberg, October 9, 2006 

"Free to Choose (As Someone Once Said)," NaJional Review, October 9, 2006 

"Conspicuous Consumption: How to Measure Economic Well-being" with Aparna Mathur, National Review, 

October 9, 2006 

36 
66 


60617035.eps

"'City on a Hill' Is No Place for a Border Fence," Bloomberg, October 2, 2006 

"Want to Avoid the Housing Slump? Drop the Commute," September 25, 2006 

"Harvard, Ending Early Admissions, Increases Pain," Bloomberg, September 18, 2006 

"Sept II Attru:ks Drag on the World Economy Today,'' Bloomberg, September II, 2006 

"Let's Also Honor Labor's Best Friend," Bloomberg, September 4, 2006 

"Creative Accounting: MoMA's Economic Impact Study," with Phillip Swage!, Wall Street Journal, August 30, 

2006 

"Beroaoke Can Aid Economy by Taking a "Breather," Bloomberg, August 29, 2006 

"Knowing the Score," National Review, August 7, 2006 

"Internet 'Zombie' Threat Needs Killer Reponse," Bloomberg, July 31, 2006 

"Is Politics Broken? The Answer Is in the Air," Bloomberg, July 24, 2006 

"World Economy Would Be Casualty of Mideast War," Bloomberg, July 17, 2006 

"Innovation Drives U.S. Economy- R&D Drives Innovation," "SIA Summer 2006 Newsletter," July 13, 

2006 

"Why a Higher Minimum Wage Is Bad Economic Policy," Bloomberg, July 10,2006 

"The American Colossus, In Perspective," Naiional Review, July 3, 2006 

"Baseball's National League Looks Minor League," Bloomberg, July 3, 2006 

"Time to Get Over Those Oil "Dependency' Blues," Bloomberg, June 26, 2006 

"Republicans Have Last, Best Chance to Limit Pork," Bloomberg, June 19,2006 

"Bemanke Can Thank Greenspan for His Troubles," Bloomberg, June 12, 2006 

"No Dragons Here," National Review, June 5, 2006 

"Why We Should Be Glad Henry Paulson Said Yes," Bloomberg, June 5, 2006 

"Lefs Give John Snow the Praise He Has Earned," Bloomberg, May 30, 2006 

"Trial Lawyers are Down," National Review, May 22, 2006 

"Political Harmony in '08 after Bloodshed in '06!" Bloomberg, May 15,2006 

"High Anxiety," National Review, May 8, 2006 

37 
67 


60617036.eps

"Bush Says No Again, and This Tune He May Mean I~" Bloomberg, May 8, 2006 

"Who Won lhe NFL Draft? Economics Say Green Bay," Bloomberg, May I, 2006 

"The Lessons ofPioot Noir for the Energy Malket," Bloomberg, April24, 2006 

"Hillary the Front-Runner Stakes Out the Center," Bloomberg, April!?, 2006 

"Off the Dole, Ten Years Later," National Re~>iew, April!O, 2006 

"Why Economics Makes Getting into College So Hard," Bloomberg, April I 0, 2006 

"In U.S. Immigration Debate, Specter Has It Righ~" Bloomberg, April3, 2006 

"France Discovers a Way to Fight Apple-Piracy," Bloomberg, March 27,2006 

"Jilted-Impostor, How George W. Bush Bankrupted America and Betrayed the Reagan 

National Re~>iew, March 27, 2006 

"Blame Money, Selig for Baseball Mess, Not Bonds," Bloomberg, March 20, 2006 

"In Pursui~" National Review, March 13, 2006 

"President Bush, Please Listen to Robert Rubin," Bloomberg, March 13,2006 

"Hollywood, Olympics, Networks Lose Their Magic," Bloomberg, March 6, 2006 

"For Katrina II, Let's Pretend There Are No Feds," Bloomberg, February 27, 2006 

"Coming Soon--Big Growth, Big Elf~" Bloomberg, February 21, 2006 

"Righter than Ever," National Review, February 13, 2006 

"Ethanol's a Big Swn, and Bush Has Fallen for I~" Bloomberg, February 13,2006 

"What to Do if Bush Calls You for Conunission Duty," Bloomberg, February 6, 2006 

"Economic ambition key to Bush legacy," Australian Financial Re~>iew, February 2006 

"Entry in "SOTU Critics Room,"" National Review Online, February I, 2006 

"Bemanke-Be Tough, Independent, Raise Rates," Bloomberg, January 30,2006 

"I(s Time to Face Up to the U.S. Medicare Crisis," Bloomberg, January 23, 2006 

"Economists Look at the True Cost of the Iraq War," Bloomberg, January 17, 2006 

"Le(s Cut Corporate Taxes to Create More Jobs," Bloomberg, January 9, 2006 

38 

Legacy," 
68 


60617037.eps

"Is Iran the Cause of That Inverted Yield Cwve?," Bloomberg. January 2, 2006 

"Reagan the Poverty Slayer," National Review, December 31, 2005 

"The Economic Conundrum of Christmas Gift Giving," Bloomberg. December 31, 2005 

''Unions Wage Vicious, Misguided War on Wal-Mart," Bloomberg. December 19, 2005 

"Bush Abandons Tax Reform, Washington Gets Uglier," Bloomberg. December 12,2005 

"Let's Stamp Out the Money Roaches in Congress," Bloomberg, December 5, 2005 

"How the Fed Should Steer the Bemanke Transition," Bloomberg. November 28, 2005 

"Bush's Weaknesses May Strengthen Tax-Reform Hopes," Bloomberg, November 21,2005 

"Justice Department Persists in Harassing Oracle," Bloomberg, November 14,2005 

"Bush Tax Panel Changes Wouldn~ Slam Home Prices," Bloomberg. November 7, 2005 

"With Bemanke at Bat, Fed Will Target Inflation," Bloomberg, October 31,2005 

"Perfect Candidate for Office--Kaspar Hauser," Bloomberg. October 24, 2005 

"Costly U.S. Tort System Doesn't Improve Safety," Bloomberg, October 17, 2005 

"Conservatives Must Regain Buckley Vision, Clout," Bloomberg, October I 0, 2005 

"Why Bush Will Deliver on His Vow to Reform Taxes," Bloomberg. October 3, 2005 

"How Not to Help the Hurricane Regions: Tax Oi~" Bloomberg. September 26, 2005 

"Even Brazil's Lula Doesn't Have Bush's Troubles," Bloomberg. September 19,2005 

"19th Century Taxes in the 21st Century Economy," Tech Central Station, September 15, 2005 

"Little Guys Get Some Love," Tech Central Station, September 15, 2005 

"Let's Tie Katrina Aid to People, Not Just Places," Bloomberg. September 12,2005 

"Katrina's Rebuilding Boost Won't Come Quickly," Bloomberg. September 6, 2005 

"The Misguided Assault on the U.S. Drug Industry," Bloomberg, August 29, 2005 

"Democrats Need New Ideas, Not New Think Tanks," Bloomberg. August 22, 2005 

"Why Are Americans Sour about Everything? Iraq," Bloomberg, August 15, 2005 

"CNOOC Episode Unites Protectionists and Hawks," Bloomberg. August 8, 2005 

39 
69 


60617038.eps

''How President Bush's Social Security Reform Died," Bloomberg. August I, 2005 

"Justice Roberts Will Be Good for the Economy," Bloomberg. July 25, 2005 

"Bring Back Clinton-Just His Spending Habits," Bloomberg. July 18,2005 

"Markets and the British Can Deal with Terrorism," Bloomberg. July 11,2005 

"Pigskin, Politics, and the President" National Review Online, Apri129, 2005 

"NYSE, Nasdaq Deals Are Win-Win" Investor's Business Daily, April29, 2005 

"Tax Reform 101" Tech Cen11a/ Station, April26, 2005 

"Fitting the Bill?" with Maya MacGuineas, National Review Online, Aprill4, 2005 

"Promises, Promises" with Maya MacGuineas, National Review Online, April4, 2005 

"Is the Payroll Tax a Tax?" National Review Online, March 29,2005 

"Hung Up on Words" with Maya MacGuineas, National Review Online, Mllltb 18, 2005 

"Social Security in Your Mailbox, What Will the Perronal-Acoount Statements Look Like?" with Maya 

MacGuineas, Natwna/ Review Online, Mlllth 11, 2005 

"Ants and Grasshoppers," Wall Street Journal, February 7, 2005 

"Study: Price Controls Harm Patients," TechCentra/Station, December 22, 2004 

"Towards an Optimal Governing Area," The National Interest, December 17, 2004 

"Pro-Growth or Pro-Pork?" TechCen11'a/Station, October 25, 2004 

"The Washington Policy Shell Game," Investors Action, October 21 , 2004 

"Queasy About The Economy? May Be Headlines You Read," Investor's Business Daily, October 8, 2004 

"Partisan Bias in Newspapers? A Study of Headlines Says Yes," Philadelphia Inquirer, October 6, 2004 

"The 'Squeeze' Play," National Review, September 13, 2004 

"Terror, Technology, and Financial Markets," www.techcen11'alstation.com, September 10,2004 

"The Reform Term," www.techcentralstatwn.com, September 3, 2004 

"Getting Recent Economic History Right," www.techcentra/station. com, September 2, 2004 

"Compassionate Concerns," www.techcentralstation.com, September I, 2004 

40 
70 


60617039.eps

"A Presidential Agenda," www.techcentralstation.com, August 31, 2004 

''The Kerry Campaign's Funny Math," www.techcentralstation.com, August 13, 2004 

"Kerry, a Generic Democrat," Australian Financial Review, August 3, 2004 

"Two T rillioo in Teo Y =," Wall Street Journal, July 27, 2004 

"The Long Boom," National Review, July 26, 2004 

"Annually Adjusted Rates Would Avoid Catastrophe," with Robert Shapiro, Chronicle of Higher Education, 

June 18,2004 

"Why Schroeder Lost, and What It Means for America," www.rechcentralstation.com, June 16, 2004 

"'Sin Screening' Is Ineffective at Best, Hannful at Worst," Chronicle of Higher Education, May 28, 2004 

"Down Payment Debate," www.techcentralstation.com, May 10, 2004 

"A Corrupted Punditry,'' The WeeldyStandard, May 10,2004 

"Pension Funds Abuse Power," USA Today, April27 . 2004 

"Kerry and Me," www.techcentralstatioli.com. April IS, 2004 

"A Troubling Requirement," Regulation Magazine, April !, 2004 

"Telecom at the Crossroads," www.techcentralstation.com, March 18th, 2004 

"Tales out of School, The Financial Disaster Everyone Missed"www.techcentralstation.com, March lOth, 2004 

"Good For America" New York Sun, January 28 2004 

"The Sigh of Relief Binge" www.techcentralstation.com, December 24111,2003 

"Saddam and French Logic" www.techcentralstation.com, December 16,2003 

"The Audacity to Succeed" National Review, December 8, 2003 

"A Final Thought on Thanksgiving" www.techcentralstation.com, December 2, 2003 

"Dividend Tax Cut Makes Sense" Investment Forum, December I, 2003 

"TRIPping Cures" National Review Online, November21, 2003 

"Guess Who's to Blame?" The American Enterprise, October/November 2003 

"Doctors without Economics" www.techcentralstation.com. October 30,2003 

41 
71 


60617040.eps

"Regulate Thyself' www.techcentralstation.com. October 29, 2003 

"Tax Policy of Hate" www.techcentralstation.com. October 23, 2003 

"A Level Paying Field" www.wsj.com, Opinion Journal, October 10,2003 

"D Is for Deficit" www. wsj.com, Opinion Journal, October 6, 2003 

"Doth Protest Too Much" www.techcentralstation.com, September 13,2003 

"Europe's Good Idea" www.techcentralstation.com, September II, 2003 

"Last Chance Boost" www.techcentralstation.com. August 26, 2003. 

"A Risky Shot in the Dark" www.techc~ntralstation.com; July 22, 2003. 

"Your Brain on Drugs" www.techcentralstation.com, July 18, 2003. 

"How Europe Sows Misery in Africa," (with Robert Shapiro) Washington Post (page B03), 

June 22, 2003. 

"Rich man, Poor man," National Revi~. June 16, 2003. 

"Consumption Function" www.techcentralstation.com, June 12, 2003. 

"The Dividend Fiasco," www.techcentralstation.com, May 9, 2003. 

"Haifa Loafis Pretty Good," www.techcentralstation.com. Aprill7, 2003. 

"The Axis of Losers," National Review Online, April!, 2003. 

"It's Dynamic!," Wall Street Journal, March 26, 2003. 

"Clueless Fed," www.techcentralstation.com. March 20,2003. 

"In For a Shock?," www.techcentralstalion.com, March 7, 2003. 

''The Deficit Club," www.techcentralstalion.com, February 6, 2003. 

"Kevin Hassett: Tax cut is shrewd politics," The Australian, January 9, 2003. 

"New Data Show NASDAQ Functions Better," www.techcentralstation.com. December II, 2002. 

"Old News is Good News," www.techcentralstation.com, October 29, 2002. 

"Inversion Hysteria: Retroactive penalties for legal behavior are a tax-policy low," National Revi~ Online, 

October 15, 2002. 

"Scoring with Meg," Wall Street Journal, October 9, 2002. 

42 
72 


60617041.eps

''Stick with Stocks," The American Enterprise SCAN, October/November 2002. 

"In Search of 'Community'," www.techcentralstation.com, September 9, 2002. 

"Quality and Competitiveness in Cenlnll Ewope," www.techcentralstation.com. September 6, 

2002. 

"Centnll Ewope and the EU: A Crossroads," www.techcentralstation.com, September 5, 2002. 

"Mititary Action Malaise," www.techcentralstation.com, September 5, 2002. 

"The Stock Market Without Tears: What we said in Dow 36,000; why the critics are wrong," National Review, 

September 2, 2002 

"Wealth for the Lazy," The American Enterprise, September2002. 

"Put Dow Doubts to Rest," www.techcentrolstation.com, August 5, 2002. 

"Dow 36000 Revisited," (with James K. Glassman) Wall Street Journal, August I, 2002. 

"Draft Greenspan," www.techcentralstation.com, August 2002. 

"Frontier Corporate Justice Works," Australian Financial Review, July 3, 2002. 

"Create, Destroy, Repeat," www.techcentralstation.com, June 28,2002. 

"Non-Profits?" www.techcentralstation.com, May 14,2002. 

"Unemployment Lines, Lies and Statistics," (with John R. Lott) New York Post, Aprill2, 2002. 

"Psst. The Recession Is Over," Wall Street Journal, March 28, 2002. 

"2002, A Boom Odyssey?" www.techcentralstation.com, March 19, 2002. 

"Beware of the Democratic Trap," (with John R. Lott) National Review, March 8, 2002. 

"Stock Market Blues," www.techcentralstation.com, February 25, 2002. 

"Mr. Greenspan's Opus," www.techcentralstation.com, January 21,2002. 

"Science Says: End of Recession Likely," www.techcenrralstation.com, December 31, 200 I. · 

"How the Republicans Lost the AMT Debate," (with J. Glasstnan) Wall Street Journal, December 20~ 2001. 

"Have We Really Been In a Recession Since March?" www.techcentralstation.com, November 28, 2001. 

''No Third Rail," National Review, November 19,2001. 

43 
73 


60617042.eps

"How High Is The Mysterious Ove!bang?" www.tec~centralstation.com, November 16,2001. 

"Economic News has a Silver Lining," Wall Street Journal, November 7, 2001. 

''fax Bill Would Stimulate High Tech," www.techcentralstation.com, October 15,2001. 

"To Beat Recession, More Policy Help Likely On the Way," www.techcentralstation.com. September 27, 2001. 

"Fear Of Terrorism Won't Spur Recession, But Other Factors May," www.techcentralstation.com, September 

13,2001. 

"Pooffor Profit Growth, Too?" www.techcentralstation.com, August 20,2001. 

"First-Tune Jobless Claims Gauge the Economy's Health Well," www.techcentralstation.com. August 7, 2001. 

"Social Security Reform Can't Wai~" Tht Wall Street Journal, July 20,2001. 

"Dueling Studies Square off on Causes of Economic Growth," www.techcentralstation.com. July 17,2001. 

"Sitting Pretty Through the New Economy's Recession," www.techcentralstation.com, July 3, 2001. 

"Interest Rates Have Almost Hit Bottom, and So Has the Economy," www.techcentralstation.com. May 29, 

2001. 

"RX for the Economy," The Wall Street Journal, May 16,2001. 

"The Good News on GDP May Be No News At All," www.techcentralstation.com, May 3, 2001. 

"Will Sentiment Catch Up with Reality?" www.techcentralstaJion.com, April 02,2001. 

"Beware the Lockbox," National Review, Man:h 30, 200 l. 

"Dow 36, 000? It's Still a Good Be~" The Wall Street Journal, March 20,2001. 

"The Taxing Machine," National Review, March 19, 2001. 

"Markets Have Lost Faith In Greenspan," www.techcentralstation.com, March 12,2001. 

"Right· Wing Hypocrites? Tax Policy of George W. Bush," The American Enterprise, Man:h 2001. 

"Tax Cuts and Tax Reform," Outlook, Hudson Institute, Man:h 2001, Vol. 3, No.3. 

"Are Investors Making a Market Bomb Out of an Economic Blip?" www.techcentralstation.com. February 26, 

2001. 

"Is Fed Acting To Halt A Recession, Or A Vacation?" www.techcentralstation.com, January 29,2001. 

"Where Do We Put the Surplus?" with R. G. Hubbard, The Wall Street Journal, January 29, 2001. 

44 
74 


60617043.eps

"What Will An Old Economy Tax Cut Do To The New Economy?" www.techcentralstation.com, January 15, 

2001. 

"The Dot-Com Drain: It Won't Cause The Same Credit Spiral As Real Estate Slide," Investor's Business 

Daily, January 12,2001. 

"Stock Prices Aren't the Fed's Job," with J. Glassman, The Wall Street Journ11l, January 5, 2001. 

"Will Dot-com Failures Lead Us to Recession?" www.techcentraLstation.com, January I, 2001. 

"Time for Tax Reform," The Wall Street JournaL December 20, 2000. 

"Ganging Up: What is Monopsony? A Surprisingly Powerful Force that's Coming Soon to A Market Near 

You," The Industry Standard, December II, 2000. 

"What Would A New Economy Recession Look Like?" www.techcenrralstation.com, December 4, 2000. 

"Moynihan's Internet Acoess Bill Defended," Tax Notes, November 13,2000. 

"How W. Won the Tax Debate," The American EnJerprise, November 2000. 

"A Nightmare for Halloween," www.techcentralstation.com, October 30, 2000. 

"What Do Profit Disappointments Mean in a New &onomy?"www.techcentraLstation.com, October 16,2000. 

"In the US, Political Gridlock Works Well," The Australian Financial Review, September 27,2000. 

"Oil Shock Hurts the Tech Sector Most," www.techcentraLstation.com, September 25, 2000. 

"A Tax Phantom is Stalking You," The American Enterprise, October/November 2000. 

"Washington Still Doesn't Get the New &onomy," www.techcentralstation.com, September 5, 2000. 

"Shane in the City," The American Enterprise, September 2000. 

"Outlaw Selective Disclosure? No, the More Information the Better," The Wall Street JournaL August 10, 

2000. 

"The Big Picture," The American Enterprise, July/August 2000. 

"The Fed Learns to Stop Bloodletting," www.techcentralstation.com, July 24, 2000. 

Debate on the Wealth Effect and the Stock Marke~ www.policy.com, July 19,2000. 

"Fun with Funhouse Mirrors," www.techcenJralstation.com, July 10,2000. 

"Hey, Mr. Greenspan: Wealth Creation Isn't a Problem," The Wall Street Journal, June 26, 2000. 

"Is the Phillips Curve Alive or Dead?" www.techcentraLstation.com, June 26, 2000. 

45 
75 


60617044.eps

"The Internet Killed Inflation," www.techcentralstation.wm, June 12,2000. 

''The Great Bubble Debate," Business Weelr, May 29, 2000. 

"My View From the Bus," The American Enterprise, April/May 2000. 

"Bear Up, The Cash Cows Will Still Deliver," Australian Financial Review, Aprill7, 2000. 

"America's Biggest Boom: Who Do We Thank?" The Ameriwn Enterprise, March 2000. 

"The McCain Tax Plan," with Charles Calomiris, The Wall Street Journal, February 10,2000. 

"Part 2: The Chasm Is Not Quite As Bad As Study Suggests," The Philadelphia Inquirer, January 30, 2000. 

"A Red·tape Cwtain Descends Across Europe," The American Enlerprise,January/February 2000. 

"Where Are Stock Prices Headed?" The American Enterprise, November/December 1999. 

"If Alan Greenspan Had Bitten the Bullet. .. ," The American Enterprise, November/December 1999. 

"Trust the Dow 36,000 Thesis," The Australian FinancUII Review, October 20, 1999. 

"We Are All Reaganites Now," The American Enlerprise, September/October 1999. 

"Overregulation Hurts Good Guys," USA Today, September 16, 1999. 

"Dow 36,000," with James K. Glassman, The Atlanlic Monlhly, September 1999. 

"Your SU!plus Checks Aren't in the Mail Yet," with Diana Furchtgott·Roth, Lcs Angeles Times, August 5, 

1999. 

"Dow Has A Long Way to Go," with J. Glassman, The Australian Financial Review, April29, 1999. 

"Fantasy Taxation,'' The American Enterprise, April/May 1999. 

"Stock Prices Are Still Far Too Low," Wall Street Journal, March 17, 1999. 

"Why Big Labor Keeps Getting Smaller," Wall Street Journal, August 3, 1998. 

"Vanishing Unions,'' The American Enlerprise, September/October I 998. 

"Are Stocks Overvalued?--Not a Chance,'' with J. Glassman, Wall Street Journal, March 30, 1998. 

"A New Brainstorm From the Left," The American Enterprise, March/Aprill998. 

"Debt 101," The American Enterprise, January/February, 1998. 

"Tax Code Penalizes Work, Not Marriage," with D. Furchtgott·Roth, Investor's Business Daily, January 16, 

1998. 

46 
76 


60617045.eps

"Unde Sam's Dowry," with D. Furchtgott-Roth, Intellectua/Capital.com, October 30, 1997. 

''The Skyline Tax," with D. Furchtgott-Roth, The Weekly Standard, September 29, 1997. 

47 
77 

PREPARED STATEMENT OF PAMELA HUGHES PATENAUDE 

TO BE DEPUTY SECRETARY, U.S. HOUSING AND URBAN DEVELOPMENT

JUNE 6, 2017 

Chairman Crapo, Ranking Member Brown, and distinguished Members of the 

Committee, it is a great privilege to appear before you this morning. I am deeply 

honored by President Trump’s decision to nominate me to serve as the Deputy Secretary of the United States Department of Housing and Urban Development. 

Mr. Chairman, if I may take a moment to introduce my family, my source of support and unconditional love: my husband of 32 years, Chuck Patenaude, and our 

three daughters, Caitlin, Meghan, and Jennifer. 

Housing has always been close to my heart and part of my family history. My 

late parents, Bob and Estella Hughes, together created and ran a successful homebuilding business in New Hampshire. In the Hughes household, there was simply 

no escaping talk about housing. 

For that reason, it was no surprise to my parents when I came to share their passion for housing. As a senior at Saint Anselm College, I experienced our Nation’s 

capital the same way as many college students do: as an intern. That internship, 

which began my career in housing, was at HUD’s headquarters some 35 years ago. 

Upon graduating from college, I worked for the New Hampshire Housing Finance 

Authority as a Section 8 rental assistance program administrator. 

After observing firsthand the transformational impact HUD programs could have 

on improving the quality of life for seniors and our most vulnerable citizens, I returned to Washington, DC, to serve in HUD’s Office of Multifamily Housing, where 

I further enhanced my technical knowledge of HUD’s rental assistance programs. 

During my three-decade career in housing, I have also served at HUD in several 

leadership roles: first as Assistant Deputy Secretary in the Office of Field Policy and 

Management, and later as Assistant Secretary for Community Planning and Development. 

As Assistant Deputy Secretary for Field Policy and Management, I helped restructure HUD’s critical field operations and developed a comprehensive training curriculum on HUD programs and policies for Regional and Field Office Directors. I 

also played an instrumental role in the development of HUD’s five-year Strategic 

Plan. More importantly, I worked hand-in-hand with the dedicated men and women 

of HUD who are closest to the people the department serves. 

As Assistant Secretary for Community Planning and Development, I administered 

more than $8 billion in community economic development and affordable housing 

funds. I managed a team of more than 800 experienced professionals committed to 

carrying out HUD’s mission. I also had the opportunity to support the recovery efforts in Lower Manhattan following September 11th and in the Gulf Coast States 

devastated by Hurricane Katrina. 

Outside of HUD, my career has focused on promoting housing policies that are 

aligned with the significant and growing needs of the American people. 

At the Urban Land Institute (ULI), I established the ULI Terwilliger Center for 

Workforce Housing, helping to draw attention to the plight of America’s most essential workers—the firefighters, police officers, nurses, and teachers, who are too often 

priced out of the communities they serve by high housing costs. Working alongside 

a bipartisan advisory board of national housing experts, we identified the regulatory 

policies that contributed to prohibitively high housing costs and shared best practices in tearing down unnecessary regulatory barriers. 

At the Bipartisan Policy Center, I directed the Housing Commission under the 

leadership of two former HUD Secretaries, Senator Mel Martinez and Secretary 

Henry Cisneros and Senators George Mitchell and Kit Bond. The Commission developed a comprehensive report outlining a new direction for Federal housing policy. 

Many of you may be familiar with the Commission’s recommendations on housing 

finance reform, which were released in 2013. 

Currently, I serve as President of the J. Ronald Terwilliger Foundation for Housing America’s Families, which seeks to elevate rental affordability as a national 

issue and educate policymakers about the silent housing crisis in America. Today, 

more than 11 million households pay in excess of 50 percent of their income on rent 

and utilities. A major cause of these high rent burdens is the severe shortage of affordable rental homes, particularly for the lowest-income families. Unfortunately, 

there is no single solution to this problem. It must be approached from multiple 

fronts—reform of regulatory and land use policies, greater incentives for private investment in affordable homes, and increased attention from State and local governments. 

78 

Through these initiatives, I developed strong working relationships with diverse 

members of the housing community, from affordable housing advocates and developers, to homebuilders, realtors, and mortgage bankers, to Government policymakers and academics. I am very proud to say that bipartisan collaboration has 

been a hallmark of these initiatives. 

In addition, my career in housing at the local, State and Federal levels of government has broadened my view of America’s housing policies. This unique perspective 

helps me understand the factors that contribute to the success of some programs, 

as well as the factors that diminish the well-intended impacts of other programs. 

As Matthew Desmond articulated in his Pulitzer Prize winning book Evicted, ‘‘we 

have failed to fully appreciate how deeply housing is implicated in the creation of 

poverty.’’ Dr. Desmond believes that, ‘‘powerful solutions are within our collective 

reach.’’ I agree with Dr. Desmond and believe that as a nation, we must recognize 

that housing is not just a commodity but a foundation for economic mobility and 

personal growth. 

If confirmed, I pledge to work closely with this Committee, Congress and Secretary Carson to develop viable solutions that align with HUD’s critical mission— 

to ensure that HUD’s programs are responsive to the housing needs of our Nation’s 

most vulnerable citizens. 

I appreciate the Committee’s thoughtful consideration of my nomination to serve 

as the Deputy Secretary of the U.S. Department of Housing and Urban Development. Thank you for your time today. I look forward to your questions. 

79 


60617046.eps

STATEMENT FOR COMPLETION BY PRESIDENTIAL NOMINEES 

Name: 

Patenaude, Pamela Hughes 

Position to whitb aomlnated: Deputy SetretaJy ofUS Depallment of Housing & Urban Development 

Date of aomiaatioo: 

Date ofbirlll: 01/2tVI961 

Marital StatuJ: Married 

Name and ag~ of tbUd~a: 

Caitlin Lisa Patenaude, 28 

Megbaa Cynthia Patenaude, 26 

Jeaaifer EriD Plltii3Ude. 24 

Education: 

Place of binb: Pittsburgb, PA 

Fell aame of spoase: Charles Patenaude 

Instihltioo: Southern New Hampshire University, Mancbester, New Hampshire 

Dates attended: 1994-1996 

Dec~: MJstcr of Science, Cooununity Eccloomic Development 

Date degree colfemd: 1996 

lostihltioo: Saiot Anselm College, Manchester, New Hampshire 

Dal~ attended: 198~1983 

Decree: Bachelor of Science 

Daledegreecoalemd: 1983 

la.stitatioa: Ameritao Uzmmity, WashingtOn, DC 

Dal~ attended: Fall semester,1982 

lnstitulioa: Emmanuel College, Boston, Massachusetts 

Dales alleaded: 1979-1980 

Houors and rnnls: List below all sdlola:ships, fellowships, honol1ry degrees, milil2ry medah, boooraly 

society memberships and any other spetill recognilions for OU!SWiding savi<:e or achievemcot 

Housing Wirc Woman of Influence 2013 

Saint Anselm College Alumni A ward of Merit2006 

Recipient of !he HUD Seerdaly's Award for ExlracrdinaJy Leadmhip 2001 

• Presented by Seeretaly Mel Mattira iD recognition of exl!1oldinary leadership and service in response 

- !0 the World Trade Center and Pentagon tngcdies of September II, 2001 
80 


60617047.eps

Me.btfalps: List below all manbcnbips and of!M:es beld in professiooal, fra1crnal, business, scbolarly, 

civic, cbarilable and ocher organiutioas. 

Orp•lutioa OmctiMid (If uy) 

The Reinvestnent Fund, Board Member 

Homebuilders Institute (HBI), Viee Chainnan 

ULl TeiWilli&er Center for Housing, Advisory Board Member 

National Housing Confer= {NHC), Trustee, Board of Governors 

Licmsed Real Estate Broktr, New Hampshire 

Fannie Mae Affordable Hoasing Advisory Counci~ Manber 

U.S. Deplltmeut ofTreaswy, CDFI Board Manber 

l'!tsident's Advisory Council on Historic Preservation, Board Manber 

U.S. lntm&ency Council on Homelessness, Board Member 

HUD Energy Aetioo Plan Taskfozte, Co-Chair 

American Red Cross, Grtater Manchester, NH Chapter, Board Member 

New Hampshire Community Development Finanee Authority; Treasurer 

Town of Bedford, New HampShire Planning Board, Secretary 

Bedford Economic Development Corporation, FOUD<Iing Manber 

New Hampshire Homebuilders Sales .t Mllbting Council, Clllirman 

Bedford Housing Advis(xy Canmittee, Clllirman 

U.S. 001 Lowell Historic l'!tsemlioo Commissioo, Board Manber 

2014-present 

2014-present 

2014-present 

2014-present 

1990-present 

2010.2012 

2005-2001 

2005-2007 

2005·2001 

2001-2007 

19%-2000 

1994-1997 

1994-1996 

1994-1996 

1991·1993 

1991-1993 

1986-1988 
81 


60617048.eps

Employment record: List below all positions held since college, including the title or description of job, name 

of employment, loc:ation of work, and inclusive dates of employment. · 

1. Ronald Terwilliger Foundation for Housing America's Families, Vienna, Virginia 

PresitknJ 

2014-present 

Bipartisan Policy Centtr (BPC). Washington, DC 

Director, Housing Policy 

. 2011-2014 

Urtan Land Institute, Washington, DC 

Execrdive Vice PresitknJ/Execi/Jive DITtctor, UUTtrWilliger CtnJer for Workforce Housmg 

2007-2011 

United States Department of Housing and Urban Develo me ~ Washington, DC 

AssistanJ Stcretmy Community Plonning and DevelopmenJ 

2005-2007 

Unittd Statts Department of Housing and Urtan Develo men~ Washington, DC 

Anisian/ Deputy Stcretmy, Office of Field Policy and ManagemenJ 

2001-2005 

United States Senate, Manchester, New Hampshile 

Deputy Chief ofStajJIState Director, Office of United Statu Senator Bob Smith . 

1997-2001 

New Hampshire Small Business Development Center, Manchester, New Hampshire 

Director 

1996-1997 

Manor Homes Buildm, Inc., Bedford, New Hampshire 

Vice Presitknt 

1989-1996 

United States Depar1ment of Housing and Urban Deve opmen~ Washington, DC 

White If oust Liaison • Office of the Secretary · 

Special AssislanJ ·Office of Multifamily Housing 

1984-1988 

New Hampshire Housing Finance Authority, Bedford, New Hampshire 

Section 8 Rental Assislance Program Administrator 

1983-1984 
82 


60617049.eps

Go,·era111eat ppu!tace: List any cxpc:tieiKe in 01' direct association with Federal, SUte, 01' local govtlll11lalts, 

including any advisory, consulutive, booomy 01' other part time savite 01' positions. 

US Depar1ment of Housing and Urban Development 

1984-1988, 2001·2007 

US Department of Treasury, CDFI 

2005-2007 

US Interagency Council on Homelessness 

2005-2007 

United States Seuau 

1997·2001 

New Hampshile Community Development Fioanoe Authority 

1994-1997 

Bedford, New Hampshile Planning Board 

1994-1996 

Balford, New Hanipsbire Housing Advisory Committee 

1991·1993 . 

US Depar1ment of Interior I:owell Historic Preservation Commission 

1986-1988 

New Hampshire Housing Finance Authority 

1983·1984 

..· 
83 


60617050.eps

Published Writiogs: List lhe titles, publishels and dates of books, articles, reports orother published materi~s 

you bave written. 

Party platj1N111J, polls, and presidential politics 

. HOIISingWire 

July25,2016 

3 ClrU1mos wishes /or housing joy 

Housing Wire 

December 14,2015 

This is why the Low-Inccme Housing Tax Credit should be priority Ill 

HousingWire · 

November 12,2015 

Could a WJ!uable housing policy help elect the nexJ President? 

Housing Wire 

October 22, 2015 

Another view-Pamela Patenaude: Presidential candidates who ignore housing ignore a big issue 

New Hampshire Union Leader 

September 24, 20 I 5 

Do millions o{Americcns face impending housing peril? 

HousingWire · 

Apri129, 2015 

We 1JI!ed to face the looming rental crisis. right now 

Housing Wire 

June 10,2014 

Here's a solid J-poinl plan for put-back reform 

HousingWire · 

May8,2014 

Where's the key to unlocking the daor to homeownership? 

Housing Wire 

April 25, 2014 
84 


60617051.eps

Politial Afrdiatiols ud activities: List memberships and offices be!d in 111d semces reudtred to ail political 

parties or elcctioo committees during the l&sll 0 years. 

Trump Pell(e 2016 

Volunteer, New Hampshire & Vilginia 

Rich Asbooh for Congress (NH;I), 2016 

Volunteer 

Ted Galsas f<lf Governor (NH). 2016 

Vol111teer 

Kelly Ayo!U fOf U.S. Scoale (NH). 2015,2016 

:Volunteer · 

Lindsey Graham for Presiden~ 20 IS 

Volunteer 

Scott Brown f<lf US Scoale (NH). 2014 

Volunteer 

Ranney R)'lll2008 

New Hampshire Volunteer 

Sununu for US Senate (NH), ·2008 

Volunteer 

Huclcabee for Presideo~ 2007 

New Hampshire Volunteer 

Political Coatriblflioas: Itemize all politiQJ contributiolu ofSSOO or more to any individual, campaign 

organization, pol~ical party, political action committee or similar entity dwing the last eigbt years and ~tify 

specific amounts, dates, and names of recipients. 

4/812011 

1/2812012 

211WI2 

S/2412012 

IM412012 

2117/2015 

31912015 

61112015 

8/1012015 

11/19/201S 

1211512016 

Friends ofKeUy Ayotte, Inc. 

New Hampshire Repllblieao Slate Committee 

New Hamj,shire Repllblican Slate Coolmittee 

Recllim America PAC 

Romney for Presiden~ Inc. 

Rigbt to Rise USA 

MORPAC (Mortgage Bankers PAC) 

Georgians for Isakson 

Huckabee for President 

Lindsey Graham 2016 

MORP AC (Mortgage Bankers PAC) 

6 

$500.00 

$400.00 

$200.00 

$500.00 

$1000.00 

$1,000.00 

$250.00 

$1,000.00 

$1,000.00 

$1,000.00 

$250.00 
85 


60617052.eps

Qualificatioas: State fillly your qll4lifitltions to suve iD lhe position to wbid! )'()II have been named (attach 

sheel). 

Pltast 1ft aJtachtd 

· Future employment relationships: 

I. Indicate whether you will sever all connections with your prtSent employer, business fmn,.association 

or orpnization if you are confirmed by the Senate. 

L I will srver all collllttlioas will the I. Ronald Terwilliger Foaad.atioa for Boasiag 

Am era's Fuailia shuJd I be coefirwled IS the Deputy Semtary or BUD. 

l As far IS can be foreseec, stale whether )'()II hsve any plans after CXII!lj)lttin& covemment service to 

~ employmen~ affiliation or praclice with your previous employer, business firm, associatioo or 

orpnization. 

L I have DO plans to retura to work for the J. Ronald Terwilliger Foandation for BoiSiog 

Am era's Familie~ upoa compl~tioa of government servk:e. 

3. Has anybody made you a commitment to a job after you leave government? 

L No 

4. Do )'()II Qpect to serve lhe filii rerm for whicb you hsYC been appointed? 

L Ye~ 
86 


60617053.eps

Pottollal coo Rids or ialtrest: 

I. Describe any financiaJ ammgemmts «deferred compeusarion agreements or OO!cr c:ootinuing dealings 

wilh business associates, climts or customc:r1 wbo will be affected by policies ..WidJ you v.ill inf!UtnU 

in lhe position to whicb you have betn nominated. · 

a. Nooe · 

2. List any investments, obligations, liabilities, or olher relationships ..Wich might involve potential 

conRicts of interest wi1h the positioo to which you have betn nominated. 

a. Noae 

3. J:Jesc;ribe any business relalioosbip, dealing or financial tnnsaction (olher lban tax paying) v.ticll )'OU 

bave bad during the last 10 years with the Fedml Gol'ellllllellt, Mlelher for yourseit on bebalf of a 

client, or acting as ao agent, that might in any way constitute 91 result in a possible conflict of interest 

wilh the position to which you have betn nominated. 

a. Nooe 

4. List aoy lobbying activity during !he past teo years in whicb you have engaged in for the pwpose of 

directly or indirectly influencing the passage, defeat or modifiwion of aoy legislation at the natiooal 

level of &QVemment or affecting the ministration aod execution of national law or public policy. 

a. NOlle 

S. Explain bow you will reSIOfve any conflict of interest that may be d~loSiecl by your respooses to the 

items abO'it. • a. lla · 

Civil, crimiolll aod iavestigatoa actioos: 

I. Give tbe full delails of aoy civil « aimina) proceeding in which you were a defendant or aoy inquiry « 

in1'C$1iptioo by a Federal, State,« local agency in \\tiel! you were thesubjec:tofthe inquiry or 

investigatioo. 

a. Nont 

2. Give !he full details of any proceeding. inquiry or investigation by any professional association 

including aoy bar association in ..Wich you were the SIUbjeet of !he proceeding. inquiry or investigation. 

a. Nooe 

8 
87 


60617054.eps

Pamela H~&bes Pateoaade 

Qwalifleations for !be position ofDepul)> Sttretuy 

US Dtpartme1t ofHouslo& aod Urban Dt1·dopmeot 

I have alei!Sive professional experic:nc:e in bousin& ADd iiHiepdl knowledge ofHUD's piOIJilllS, budge!, 

policies and operations. In additioo, my exceptiooalleadersbip, twn building, managerial $kills and unique 

ability to bring people klgedter from across the aisle, will CD&ble me to successfully oavigate the many 

clWit21ges and opportuoities I will t21count« should I be eonflltned by the United Slates Stnate to serve as the 

Deputy Secn:wy of the US Department ofHousiog ADd Urban Devdopmeot (HUD). 

My passi,on for housing was ignited while interning at HUD 35 years ago. This exl!aOidina!y experience helped 

shape my~ path for the next three d~ whe~ I have worked in numerous leadership positions 

(mcluding ten years at HUD} in the field of affordable housing and community development 11 the local, state 

and federal levels of coveromeut. the executive and legislalive branches, ADd D0Dpl06t and private sect«s. 

Upon gr.~duation from college, I worked at the New Hampshi~ Housing Finance Auibority as a Section 8 ~tal 

assistance progr.~m administrator whe~ I wltnesscd fii'St-hand the stren&tbs and weaknesses of HUD progr.~ms 

and the impaa these programs have on some our nation's most vulnenble citiz.ens.ln I984, I mumed to 

Washingtoo, OCto serve as a special assisunt in HUD'sofficeofMultifamily Housiogand asHUD's White 

HOIISC liaison. 

After working in the private~ estate sector and completing a gr.lduate de~ in Community Economic 

Developmeo~ I rtjoioed HUD as 1 member of the HUD senior lwlersbip team as the Assistant Deputy 

SecRiary for FIC!d Policy ADd Management wbm I was mponsible for the managm1ent and o1-cnigllt of 

HUD's eigllty field offices lclcattd in ten ~gions. In this role, I successfully facilitated the ~igm~ent of the 

department's field operations and streamlining of delegations of authority. This ~igm~ent shifted critical 

· human capital to HUD's four eott ptOgram areas enabling HUD to better serve itl eoDStilllents. During my · tenwt at HUD,l worted closely with the Deputy Secrelal)' to del-elop HUD's Strategjc: Piau. I initiated and cochaired HUD's tint nl!ionaJ managemeot meeting and the subscqueot natiooal management meeting, wbiclJ · 

focused on the rtSUits achievtd through implementation ofHUD's Strat~c Plan and the President's 

Management Agenda. 

As Assistant Secrewy for Community Planning ADd Dcvelopmeot, I mllllpl $8 billion in community 

developmeot and affordable housing programs including funding for bomelessoess programs, CDBG and 

HOME and managed 1 workforce of 830 employees located in 42 field offices across lhe eounlly.l also 

managed $16.7 billion in supplemental funding for disaster ~lief and ~building efforts in lhe Gulf Coast 

following the desuuctioo of Hurricane Ka!rina. 

Following my government service, I was recruited by the Urbm Land Institute (ULI) to serve as Executive Vice 

President and founding Executive Dilector of the ULI Terwilliger Center for Workfoice Housing. At ULI,I 

facilitated groundbreaking research which exposed the housing affordability crisis in Boston, Washington, DC 

and San Fra.nciseo for middle-income WOlters including tint responders, teachers and nW$C$. During my four 

}an with UU,I worted with private sec1« developers and rqxesenlllives from Slate ADd local governm~ to 

identify and~ best practices in lhe development and ptsemtioo of .tfordable housing. 

As the director of the Bipartisan Policy Center Housing Commission, I led the most comprehensive effort in 

deQdes to examine federal housing policies. Working alongside 21 natiooal housing experts from both sides of 

the aisle, we formulated a oew set of ROiicies to addrm the housing needs of our most vulnerable citiuns. The 

BPC Housing Coml1)ission also designed a bluq>rint for 1 oew housing finance system. 

11 

•· 
88 


60617055.eps

.. , .. ---···---------------

In 2014, I co-founded the J. Rooald Terwilliga- Fourulatioo for Housing Anierica's Families, a national 

IICOprofi~ to illuminate the silent biJIWlg crisis in America and to educate policymakers and p~dential 

candidates about the need to ~brate ~nation's ~~ng policies. 

In addition to my full-time employment, I have setVed on numerous nonprofit boards.sucb as the National 

Housing Conference; The Reinvestment Fund; and_ the Homebuilden Institute (HBI). AI the local level,! served 

as a member ofthtBedford, Ntw Hampshire Planning Board and co-founded the Bedford Housing AdviSOl)' 

Committee. ThroogbOut my Career, I bave m.aimained an utive New Hampshire Real Estate f!roken license, 

wbicb requires m~tO ake cootinuing education coums on critical ~sing issues, such as fair housing. ~c's 

and housing finance. · · 

I am confident my unique skills pmllel those required to successfully manage this. complex federal agency. I 

beliminy lifelong oommiiment tO advancing sound housing policies for America has )llq)ired me for this 

leadership positiOIL It would be an booor to serve in the Trump Adm!nistralioo as the Deputy Secrefa!Y of the 

US Departmeni of Housing and Urban Qevelopment I $1aDd ready to assist seCrewy Ben Caaoo wilh 

implementing bis vision, strategic plan and goals for die US Department of Housing and Ull;lan Development 

Rtspettfullysubmlted by: 

Pamela Hughes Patenaude . 

Aprill9, i011 

12 
89 

1https://cdn.bipartisanpolicy.org/wp-content/uploads/2017/05/BPC-Infrastructure-CaseStudies.pdf 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR BROWN 

FROM KEVIN ALLEN HASSETT 

Q.1. President’s FY2018 Budget Proposal—The President’s pro- posed budget for FY2018 cuts more than $200 billion from current 

infrastructure programs over the next 10 years, while his infrastructure initiative proposes only $200 billion of new investment. 

We don’t know the details of the infrastructure initiative, except 

that the plan will incentivize private sector and foreign investment 

in our infrastructure, proposals that will likely line Wall Street’s 

pockets. 

At the moment, I know that the President proposes cutting funding for programs that help Ohio. And I don’t know that these funds 

will be replaced, because I assume they will go to projects where 

the profit is greatest, particularly projects that can charge new 

tolls and fees on users, rather than where the need for repair is 

greatest. 

The private sector has no interest in repairing or funding most 

of our publicly-owned infrastructure, and failure of an infrastructure package to dedicate significant funding for repairs of public infrastructure would continue the drain on our citizens and our economy that results from the inferior condition of that infrastructure: 

congested roadways, travel delays for transit riders, exposure to 

health and environmental hazards in dilapidated housing facilities, 

etc. 

What is your view on the need for direct Federal investment to 

repair and improve public infrastructure? Won’t cutting funding for 

repairs and asking Ohioans to pay tolls and fees for private 

projects do little to improve our aging public infrastructure such as 

our neglected roads and bridges and aging public transportation 

systems? 

A.1. I was not part of the budget process, and my research has 

mainly focused on tax policy, not transportation policy. But my understanding is that we currently have a system where Federal, 

State, and local governments contribute to maintaining and expanding our infrastructure, and Federal contributions are largely 

funded by the gasoline tax and other taxes. These revenues comprise the Highway Trust Fund, which allocates money by formula 

to the States for their maintenance and capital priorities, which 

are determined by the States themselves. This source has served 

the nation well, and I believe that the budget will continue to support the States’ efforts to maintain and improve their infrastructure. 

In addition, the private sector has already been helpful and could 

continue to play a helpful role in providing new roads and in managing any systems that have been historically underfunded. For example, in the D.C. metropolitan area, the Dulles Greenway toll 

road has been shown 1 to be an effective example of a private company relieving traffic congestion on the public road system, and 

providing benefits to its users without the aid of public money (Bipartisan Policy Center 2016). High Occupancy Toll (HOT) lanes are 

another example where the private sector has provided road servVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00093 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
90 

2http://trrjournalonline.trb.org/doi/abs/10.3141/2495-05 

ices that economic research 2 suggests are highly valued by their 

users (Morgul et al., 2015). Again, unlike traditional projects, these 

lanes do not rely exclusively on public funding. 

If confirmed, I commit to working with this Committee and the 

rest of the Administration to model and understand the economic 

effects of specific infrastructure proposals, including the impact of 

fees and tolls on consumers. 

Q.2. What economic effects would result from a reduction in funding as proposed in the President’s budget for current Federal programs that assist in repairing and improving public infrastructure? 

A.2. I was not part of the budget process, but my understanding 

is that the President’s Budget proposals would not result in a reduction in funding. If confirmed, I look forward to working with the 

rest of the Administration to model the specifics of budget proposals and to present the empirical evidence on the effectiveness of 

these programs and their effects in the most objective and datadriven way possible. 

Q.3. Highway Trust Fund (Including the Mass Transit Account)— 

President Obama in 2015 signed into law a 5-year surface transportation law that authorizes Federal highway and public transportation programs for fiscal years 2016 through 2020. That law provides modest, but important, increases in Federal surface transportation investment. However, President Trump’s FY2018 budget 

proposal outlines a significant cut to highway and public transportation beginning in FY2021. The budget proposal suggests that 

‘‘Highway Trust Fund outlays conform to baseline levels of Highway Trust Fund revenues’’ (Table S–6), which would result in a net 

reduction of investment of more than $95 billion between FY2021 

and FY2027. 

Do you believe that the reduction in Federal investment in highway and public transportation as suggested by the President’s 

budget proposal would have significant negative economic consequences? 

A.3. I was not part of the budget process. My understanding is that 

the budget does not propose to change the basic support of States’ 

ongoing maintenance and capital programs. If confirmed, I look forward to modeling the specifics of the President’s proposed budget 

and presenting the empirical evidence on its effects to the rest of 

the Administration and Congress in the most objective way possible. 

Q.4. How would you generally describe the economic effects that 

would result from a reduction in Federal funding to repair and improve highway and public transportation infrastructure? 

A.4. I have not performed independent analysis of this question, 

but if confirmed, I look forward to presenting the empirical evidence on its effects to the rest of the Administration and Congress 

in the most objective way possible. 

Q.5. Do you believe that the reduction in Federal investment in 

highway and public transportation as suggested by the President’s 

91 

budget proposal would have significant negative effects on employment? 

A.5. My understanding is that the President’s Budget calls for a 

net increase in spending on infrastructure. But if confirmed, I will 

work on developing empirical evidence on the economic impact of 

Federal, State, and local spending on governmental infrastructure. 

Q.6. Do you believe that the reduction in Federal investment in 

highway and public transportation as suggested by the budget proposal would limit or delay efforts to repair and improve aging highway and transit infrastructure? 

A.6. I was not part of the budget process but my understanding is 

that the President’s Budget proposal would result in an increase in 

Federal investment in infrastructure. If confirmed, I look forward 

to modeling the specifics of the President’s proposed budget and 

presenting the empirical evidence on its effects to the rest of the 

Administration and Congress in the most objective way possible. 

Q.7. ‘‘Healthy Returns’’ report—In 2005, you coauthored the report, 

‘‘Healthy Returns: The Economic Impact of Public Investment in 

Surface Transportation’’. Page 4 of the report contains the following 

passage: 

Moreover, research has demonstrated clearly that public 

investments in highways and public transit can raise an 

economy’s underlying growth rate. One leading study 

found that a 1 percentage point increase in a country’s 

total public capital stock raises its growth by about 0.3 

percentage points, and for a lengthy period of time. Other 

research has shown the other side of this: Poor infrastructure constrains growth and increases congestion by channeling and often limiting a nation’s economic development 

to its largest cities. 

Conversely, public spending on highways and public transportation systems that relieve congestion and disperse economic activity can boost a Nation’s growth, especially in 

countries actively engaged in international trade. 

Does the passage above still represent your view on the benefits 

to economic growth from investment in highways and public transit? 

A.7. Yes, although developments in transportation and technology 

have changed rapidly over the past 12 years. For example, there 

is great economic potential for autonomous vehicles to help with 

our infrastructure needs as well as improve the safety of drivers 

and passengers. These are important new technologies and I look 

forward to further research being conducted to test them and to 

help think about regulations governing their use. 

Q.8. Is it your view that the proposed reductions in spending from 

Highway Trust Fund beginning in FY2021, as suggested in the 

President’s FY2018 budget proposal, would reduce economic 

growth, unless those reductions in investment are rejected by Congress or offset by new sources of investment? 

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3http://www.sciencedirect.com/science/article/pii/S0966692310000037 

4https://policyexchange.org.uk/news/finalists-for-wolfson-economics-prize-unveiled/ 

A.8. The economic literature suggests 3 a positive correlation between infrastructure investment and economic growth, but the proposed budget targets wasteful discretionary spending, not authorized spending for the formulas used to give States construction and 

maintenance funds (e.g., Lakshmanan 2011). If the spending is 

wasteful, then it would not have the impact on growth of the average infrastructure project. In addition, autonomous vehicles could 

spur economic growth by reducing commute times, reducing the 

costs of shipping goods and holding inventories, and facilitating the 

exchange of ideas. In research 4 by Edward Glaeser of the Harvard 

Economics Department, Jose Gomez-Ibanez of the Harvard Kennedy School, and Clifford Winston of the Brookings Institution, for 

example, the authors show how autonomous vehicles could spur 

economic growth as well as improve safety (Glaeser et al., 2017). 

While no single study can resolve an issue, these results are suggestive. 

If confirmed, I look forward to modeling the specifics of the President’s proposed budget and presenting the empirical evidence on its 

effects to the rest of the Administration and Congress in the most 

objective way possible. 

Q.9. Page 5 of the report contains the following passage: 

We can estimate the economic value of surface transportation with some precision by simply approaching it like 

any other investment. Most studies show that while the 

yields from investments, public and private, vary from 

very small to very large, investment in public infrastructure as a whole has generally produced higher returns 

than private investment as a whole. One study conducted 

for the Federal Highway Administration (FHWA) found 

that the net return on highway capital averaged 32 percent from 1960 to 1991, ranging from 54 percent in the 

1960s to 16 percent for the 1980s. By comparison, private 

capital over that period produced an average net return of 

17 percent. 

Do you continue to believe that evidence indicates that investment in public infrastructure as a whole has generally produced 

higher returns than private investment as a whole? 

A.9. The problem with private investment is selectivity. The private sector is not free to choose the best projects so the comparison 

could be misleading. It is possible, also, that public infrastructure 

investment returns could decline over time. But if confirmed, I look 

forward to presenting the empirical evidence on this issue in the 

most objective way possible. 

Q.10. Page 7 contains the following passage: 

It is virtually certain that the total annual economic benefits produced by public spending on roads, highways and 

transit substantially exceed $788 billion. 

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Does the passage above and the underlying analysis in the report 

still represent your view on the economic benefits from spending on 

highways and public transit? If not, please explain. 

A.10. There is a multiplier effect. However, I would add that the 

paper you are referring to analyzes the benefits from all existing 

physical infrastructure. What most people have in mind as they 

discuss infrastructure policy is the case of a new marginal investment in infrastructure. And the average rate of return and the 

marginal rate of return can differ quite a bit. 

Q.11. Is it your view that the proposed reductions in spending from 

Highway Trust Fund beginning, as suggested in the President’s 

FY2018 budget proposal, would reduce the present level of economic benefits from spending on highways and public transit, unless those reductions in investment are rejected by Congress or offset by new sources of investment? 

A.11. My understanding is that the President’s Budget calls for a 

net increase in spending on infrastructure. If confirmed, I look forward to modeling the specifics of the President’s proposed budget 

and presenting the empirical evidence on its effects to the rest of 

the Administration and Congress in the most objective way possible. 

Q.12. ‘‘Conserving Energy and Preserving the Environment: The 

Role of Public Transportation’’ report—In 2002, you coauthored the 

report, ‘‘Conserving Energy and Preserving the Environment: The 

Role of Public Transportation’’. That report identified significant 

environmental benefits from public transportation ridership. Page 

2 of the Executive Summary contains the following passage: 

Even at current rates of usage, public transportation produces large environmental benefits. 

For every passenger mile traveled, public transportation 

produces only a fraction of the harmful pollution of private 

vehicles: only 5 percent as much carbon monoxide, less 

than 8 percent as many volatile organic compounds, and 

nearly half as much carbon dioxide and nitrogen oxides. 

Compared to private vehicles, public transportation is reducing annual emissions of the pollutants that create 

smog, volatile organic compounds (VOCs) and nitrogen oxides (NOx), by more than 70,000 tons and 27,000 tons respectively. These reductions equal: 

*nearly 50 percent of all VOCs emitted from the dry cleaning industry, a major source of this pollutant; 

*45 percent of VOCs emitted from the industrial uses of 

coal; 

*50 percent of NOx from the industrial uses of coal; 

*more than 33 percent of the NOx emitted by all domestic 

oil and gas producers or by the metal processing industry. 

The reduced VOC and NOx emissions that result from 

public transportation use save between $130 million and 

$200 million a year in regulatory costs. 

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Public transportation is reducing emissions of carbon monoxide (CO) by nearly 745,000 tons annually. This equals 

nearly 75 percent of the CO emissions by all U.S. chemical 

manufacturers. 

Public transportation is also reducing emissions of carbon 

dioxide (CO2), which contributes to global warming, by 

more than 7.4 million tons a year. 

Do you believe that public transportation ridership continues to 

generate significant environmental benefits, including the categories of benefits identified in the quoted summary? If not, please 

explain and specify which category or categories of benefits are no 

longer generated and why your previous analysis is no longer applicable. 

A.12. As I have noted before, analysis I have conducted does show 

a link between public transit and environmental benefits. I stand 

by that analysis. 

Q.13. ‘‘Capital Investment Grants’’ program (49 U.S.C. §5309)—The 

construction of new fixed-guideway public transportation corridors 

(heavy rail/subway, light rail, bus-rapid transit) and capacity expansion projects on fixed-guideway routes that have reached ridership capacity during peak service hours, allow more Americans to 

utilize public transportation for their daily travels. However, the 

President’s FY2018 budget proposal seeks to eliminate the ‘‘Capital 

Investment Grants’’ program that provides $2.4 billion annually to 

support such projects. 

Do you agree that the elimination of the ‘‘Capital Investment 

Grants’’ program would curtail environmental benefits that would 

be gained from present levels of investment under the program? 

A.13. It is not an area that I have looked at, and I was not part 

of the budget process. If confirmed, I look forward to working with 

you and the rest of the Administration on the specifics of this program and providing objective and empirical-based analysis on its 

economic impact. 

Q.14. Do you agree that the elimination of the ‘‘Capital Investment 

Grants’’ program would curtail economic activity and economic 

growth that would be gained from present levels of investment 

under the program? 

A.14. It is not an area that I have looked at, and I was not part 

of the budget process. If confirmed, I look forward to working with 

you and the rest of the Administration on the specifics of this program and providing objective and empirical-based analysis on its 

economic impact. 

Q.15. Do you agree that the elimination of the ‘‘Capital Investment 

Grants’’ program would reduce employment in construction and 

other industries? 

A.15. It is not an area that I have looked at, and I was not part 

of the budget process. If confirmed, I look forward to working with 

you and the rest of the Administration on the specifics of this program and providing objective and empirical-based analysis on its 

economic impact. 

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2http://www.nber.org/papers/w22252 

3http://press.princeton.edu/titles/10544.html 

4http://books.wwnorton.com/books/The-Second-Machine-Age/ 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SASSE 

FROM KEVIN ALLEN HASSETT 

Q.1. I’d like to explore your views on artificial intelligence and automation. 

What positive and negative impacts, if any, will the increasing 

artificial intelligence and automation of routine work tasks pose to 

the economy over the long-term, particularly for wages and employment. 

A.1. Artificial intelligence research is advancing rapidly, with programs now available that can beat the best Chess, Jeopardy, and 

Go players, and even learn to generate paintings in the styles of 

the great masters. The possibility of rapid and accelerating technological change is clearly very high. As a person who has been writing computer code since the early 1980s, and continues to do so, 

this has been an area I have followed quite closely. 

At least since the industrial revolution, there have always been 

genuine concerns that the disruptions from innovation might harm 

workers and reduce welfare. As with trade, according to recent research, 1 the concentrated harms have sometimes been significant 

(Acemoglu and Restrepo 2017). We are certainly much wealthier as 

a society today because of accumulated innovations, but that does 

not mean that our nation always helped individuals adjust to their 

new world as effectively as it could have. As we look forward to 

driverless cars and other dramatic innovations, there is no question 

that much new economic research is required to fully understand 

the challenges and opportunities. Certainly, innovation continues 

to hold tremendous promise to increase the welfare of our citizens. 

If confirmed, I would make such research into these issues a high 

priority, as it already has been in my own academic life. 

Q.2. How long will it take for these risks to come to fruition? 

A.2. As computers programs get ‘‘smarter’’ and computers get more 

powerful, innovation becomes easier. On the other hand, it may be 

that discoveries get harder and harder to make after the low hanging fruit have been picked. Automation and artificial intelligence 

research is clearly advancing rapidly, but predicting exactly when 

an innovation will arrive is beyond the reach of professional economists. Economic models 2 suggest that the human impact of automation will depend on a number of factors (e.g., Acemoglu and 

Restrepo 2016). These issues are clearly already having a major 

impact on our economy. 

Q.3. What, if any policy solutions should be explored in order to respond to artificial intelligence and automation? 

A.3. There are 2 noted schools of economists who have widely differing views on this question. Robert Gordon at Northwestern does 

not believe 3 the U.S. has another great technological revolution to 

come, whereas his colleague Joel Mokyr and Erik Brynjolfsson at 

MIT believe 4 that technology is racing ahead and that it has many 

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positive impacts to come (Brynjolfsson and McAfee 2014; Gordon 

2016; Mokyr 2013). 

Over time, as we develop a better understanding of how these 

issues affect peoples’ lives, we will certainly identify policy challenges. While it is difficult at this time to conceive of a complete 

list, a major challenge will certainly be that an economy that is 

changing rapidly requires a workforce that has ready access to effective education and retraining, and I look forward to investigating these issues more thoroughly, should I be confirmed. 

Q.4. I’d like to explore your views on deficits and the debt. 

During Federal Reserve Chair Yellen’s February 14, 2017, Senate Banking Testimony, Chair Yellen told Senator Corker that ‘‘fiscal sustainability has been a long-standing problem, and . . . the 

U.S. fiscal course, as our population ages and health care costs increase, is already not sustainable.’’ Do you agree? 

A.4. I agree with Chair Yellen’s statement that fiscal sustainability 

is a long-standing problem. In a 2012 testimony on the fiscal cliff 

before the Joint Economic Committee, I noted that evidence of the 

long-term effects of high Government debt-to-GDP ratios has been 

borne out by the literature. As I have noted previously, in a widely 

cited paper 5 reviewing 44 countries over about 200 years, Reinhart 

and Rogoff document a strong relationship between high debt levels 

and slow GDP growth (Reinhart and Rogoff 2010). They find that 

this relationship is especially strong when countries exceed a gross 

debt-to-GDP level of 90 percent. This relationship holds true when 

examining all of the countries in their sample and when they restrict their analysis to developed economies. Although the Reinhart 

and Rogoff analysis has been criticized for implying only correlation and not controlling for other factors that may impede growth 

and lead to high levels of debt, separate research by Manmohan S. 

Kumar and Jeajoon Woo concurs that higher levels of Government 

debt lead to lower levels of output (Woo and Kumar 2015). They 

estimate that a 10 percentage point increase in debt as a percentage of GDP is associated with an annual decrease in 0.2 percentage 

points of GDP growth. They also find evidence that the negative 

impact on economic growth is even stronger with higher levels of 

debt. These results conform with the predictions of economic theory, but firm conclusions would require a more thorough review of 

the evidence. If confirmed, I look forward to helping policymakers 

address the U.S.’ fiscal course. 

Q.5. In correspondence with me last year, Chair Yellen told me 

that ‘‘fiscal policymakers should soon put in place a credible plan 

for reducing deficits to sustainable levels over time.’’ Do you agree? 

A.5. I agree that fiscal policymakers should work toward reducing 

deficits to sustainable levels. As I have previously noted in a 2009 

working paper 6 coauthored with Desmond Lachman Aparna 

Mathur, failure to address the deficit exposes the U.S. Government 

to significant risk that could, if history is a guide, emerge as a disruptive factor to financial markets. If confirmed, it will be the role 

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of the Council of Economic Advisers to objectively evaluate the 

risks associated with U.S. debt levels, and provide policy advice. 

Q.6. What level of deficits and debt are sustainable over the long 

run? 

A.6. In the same paper 7 coauthored with Desmond Lachman and 

Aparna Mathur, I write that if spending grew as projected in 2009 

and revenues did not rise at a matching rate, annual deficits would 

climb and Federal debt would grow significantly. As debt increases, 

a higher and higher share of national output will be devoted to interest payments, and the level of taxation needed to sustain Government becomes historically unprecedented. Large budget deficits 

would reduce national saving, lead to more borrowing from abroad 

and also lower domestic investment. Thus, while there is no magic 

number for deficits or debt, there is ample cause for concern. 

Q.7. What metrics would you consult in order evaluate the impact 

of the U.S.’s debt and deficit levels? What levels must these metrics 

reach in order for the U.S. debt and deficit to be sustainable? 

A.7. There are several measures of the U.S. debt and deficit levels 

including gross debt, net debt, and external debt. Each measure 

has strengths and weaknesses, and should be used jointly to gather 

a full picture of the current fiscal situation. The most commonly accepted predictor of a financial crisis, for example, has been the external debt-to-GDP ratio or how much of our debt is held by foreign 

creditors as a percentage of GDP. If foreign creditors lose confidence in our fiscal stability, then it is likely that U.S. investors 

will lose confidence as well. Once again, there are no magic numbers when evaluating the sustainability of the U.S. debt and deficit, and if confirmed, I look forward to evaluating all metrics when 

evaluating sustainable levels of the U.S.’ debt and deficit. 

Q.8. How would you evaluate the economic impact of an unfunded $1 trillion infrastructure spending package? 

A.8. It is difficult to evaluate the economic impact of any package 

without making specific assumptions. There are several considerations when conducting such an evaluation, including the economic 

gains from specific investments and the willingness to make cuts 

to other parts of the budget that are less productive. If confirmed, 

I look forward to working with the rest of the Administration and 

Congress to evaluate the impact of any proposed infrastructure 

package with respect to our broader fiscal trajectory. 

Q.9. According to research from the Economic Innovation Group, 

the new startup rate is near record lows, dropping by ‘‘half since 

the late 1970s.’’ The total number of firms in the U.S. dropped by 

around 182,000 from 2007–2014. 

Are you concerned about this decline in new startups and broader economic consolidation? 

A.9. The decline in new startups is an area of concern in which I 

have a particular interest. In their report on economic growth and 

recovery, the Economic Innovation Group (EIG) notes that the 

2000s recovery saw a 5.6 percent increase in business establishments, while the 2010s recovery only saw a 2.3 percent increase. 

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otherlaginglamericaldominancelolderlfirmslhathawayllitan.pdf 

The EIG attributes much of this decrease in business creation to 

a lack of startups rather than closures, and research 8 by Robert 

Litan and Ian Hathaway has showed that for the first time in over 

30 years, the U.S. business dynamism declined in all 50 States and 

in all but a handful of the more than 360 metros (Litan and Hathaway 2014). This decrease in startups is attributable to a lower rate 

of business creation among millennials. Given that millennials will 

soon be the largest age segment in the U.S., there is legitimate concern regarding the rate of business creation. 

Q.10. What, if any, policy solutions should be explored in order to 

respond to these challenges? 

A.10. If confirmed, I look forward to studying possible policy solutions to the declining rate of business creation. An important consideration is the role of policy uncertainty. Uncertainty can result 

in lower levels of investment. If an investment involves sunk costs, 

it may be optimal to wait for a potential policy change, even if that 

policy change is not guaranteed. With startups, many of the investment costs are sunk, for example, the costs of complying with complex regulations. Thus, by reducing policy uncertainty and encouraging tax and regulation policies that address the high fixed costs 

of starting a business, the challenges of business creation could be 

alleviated. In addition, it is worth noting that older, entrenched 

firms now are a larger share of all firms than at any time in recent 

history, which helps them have and keep their competitive advantage over newer, entrepreneurial firms—which, according to Litan 

and Hathaway (2014), 9 could be the cause of lower productivity, 

and less innovation and job creation. As CEA chair, I would provide objective analysis of these potential challenges to determine 

the optimal policy solutions. 

Q.11. I’d like to discuss trade policy. 

How would a 45 percent tariff on Chinese goods impact the U.S. 

economy? 

How would a 20 percent tariff on Mexican goods impact the U.S. 

economy? 

A.11. Free trade has been both a source of prosperity and a challenge for individual industries and individuals over time. There is 

a general consensus among economists that the movement toward 

more open and free capitalistic societies has been a major factor in 

the dramatic reduction of global poverty we have seen over the past 

forty years. That consensus is driven in part by empirical observations of the benefits to removing trade barriers such as high tariffs. 

It is difficult to fully evaluate the two hypothetical tariff scenarios you mention, as there are so many other factors that one 

would have to nail down before one could adequately model the impact. Why were the tariffs imposed in the first place, for example? 

Trade models often rely on game theory in order to model the response of the world community to policies such as higher tariffs, 

and that response would depend on the cause of our own policy. A 

full evaluation would require estimating the likely response of 

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rest&#authorsTabList 

other countries. One would also have to model currency adjustment, and the extent to which the demand for products from these 

countries is responsive to price changes, not to mention the actions 

of the Federal Reserve. 

To be sure, though, economists would tend to agree that higher 

tariffs would take us off the path that has contributed to the 

spread of prosperity around the world. If confirmed, I would, if requested to, work with the staff to provide detailed and objective 

analysis that draws on the lessons of the academic literature of the 

likely implications of such trade policies. 

Q.12. How would a trade war with China impact the U.S. economy? 

How would a trade war with Mexico impact the U.S. economy? 

A.12. It is widely accepted by economists that the Smoot–Hawley 

Act of 1930 induced a trade war that significantly worsened the 

Great Depression. I am aware of no economic model that would 

produce the result that a trade war would be a good thing. If someone did present me with such a model, I would expect to be able 

to quickly identify flaws in its design. 

Q.13. How would NAFTA’s dissolution impact the U.S. economy? 

A.13. The academic literature on NAFTA suggest that it, like most 

expansion of free trade, produced diffuse benefits and concentrated 

harms. One recent estimate 10 of the concentrated harm suggested 

that, in localities exposed to NAFTA, the wages even of workers 

whose jobs do not compete with imports (e.g., local restaurant 

workers) suffered as a result of the trade expansion (Hakobyan and 

McLaren 2016). The diffuse benefit is, by its very nature, difficult 

to measure, but was surely positive. 

NAFTA dissolution would, again, be difficult to model, as one 

would have to work out what happens next. If a trade war ensued, 

the previous answer would apply. 

Q.14. Would dissolving NAFTA be preferable to maintaining the 

current version of NAFTA? 

A.14. The original NAFTA agreement was signed by the parties all 

the way back in 1992. The economies of the United States, Canada, 

and Mexico have changed dramatically since then, and a modernization of this agreement could hold the potential to provide significant economic benefits for all involved. For example, the digital 

economy barely existed back then. 

It is difficult to model precisely what would happen should 

NAFTA be dissolved, as there are so many factors that would have 

a major impact on the modeling. If the countries decided to act as 

if it were in place after dissolution, for example, then there would 

be little effect. If a trade war ensued that spread around the globe, 

then there would be a negative effect. 

Q.15. Mexico has reportedly been exploring ways to reduce corn 

imports from the United States, including by opening up trade with 

Brazil or Argentina. Is there a risk that restricting trade will drive 

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11https://www.ers.usda.gov/topics/international-markets-trade/us-agricultural-trade/outlook-for-us-agricultural-trade/ 12https://www.oecd.org/eco/The-Walking-Dead-Zombie-Firms-and-Productivity-Performancein-OECD-Countries.pdf 13https://www.brookings.edu/wp-content/uploads/2016/03/ 

ByrneEtAllProductivityMeasurementlConferenceDraft.pdf 

other countries to explore other import markets? If so, how significant is that risk? 

A.15. The USDA outlook 11 for U.S. agricultural trade projects exports of agricultural products of $136 billion in 2017, with imports 

expected to be $114.5 billion. This trade surplus is the result of the 

hard work and tremendous productivity of America’s farmers, and 

could be at risk should trade barriers begin to rise around the 

world. The potential response of this surplus to changes in trade 

policy is something I would be committed to model carefully, should 

I be confirmed and requested to do so. 

Q.16. Many economists point to weak productivity growth as one 

of the major contributors to slower economic growth overall. 

Do you agree with this assessment? 

A.16. I agree that weak productivity growth is a major contributing 

factor to slower overall economic growth. A recent OECD study 

that looked at the variation in productivity across firms finds that 

while average productivity growth has been declining, the inequality of productivity has been skyrocketing (McGowan et al., 2017). 12

It could be that the most productive firms are improving as rapidly 

as ever, innovating at a rate consistent with the theory that innovation should be accelerating. But these technical changes are not 

spreading down the food chain as they did in the past. We can see 

the gains from the high-tech sector, but mostly in the most productive firms. The problem is that everyone else is doing so poorly that 

the aggregate number appears as a disappointment. 

Q.17. Do you believe productivity measurements accurately account 

for new technology? 

A.17. Measuring productivity is a challenge, especially if we are 

not estimating our inputs properly. Increasing use of the Internet, 

email, and texting at work may mean that hours are being overstated and that productivity is being understated. Mismeasurement 

can also come in the form of digital innovation where digital innovation replaces products with tangible values. The other type of 

mismeasurement to consider is that it is possible that the things 

we purchase are not added into GDP correctly because quality 

changes are not incorporated into their deflators. 

However, Federal Reserve economist David Byrne, Federal Reserve Bank of San Francisco’s John Fernald, and the IMF’s Marshall Reinsdorf 13 conclude that it is very unlikely that 

mismeasurement explains the productivity slowdown. They show 

that mismeasurement would have to increase in importance in 

order to create a productivity growth slowdown, but it has likely 

declined in importance because the U.S. imports a much larger 

share of high tech goods than it did in the past. Second, when one 

looks at industry details, the industries that account for the slowing are not the industries that arguably are mismeasured. This is, 

of course, not the final word on the question. If confirmed, I look 

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forward to exploring ways to better estimate the real impacts of 

new technology on productivity growth, and how to increase productivity. 

Q.18. How does current policy impede productivity growth? 

A.18. There are many reasons why current policy may not encourage productivity growth: taxation, regulation, and interest rates, to 

name a few. For example, economist Fadi Hassan and Gianmarco 

Ottaviano find 14 that the reduction in multifactor productivity is 

partly caused by low interest rates and bank forbearance. If unproductive firms can slog along, average productivity can slow. In addition, too many regulations can limit the introduction of new 

firms, reducing the inflow of new and productive firms inhabited by 

unimpressive incumbents. Lastly, too high tax rates discourage 

capital formation for all types of firms, giving workers few new 

tools to work with. If confirmed, I look forward to studying productivity growth in greater depth to help advise policymakers on how 

to tackle this issue. 

Q.19. How can the United States improve productivity? 

A.19. As I have noted previously, one factor that could help productivity would be to get tax policy right regarding capital spending. 

Labor productivity growth averaged 3.2 percentage points per year 

between 1995 and 2004, but has only averaged 1.3 percentage 

points since then. In some collections of boom years, capital spending added 1.2 percentage points per year to productivity growth but 

in recent years has dropped to an average of 0.5 percentage points. 

We could potentially add three-fourths of a percentage point to 

baseline growth if we could get capital spending back to what it 

has been in past boom years. Capital spending is highly responsive 

to tax policy, research 15 (e.g., Djankov et al., 2010) has shown. The 

U.S. has recently increased tax rates on pass-through investments 

and let the corporate tax rate become the highest in the developed 

world. As the chair of the Council of Economic Advisers, I look forward to providing objective advice on policy to improve productivity, and I would, of course, explore arguments against this analysis, and other possible policies. 

Q.20. According to research compiled by AEI scholar, Nicholas 

Eberstadt, in his book ‘‘Men Without Work’’, the proportion of 

prime-age men out of the labor force more than tripled in the past 

50 years, from only 3.4 percent in 1965 to 11.8 percent in 2015. In 

addition, eight times as many prime-age men were economically inactive and not pursuing education in 2014 than in 1965. 

What priority should we give this measurement in our broader 

economic calculus? 

A.20. The decline in work is a significant issue facing the country. 

It is something that I have studied and written extensively about, 

including testifying before the Joint Economic Committee. Increasing labor force participation is a vital component of increasing GDP 

growth. A 2013 Congressional Budget Office report 16 stated that 

while potential hours contributed 1.7 percentage points to GDP 

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17http://www.aei.org/publication/the-tax-treatment-of-the-family/ 18https://www.aeaweb.org/articles?id=10.1257/jel.49.4.961 19http://www.tandfonline.com/doi/full/10.1080/00036846.2014.995367 1http://www.hamiltonproject.org/assets/legacy/files/downloadslandllinks/policiesladdresslpovertylinlamericalfulllbook.pdf 2https://www.aeaweb.org/articles?id=10.1257/app.20150295 

3http://www.jstor.org/stable/10.1086/588493 

growth each year in the 1970s, from 2002 to 2012 hours worked 

only contributed 0.3 percentage points. From the supply side, labor 

force growth could provide a significant boost to GDP growth. 

Q.21. To what do you attribute this decline in labor force participation? 

A.21. There are several causes of the decline in labor force participation. The downturn certainly discouraged many, many people. A 

contributing factor is also the structure of the tax code. Corry and 

Slavov (2013) write 17 that the treatment of married couples creates 

disincentives for secondary earners to work, as households face a 

higher average tax rate when the secondary earner begins working. 

A 2011 review 18 of the literature by Michael Keane finds that 

women are particularly responsive to marginal tax rates, resulting 

in large effects on their decision to work. An efficient tax code 

would minimize the disincentives to work and may increase labor 

force participation. If confirmed, I look forward to following the development of this literature closely and helping to advise policymakers about how to tackle this issue. 

Q.22. What policies do you believe would be effective in improving 

labor force participation among prime-age men? 

A.22. While there is evidence that labor force participation would 

rise with wage growth, achieving this wage growth may well require policy changes to corporate taxation. In work 19 coauthored 

with Aparna Mathur, I found that the burden of corporate taxation 

is largely borne by labor due to the relative mobility of capital 

(Hassett and Mathur 2015). There have been many developments 

in the literature since. If confirmed, I look forward to considering 

this topic further. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR REED 

FROM KEVIN ALLEN HASSETT 

Q.1. In your opinion, how does work sharing soften the blow to our 

overall economy when a regular economic downturn occurs? 

A.1. I will use this opportunity to dig deeper into this topic. When 

faced with a downturn, a company could reduce 1 the hours of 100 

employees by 20 percent instead of firing 20 full-time workers. 

The impact of job loss is also not limited to the person unemployed, with recent research showing that job termination for a 

parent is related to lower education attainment and lifetime earnings for his or her children (Hilger 2016; 2 Oreopoulus, Page, and 

Stevens 2008 3). Keeping workers employed, albeit with reduced 

hours, can limit the risks associated with long-term unemployment. 

Q.2. Do you believe that, if more States had work sharing programs in place prior to the Great Recession, we would have seen 

fewer job losses than what the nation suffered during that time? 

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A.2. There is evidence that work-sharing programs limit the effects 

of long-term unemployment, like that we saw during the Great Recession. It is the role of the Council of Economic Advisers to objectively and critically evaluate the applicability of these work-sharing 

programs to the U.S. Rhode Island offers an example of a worksharing program with use levels similar to those of developed European countries. As I note in my 2014 report 4 on work sharing with 

Dr. Michael Strain, Rhode Island’s labor department estimated 

that the program kept the State unemployment rate down and 

saved about 9,500 jobs between 2009 and 2010 (Hassett and Strain 

2014). 

RESPONSES TO WRITTEN QUESTIONS OF 

SENATOR MENENDEZ FROM KEVIN ALLEN HASSETT 

Q.1. In a 2010 article, you urged Republicans to support legal immigration and to rally around former President Reagan’s view that 

the U.S. is a land of opportunity where ‘‘the doors were open to 

anyone with the will and the heart to get here.’’ In 2013, you called 

for the U.S. to double its total immigration to spur economic 

growth. During your nomination hearing, you said that economic 

research demonstrates that ‘‘immigrants in this country have been 

an important source of growth’’ and that ‘‘if there were more workers, we’d have more outputs.’’ If confirmed, will you commit to presenting this evidence to the President in discussions regarding proposed immigration policies? 

A.1. Yes. On this and all other topics, I commit to always presenting the President with the best possible objective read of the 

economic evidence should I have the honor of being confirmed. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR WARNER 

FROM KEVIN ALLEN HASSETT 

Q.1. During your testimony, you said that the Administration’s 

goal of 3 percent economic growth is achievable, but both history 

and major forecasters tell us that that’s an unreasonable assumption. Experts have estimated that policy changes like deficit reduction and tax and regulatory reform are likely to improve the 

growth rate by only a few decimal points, not percentage points. 

Why do you believe that we will be able to completely reverse recent trends in productivity, capital growth, and labor force participation to achieve sustained economic growth of 3 percent? 

Do you agree that higher debt from reducing revenues would 

have a negative impact on our economy that could offset or even 

wipe out any economic boost from tax reform? 

A.1. A variety of research documents the relationship between 

higher output and lower taxes. A path-breaking study 1 by David 

Romer and Christine Romer (2010)—herself a former CEA chair— 

finds that tax increases tend to lower output. Others have pursued 

a similar strategy with data from other countries and found similar 

104 

2https://www.aeaweb.org/articles?id=10.1257/aer.103.4.1507 

3https://academic.oup.com/oep/article-abstract/66/2/397/2362257/The-macroeconomic-effects-of-legislated-tax 4https://www.aeaweb.org/articles?id=10.1257/jel.50.2.464 

results. This includes the Cloyne (2013) analysis 2 of the U.K. fiscal 

experience and the Hayo and Uhl (2014) analysis 3 of the German 

fiscal experience. The scale of these effects is uncertain, but the 

evidence is promising. 

Meanwhile, the labor force participation rate, as described in 

Keane and Rogerson (2012) could possibly be responsive to policy 

parameters like tax rates, which can determine how much one profits from one’s labor. In a forthcoming publication in a book published by Oxford University, I note that the model in Keane and 

Rogerson (2012) seems 4 to be able to explain the divergence in 

trends in labor force participation between different age cohorts 

that seems to have occurred in recent years. 

The relationships between output, interest rates, and spending 

can be extraordinarily complex. It is true that higher interest rates 

could serve as a headwind to growth, but given the complexity of 

the macroeconomic forces involved, it is difficult to comment on the 

macroeconomic interactions at the heart of fiscal policy in the abstract. One would have to dig more deeply into the details. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR HEITKAMP 

FROM KEVIN ALLEN HASSETT 

Q.1. Objectivity: As you’re well aware, your primary job in this Administration will be to provide objective economic advice to the 

President on a range of issues. Many times facts and reason don’t 

match up with ideology and rhetoric. So I’d like to get your commitment today that you’re willing to put fact and reason above ideology and be a strong advocate in this White House for an objective 

approach to policymaking? 

A.1. The Council of Economic Advisers (CEA) was created to provide the President with objective economic advice and to assist policymakers in solving the issues we face. The CEA has done this 

throughout its 70-year history under both Democratic and Republican administrations. If confirmed, I pledge to you and to the rest 

of the Committee to do my utmost to protect the integrity of the 

CEA and provide unbiased, scientific analysis. I look forward to 

working with the Administration and Congress in this pursuit. 

Q.2. Future of Work: As a conservative economist, you’ve made 

some surprising comments on the need for our Government to play 

a more active role in providing direct job opportunities for the long 

term unemployed. As I look into the next decade, one of my biggest 

concerns is that we’re going to have a whole lot of hard working 

men and women displaced by automation at a greater pace than 

we’ve ever experienced in this country. 

The Bank of England projects that 47 percent of U.S. jobs could 

be replaced by technology over the next 15 years (a PWC study 

projects 38 percent of jobs in the U.S. will be at high risk in 15 

years). 

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1https://www.bls.gov/spotlight/2015/long-term-unemployment/pdf/long-term-unemployment.pdf 2https://www.aei.org/wp-content/uploads/2014/04/-hassett-strain-workshairng-and-longterm-unemploymentl173834868095.pdf 3http://www.urban.org/research/publication/financial-consequences-long-term-unemployment-during-great-recession-and-recovery 4https://www.jstor.org/stable/2117574 

5http://www.pewsocialtrends.org/files/2010/11/760-recession.pdf 

6http://rricketts.ba.ttu.edu/sullivanlvonwachterljob%20displacement% 

20and%20mortalitylqje.pdf 7https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3423193/ 

8http://www.sciencedirect.com/science/article/pii/S0272775710001202 

9http://www.journals.uchicago.edu/doi/abs/10.1086/381258 

10http://www.urban.org/sites/default/files/publication/23921/412887-Consequences-ofLong-Term-Unemployment.Pdf 

Former Treasury Secretary Larry Summers recently commented 

that a third of men between the ages of 25 and 54 may not be 

working by the end of this half-century. 

A.2. Long-term unemployment is one of the biggest issues we face 

as a county. A large and growing literature has explored the impact of unemployment for extended periods—generally defined as 6 

months 1 or longer—on the workers affected. A key finding 2 is that 

the relationship between unemployment and employability is nonlinear, with harm from unemployment rising over time. 

Long-term unemployment has obvious financial impacts. Johnson 

and Feng (2013) detail 3 the financial losses to workers who experienced long-term unemployment between 2008 and the end of 2011, 

finding that for those out of work for 6 months, half experienced 

declines in per-capita family income of 40 percent or more. These 

financial hardships were felt especially by African Americans and 

Hispanics, along with workers without a high school education and 

unmarried workers. Jacobson, Lalonde, and Sullivan (1993) find 4

that even when previously unemployed workers find jobs, their 

earnings are persistently lower than before their unemployment 

spells. 

The empirical evidence also suggests there are other, less obvious, effects on individual and family well being. A 2010 Pew report 5 found that long-term unemployed workers were more likely 

to report a loss of self-respect, and that the 2008 recession had an 

impact on their career goals or brought ‘‘major changes’’ to their 

lives. Sullivan and von Wachter (2009) find 6 a 50 to 100 percent 

increase in death rates for older male workers in the years immediately following job loss if the worker has been consistently unemployed. Long-term unemployment is also correlated with increased 

suicide. Classen and Dunn (2012) find 7 that for each proportional 

increase in the unemployment rate of 10 percent increases the suicide rate for males by 1.5 percent. The key link is the duration of 

unemployment, which increases the probability of suicide. 

Stevens and Schaller (2009) found 8 that there are also significant negative effects from unemployment on overall family wellbeing. Parental unemployment can increase the probability that a 

child will have to repeat a grade in school, especially when parents 

have lower educational attainments. Charles and Melvin (2004) 

find 9 that unemployment by a spouse can increase the probability 

of divorce. Nichols, Mitchell, and Linder (2013) found 10 that communities with a higher share of long-term unemployed workers 

tended to have higher rates of crime and violence. 

106 

11http://www.hamiltonproject.org/assets/legacy/files/downloadslandllinks/policiesladdresslpovertylinlamericalfulllbook.pdf 12http://www.oecd.org/employment/emp/48806664.pdf 13http://annualreviews.org/doi/abs/10.1146/annurev-economics-080315-015041 

Given all of this evidence, it is clear to me that Government policies need to take the concentrated harms more seriously. 

There is a literature on the effectiveness of work sharing in preventing long-term unemployment. Abraham and Houseman 

(2014) 11 note that work sharing encourages employers to reduce 

hours rather than terminate employment during periods of depressed demand. The literature suggests that even at reduced 

hours, keeping employees in work can prevent the effects of longterm unemployment. Work sharing also benefits firms by retaining 

valuable employees and limiting the costs of recruiting, hiring, and 

training new employees in the future. There are also several examples of work sharing programs which showed positive results during the 2008 recession. A 2010 OECD study found 12 that without 

work sharing, Finland, Germany, Italy, and Japan would have experienced about a three-quarters of a percentage point greater decline in permanent employment. In the U.S., Rhode Island offers 

a model case of a work-sharing program with use levels similar to 

those of developed European countries. Using back-of-the-envelope 

calculations, if confirmed, I look forward to exploring further the 

role that work-sharing programs can play in preventing long-term 

unemployment. 

Q.3. You’ve made it clear that you understand the high toll joblessness takes on the health and welfare of a society and have argued 

in favor of German-style work-sharing programs, in which unemployment is averted by encouraging companies to reduce workers’ 

hours and subsidizing the workers’ lost wages. Would you recommend these types of German-style work sharing programs to the 

President in order to help workers displaced by automation? What 

other options should Congress be exploring to help displaced men 

and women re-enter the job market? 

A.3. I addressed this in my previous answer. 

Q.4. Trade and Immigration: On the issue of trade and immigration, your academic work diverges significantly from the rhetoric 

coming from the Administration. You’ve made it clear in your 

writings that open trade and sensible immigration policies benefit 

the U.S. economy. Indeed, 95 percent of the world’s consumers live 

outside our country. What is your argument to the President on the 

issue of trade policy with countries like Mexico? 

A.4. Economic researchers have been studying the cost and benefits 

of free trade at least dating back to the birth of this country, when 

Adam Smith was debating the mercantilists about the relationship 

between trade and wealth. The economic literature is clear that 

trade can be an important source of welfare improvements for the 

world’s citizens. The large benefits from trade are often very diffuse, and those affected negatively can be a quite concentrated 

group. These two factors present us all with significant challenges. 

There is a more modern empirical literature 13 that explores the 

concentrated harm to specific industries and geographic regions 

that can ensue when plants are closed because of pressure from 

107 

14https://www.nap.edu/catalog/23550/the-economic-and-fiscal-consequences-of-immigration 1https://www.youtube.com/watch?v=CkxlPpDtbDo 

foreign competition (e.g., Autor et al., 2016). Much of my personal 

attention to geographic inequality has been focused on helping to 

give policymakers the data and analysis they need to understand 

concentrated harms better, so that they can craft policies to help 

avoid or alleviate them. 

There is also a large and vibrant literature 14 on immigration and 

its economic impacts (e.g., National Academies of Sciences 2016). If 

confirmed, I would look forward to providing the President with objective analysis that draws from my own past work and the broader 

economic literature on trade. 

RESPONSES TO WRITTEN QUESTIONS OF 

SENATOR CORTEZ MASTO FROM KEVIN ALLEN HASSETT 

Q.1. During my questioning period, I asked you if you still believed 

that the Dodd–Frank Wall Street Reform and Consumer Protection 

Act of 2010 was ‘‘the worst piece of legislation that [you’ve] seen 

in [your] entire lifetime,’’ and whether the law ‘‘needs to be repealed as soon as possible.’’ You responded that you did not recall 

making those comments. Pasted below is a transcript of some of 

your comments from a debate sponsored by Bloomberg 1 on August 

11, 2011: 

My view [is] that Dodd–Frank is the worst piece of legislation that I’ve seen in my entire lifetime. The impact of 

Dodd-Frank is conceivably going to be horrifying, and that 

it has to be repealed as soon as possible. Dodd–Frank is 

lame-brained, horrifying legislation ... 

Please describe whether you continue to agree with this statement from 2011. 

What is your current view of the Dodd–Frank Act? 

A.1. Thank you for clarifying this, as I did not recall the interview 

during the hearing and I would like the opportunity to set the 

record straight. I regret my tone and do not now agree with what 

I said. There are certainly many, many pieces of legislation in 

American history that even the harshest critic of recent financial 

reforms would have to concede were worse than the Dodd–Frank 

Act. 

In the Bloomberg appearance you mention, I expressed disapprobation towards Dodd–Frank on the grounds that the structure of its costs put a larger burden on smaller, rather than larger, 

financial institutions. While there are aspects, like this, of the 

Dodd–Frank Act that I believe are less than optimal because our 

Nation needs small banks as well as larger ones, I would look forward, if confirmed, to working with the President and Members of 

this Committee to support efforts to seek sensible reforms. 

I would like to add that while Congressman Frank was Chairman of the House Financial Services Committee, we had collegial 

relations. I would ask that you review my testimony of February 

23, 2010, before that committee, and the hearing transcript, to see 

108 

1https://blogs.wsj.com/moneybeat/2016/11/21/goldman-sees-30-buyback-surge-in-2017/ 

evidence of my ability to focus on economic substance, an ability 

that was poorly lacking in the transcript you cited. 

Financial regulation is a very serious and difficult business, and 

financial markets evolve naturally over time, often in unexpected 

directions. It is essential that policymakers be nimble, collegial, 

and willing to consider modifications of existing law. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SCHATZ 

FROM KEVIN ALLEN HASSETT 

Q.1. For at least the last 10 years, you have advocated for implementing a carbon tax to address greenhouse gas emissions, and 

using the revenues to reduce distortionary taxes elsewhere in the 

code, such as the corporate income tax or the payroll tax. As the 

Trump administration and Republicans Congress attempt a broad 

overhaul of the tax code, in your capacity as the President’s chief 

economic adviser, will you commit to advocating on behalf of a carbon tax that both (1) reduces emissions in line with the commitment made by the U.S. in Copenhagen in 2009 (83 percent reductions below 2005 levels by 2050; see http://unfccc.int/files/meetings/copl15/copenhagenlaccord/application/pdf/ 

unitedstatescphaccordlapp.1.pdf), and (2) does not increase the 

overall regressivity of the tax code? 

A.1. The Employment Act of 1946 created the Council of Economic 

Advisers as a means to ensure that the President has information 

that is both ‘‘timely’’ and ‘‘authoritative’’ with respect to current 

and future economic conditions. I view the core commitment of the 

Council of Economic Advisers to be the presentation of the best objective evidence. As you mentioned, I have been an active participant in the economics literature in this space, including the study 

of carbon taxation, its economic effects, and distributional consequences. I stand by that work, and if confirmed, I would also be 

sure that the other members of the team would know not to weigh 

my academic work more heavily simply because I wrote it. The 

CEA professional staff should always produce unbiased and objective work that weighs all of the relevant scientific evidence. 

Q.2. In your writings, you have argued that cutting corporate taxes 

would lead to wage increases because companies would have more 

capital to invest in their workers. 

However, several market analyses over the past few years have 

shown a clear trend. Ccompanies have funneled extra capital to 

shareholders through stock buybacks and dividend payments—not 

to research and development, wages, or worker training. 

Since the end of the recession. U.S. nonfinancial companies have 

amassed $1.77 trillion in cash holdings. Yet, wages and productivity have stagnated. 

Just after the election, Goldman Sachs predicted that stock 

buybacks would climb 30 percent to $780 billion. Goldman thinks 

$150 billion, or about 20 percent, will come from repatriation of 

overseas cash. According to the Wall Street Journal, 1 if Goldman 

is right, ‘‘buybacks will make up the largest use of cash among 

109 

2http://www.sciencedirect.com/science/article/pii/S0047272701001724 

S&P 500 companies for only the second time in the last two decades.’’ 

If cutting corporate taxes would give U.S. companies the cash 

they need to boost workers’ wages and productivity, why aren’t 

they doing that now? 

A.2. There are many possible explanations for the patterns in the 

data that were identified in my work with Aparna Mathur, and 

then confirmed by many others (Hassett and Mathur 2015). My 

own intuition for the emergence of the factors you mention is that 

highly profitable multinational firms are able to locate production 

in low tax countries in order to avoid the high U.S. tax. When they 

do that, they do not create jobs here in the U.S. so wages stagnate, 

even when profits soar. The data suggest that blue-collar workers 

benefit when countries reduce their corporate tax rates in order to 

attract investment. There is no reason to expect that pattern not 

to hold should the U.S. do the same. If confirmed, I would look forward to interacting with the staff to provide an update on developments in this literature. 

Q.3. Do you think Goldman Sachs’ prediction is wrong? 

A.3. The capital formation that could drive domestic wages higher 

would require financing should there be tax reform in this country. 

There is a large academic literature that identifies the sources of 

financing for capital spending, including work 2 by myself and my 

coauthor Alan Auerbach of Berkeley (Auerbach and Hassett 2003). 

I have no reason to dispute the Goldman analysis, but it would, I 

believe, change significantly if the U.S. were suddenly a more attractive locale for the location of capital spending. At that point, 

the literature suggests that a good bit of the capital spending 

would likely be financed by internal cash holdings, and share repurchases would decline. Indeed, Auerbach and I found exactly this 

link. 

Q.4. Do you support the inclusion of a border adjustment tax in 

any proposals to reform our tax system? 

A.4. The theoretical optimal tax literature suggests that moves toward tax systems like the border adjusted business cash flow tax 

can be positive for economic growth. There are also a number of 

uncertainties regarding specific attempts to move from theoretical 

modeling to real world tax law, and academic economists have 

raised a number of possible transition concerns, such as the impact 

of currency adjustment, that should be taken seriously. If confirmed, I would provide the President with unbiased analysis of the 

broad economic literature in this space. 

Q.5. What do you think the impact of a border adjustment tax 

would be on an average American’s annual cost of groceries and 

other consumer goods? 

A.5. The impact of a border adjustment tax on the cost of groceries 

and consumer goods would depend on the extent to which the dollar adjusts to offset the tax. If confirmed, I would, if requested, instruct the professional staff at the CEA to review the literature in 

this area and provide a range of estimates of possible effects. 

110 

3https://dash.harvard.edu/bitstream/handle/1/2766676/feldsteinltaxable.pdf?sequence=2 

Q.6. According to independent economists, President Trump’s tax 

proposal is estimated to cost $3 to $7 trillion over 10 years. While 

we don’t have all the details, nothing in the President’s proposal 

suggests a new stream of revenue sufficient to pay for the cost of 

the proposed tax cuts. When Secretary Mnuchin testified before the 

Banking Committee in May, he claimed that the Administration 

expected that the tax cuts would be paid for by economic growth. 

Do you think it is realistic to think that economic growth will 

generate sufficient revenue to fully pay for the tax cuts proposed 

by the Administration? 

A.6. If confirmed as CEA Chairman, I would be actively involved 

in the budget process. I was not part of the modeling effort for this 

budget, and do not have all of the background information one 

might need to provide my own perspective on the numbers. 

Q.7. As a historical matter, one can think of examples where tax 

reform efforts have produced positive revenue effects. For example, 

the Tax Reform Act of 1986 was designed to be revenue neutral on 

a static basis. To the extent that it generated positive economic 

growth, which it certainly did (e.g., Feldstein 1995), 3 it would have 

had a positive effect on revenue. 

Do you think it is realistic to assume that our economy will grow 

at 3 percent for 10 years without any downturns? 

A.7. It is not reasonable to expect economic growth to return to 3 

percent without significant policy changes. There are many 

headwinds at the moment, including low productivity growth and 

low capital formation. Should tax policy change in the direction indicated in the President’s tax outline, it would be natural to expect 

growth to increase significantly, even to 3 percent if the tax reform 

is well designed. 

Downturns, sadly, are very difficult to see coming. Looking back 

at economic history, it was not uncommon for us to recognize that 

the data indicated we were in a recession only after the recession 

ended. It is standard practice for growth assumptions not to factor 

in a specifically dated recession because economists are simply unable to see ahead accurately enough to do that. 

Q.8. The budget proposed by the President assumes that the tax 

cut proposal the Administration has put forward will be revenue 

neutral. As Secretary Mnuchin testified to the Banking Committee, 

the tax reform proposal would be paid for by economic growth. 

However, the budget proceeds to assume that on top of the economic growth needed to pay for tax cuts, an additional $2 trillion 

in economic growth will reduce the deficit. Independent analysts 

have pointed out that this double counts the estimated revenue 

from economic growth and that, after correcting for this double 

counting, the budget would add to the deficit. 

Do you agree that the budget double counts revenue from economic growth? 

A.8. Since I was not part of the modeling team that produced the 

budget, and have not seen the model outputs that lead to it, I cannot speak to its assumptions. If confirmed, I pledge to be actively 

111 

4http://www.journals.uchicago.edu/doi/abs/10.1086/261994 

involved in the process, and to be available to you to explain all 

of the modeling assumptions behind the numbers. 

As to the double counting claim, the 1986 Tax Reform Act, again, 

was designed to be revenue neutral, but probably was a positive for 

revenue after the growth effects. When I read the budget, it was 

this kind of dynamic that first came to mind. 

Q.9. Do you think the Administration’s budget will create the conditions necessary for greater economic growth? 

A.9. While estimates vary, the economics literature is 4 clear that 

tax reform can have a large positive effect on economic growth 

(e.g., Feldstein 1995). As this budget proposes a tax reform, it is 

logical that it would predict growth to be higher than private sector 

forecasts that do not factor in the President’s proposed policy 

changes. 

Q.10. Do you think the Administration’s budget will reduce the deficit? 

A.10. As mentioned, I was not part of the modeling effort that went 

into the production of this budget, but have no reason to doubt the 

professionalism of the staff that produced it. One of my favorite 

parts of every budget is the end, where the staff members that produced the budget are acknowledged individually. This year’s budget 

ended with a list of 597 credited OMB staff who burned the midnight oil to produce the numbers, a majority of whom (about 75 

percent) also worked on and were credited in President Obama’s 

final budget. If confirmed, I would relish the opportunity to work 

with so many able civil servants, with long institutional memory, 

who play such an important role serving their country. 

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Romer, Christina D., and David H. Romer, ‘‘The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks’’, American Economic Review (2010), 100 (3): 763–801. 

Stevens, Ann Huff, and Jessamyn Schaller, ‘‘Short-Run Effects of 

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Sullivan, Daniel, and Till Von Wachter, ‘‘Job Displacement and 

Mortality: An Analysis Using Administrative Data’’, The Quarterly Journal of Economics 124.3 (2009) F: 1265–1306. 

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Woo, Jaejoon, and Manmohan S. Kumar, ‘‘Public Debt and 

Growth’’, Economica 82.328 (2015): 705–739. 

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RESPONSES TO WRITTEN QUESTIONS OF SENATOR BROWN 

FROM PAMELA HUGHES PATENAUDE 

Q.1. HOTMA Implementation—Last year, Congress passed the 

Housing Opportunity Through Modernization Act (HOTMA) with 

bipartisan support. If confirmed, will you work to ensure the expeditious implementation of HOTMA? 

A.1. Yes, if confirmed, I will ensure expeditious implementation of 

HOTMA reforms. 

Q.2. Housing and Poverty—As you point out in your opening statement, Matthew Desmond makes the case for how the lack of safe, 

affordable housing contributes to poverty. 

In recent years, we have heard more about how important safe, 

affordable housing is as a platform to build better long-term outcomes for children, seniors, workers, and people with disabilities. 

These investments may also help save money in other areas like 

health care, education, and criminal justice. 

What are your views as to the role that safe, affordable housing 

plays as a platform for better outcomes for Americans? 

A.2. I believe that decent and safe affordable housing is critical to 

family stability and the alleviation of poverty and prevention of 

homelessness. 

Q.3. Funding for Blight Elimination—Communities across Ohio 

struggle with a legacy of blighted properties. These properties depress neighborhood property values, create crime and safety hazards, and reduce local tax rolls. Communities in Ohio and other 

States have struggled to find resources to remove these blighted 

properties. 

In response to a question from Senator Donnelly, you mentioned 

that Federal funds other than CDBG, which the Administration 

has proposed for elimination, could be used for the elimination of 

blighted properties. 

Can you provide a list of the other Federal programs that are 

providing new resources to communities for removal of blighted 

properties? 

A.3. There are a number of HUD programs that fund demolition, 

though most of these allow it when in conjunction with reconstruction. HUD’s Neighborhood Stabilization Programs (NSP1, NSP2, 

and NSP3) also allow for demolition of blighted structures, as a 

standalone activity. I believe there is over $400 million in unexpended NSP funds remaining in all three programs, roughly $10 

million unexpended in the State of Ohio and the State’s local recipients of the funds. Additionally, there are other Federal programs that fund demolition, for instance the Treasury Department’s Hardest Hit Fund (HHF), which for many communities conducting demolitions, HHF is the largest source of funds for these 

demolitions. 

Q.4. LIHTC and the Budget—Ms. Patenaude, both you and Secretary Carson have cited the Low Income Housing Tax Credit as 

an example of a public–private partnership that works. I am concerned that some of the President’s proposals could weaken the impact of the LIHTC. For example, we are already hearing that investment in LIHTC has already dropped in Ohio and across the 

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country in anticipation of the President’s proposed tax rate cuts. 

This is causing some developments and preservation projects to fall 

through, and sending States and developers scrambling to fill holes 

in their budgets. The budget also proposes to eliminate the HOME 

program, which was already being used to fill critical funding gaps 

in about 25 percent of LIHTC developments. 

Have you examined the potential impact of these policies on 

LIHTC? How would you generate funding for affordable housing if 

the President’s plans are adopted and HOME is eliminated and the 

value of LIHTC is greatly diminished? 

A.4. Tax credit pricing at the end of 2016, beginning of 2017 declined. However, to date anecdotal evidence suggests that market 

conditions have stabilized in terms of equity pricing (even in anticipation of Federal tax reform). If the Congress reduced HOME and 

CDBG to requested levels, the unobligated budget authority would 

take some time to spend down. State and local governments also 

provide critical gap funding resources to support LIHTC developments through State housing trust funds provided in some cases by 

State fees on closings. In addition, some States are using funds 

earned through participation in FHA’s risk share program. 

Q.5. Opioid Recovery and Housing—As you probably know, Ohio 

has been ravaged by the opioid epidemic. We hear heart-breaking 

stories every day about families struggling with addiction. 

Last year, I had the pleasure of speaking at an awards ceremony 

for a permanent supportive housing development in Lancaster, 

Ohio, called Pearl House. Pearl House provides affordable housing 

and access to comprehensive services to parents in recovery and 

their children, many of whom were previously homeless or at risk 

of homelessness. In this environment, parents can continue their 

recovery and work toward self-sufficiency while their children have 

a stable environment in which to grow. It took a combination of 

LIHTC, other grants, and dedicated rental assistance vouchers to 

create Pearl House and ensure affordability for these fragile families. 

What are your thoughts about whether permanent, supportive 

housing such as Pearl House can contribute to addiction recovery 

for more Ohioans and people across the country? 

A.5. Evidence based research demonstrates that a Housing First 

approach is an effective strategy to improve health outcomes for individuals suffering from substance abuse including opioids. We 

should learn from the success of the Interagency Council on Homelessness as a model for addressing the complexity of the opioid epidemic. 

Q.6. What role do you believe available, affordable housing can 

play in helping people avoid or escape opioid addiction? 

A.6. I believe that affordable housing plays a critical role in promoting family stability. Stable housing is a critical platform for 

substance abusers seeking treatment for addiction. 

Q.7. Federal Housing Administration/Housing Counseling—In the 

past, you supported the Obama administration’s ‘‘HAWK’’ proposal, 

which emphasized homebuyer education for FHA borrowers. Do 

you still agree with this proposal? 

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A.7. If confirmed, I look forward to working with Congress to better 

understand the concerns about this proposal. 

Q.8. What are your views about the role of housing counseling in 

building sustainable homeownership? 

A.8. Housing counseling is a critical component of sustainable 

homeownership. The proposed budget for FY2018 requests $47 million for these important programs, a funding level consistent with 

the level provided by Congress during the current fiscal year. 

Q.9. HUD’s Affirmatively Furthering Fair Housing (AFFH) Rule— 

If confirmed, do you intend to carry out HUD’s Affirmatively Furthering Fair Housing Rule? 

A.9. Yes, if confirmed, I pledge to carry out HUD’s Affirmatively 

Furthering Fair Housing Rule. 

Q.10. LGBTQ Housing Rights—Do you believe that HUD should 

continue to provide equal access to housing opportunities for lesbian, gay, bisexual, transgender, and queer (LGBTQ) individuals? 

A.10. Yes, I believe HUD should continue to provide equal access 

to housing opportunities for all Americans. 

Q.11. In recent months, HUD has withdrawn two Notices and removed from its website several resources intended to carry out its 

policies to ensure housing rights for LGBTQ individuals. This includes LGBTQ youth, who make up nearly 40 percent of all homeless youth. The withdrawn Notices were designed to (1) require 

HUD-participating housing providers to display information regarding the rights of LGBTQ individuals and (2) collect information 

necessary to evaluate the effectiveness of an LGBTQ youth homelessness demonstration program. 

If confirmed, will you work to reinstate these notices and guidance? If not, why not? 

A.11. HUD career staff has informed me that this survey was withdrawn to allow the program office to thoroughly examine the information included in the survey and its effectiveness. It is currently 

under review and I pledge to consider this issue, if confirmed. 

Q.12. Preserving Access to Opportunity—In recent years, many cities have seen a wave of population growth and investment that 

have led to greater economic activity, tighter rental housing markets, and rising rental housing costs. As a result, many lower-income families and businesses who endured challenging decades in 

their communities are finding themselves priced out of their longtime neighborhoods just when additional economic opportunities 

are opening up. Loss of housing in urban neighborhoods can push 

residents away from access to jobs, transit, and local support networks such as hospitals and child care. In many of these neighborhoods, federally assisted housing may be coming to the end of longterm affordability contracts or at risk of loss due to physical deterioration. HUD estimates that we are losing 10,000 units of public 

housing every year due to physical obsolescence. By 2025, nearly 

2.2 million units of HUD-assisted and Low Income Housing Tax 

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1See ‘‘America’s Rental Housing: Expanding Options for Diverse and Growing Demand, Key 

Facts’’, p. 4, Harvard Joint Center for Housing Studies, December 9, 2015, available at http:// 

jchs.harvard.edu/americas-rental-housing. 

Credit-supported housing will reach the end of their affordability 

periods. 1

Do you believe that HUD and communities should help preserve 

housing and economic opportunities for lower-income families in 

neighborhoods experiencing economic growth and rising rental 

costs? 

A.12. Yes, HUD and local communities should encourage and 

incentivize economically integrated neighborhoods. 

Q.13. If so, what role do you think HUD and HUD’s programs 

should play in preserving these opportunities? 

A.13. HUD should incentivize creative and innovative approaches 

to preserving affordable housing developments with nearing expiring use restrictions. 

Q.14. Housing for People With Disabilities—Very-low income people 

with disabilities have great difficulty in finding and paying for suitable affordable housing with access to appropriate features and 

services. Over 1 million very low-income, non-elderly persons with 

disabilities pay over half of their incomes for housing, and approximately 2 million more people—including those with developmental 

disabilities—are living in more restrictive, institutional environments than they would choose or are living with an aging caregiver. Rent on a modest 1 bedroom apartment at HUD’s estimated 

national fair market rent would consume all of the income of a person relying upon Supplemental Security Income (SSI). 

What do you view as HUD’s role in meeting the housing needs 

of low-income people with disabilities? 

A.14. HUD programs are designed to allow persons with disabilities to live as independently as possible in the community, subsidizing rental housing opportunities which provide access to supportive services. For at least the last 8 years these programs have 

faced funding pressure. HUD should focus on ways to provide such 

support in the most efficient way possible. If confirmed, I commit 

to working with our stakeholders, including States, local governments, Congress, and other partners to seek rental reforms that 

allow these programs to be sustainable and help our most vulnerable citizens. 

Q.15. Housing for Senior Citizens—Across America, seniors are 

struggling to pay for their housing costs. We know that very low 

income seniors who pay more than half of their incomes for housing 

also spend much less than their peers on health care, food, transportation, and retirement savings. We also know that affordable 

housing can be a tremendous, cost-saving platform for the provision 

of services to seniors—services that help seniors remain healthy, 

address health challenges, and age in place. 

Yet, only one-third of seniors eligible for HUD rental assistance 

programs get to use them, resulting in the housing cost burdens 

and associated lower spending on health, food, and transportation. 

These shut-out seniors also miss out on the health benefits that 

come with access to a service coordinator in their apartment buildVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00121 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
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ings, from living in appropriately accessible homes that HUD-assisted housing provides, and living in a community that guards 

against social isolation. 

What is more, as you know, recent studies from both the Bipartisan Policy Center and Harvard’s Joint Center for Housing Studies 

have documented a coming wave of housing needs for America’s 

senior citizens. These needs will include: additional affordable rental housing, housing and community adaptations necessary to help 

seniors age in place; integrating health and supportive services into 

housing; and improving technologies such as telemedicine. To meet 

these challenges, the Bipartisan Policy Center has recommended a 

combination of continued investment in affordable rental housing, 

home modification programs, and coordination between health care 

and housing providers to improve health outcomes and lower costs. 

If confirmed, what will you do to meet the housing challenges of 

an aging America? 

A.15. Housing an aging population represents a major challenge for 

the United States. By 2030, the senior population is projected to 

exceed 74 million, representing more than one in five Americans. 

Over the next 15 years, millions of Baby Boomers will seek to ‘‘age 

in place’’ in their own homes and communities. 

Yet many of our homes and communities lack the structural features and support services to enable safe, independent living by 

seniors. The Bipartisan Policy Center (BPC) Housing Commission, 

which I led as director, identified the desire of seniors to age in 

place as a ‘‘new frontier’’ in housing policy. If confirmed, I intend 

to help focus the Department on this critical issue. Strong leadership at HUD can help harness the creativity and resources of the 

private and nonprofit sectors, as well as Government at all levels, 

to respond to the growing need for affordable housing that is also 

suitable for senior living. New and emerging technologies will likely play an important role in enabling aging in place. It is also more 

critical than ever to break down the silos in the Federal Government to ensure the most effective and efficient delivery of services 

across a broad array of fields, including housing, health care, and 

transportation. 

Q.16. Will you take actions to increase the supply of affordable, accessible rental housing for lower-income seniors? 

A.16. Yes, I will. Throughout my career, I have been a strong supporter of the Low-Income Housing Tax Credit, which has been a 

critical source of financing for rental homes affordable to the Nation’s lowest-income seniors. Some States provide set-asides and 

preferences in their LIHTC allocation plans for senior housing developments and promote the adoption of universal-design features 

to improve accessibility. The BPC’s Senior Health and Housing 

Task Force recognized, regulatory and land-use policies at all levels 

of Government can act as barriers to the production of affordable 

senior housing. On the positive side, some communities have adopted policies that allow for and encourage greater affordable housing 

options for seniors, such as accessory dwelling units. If confirmed, 

I will make it a priority to illuminate the impact of regulatory barriers on access to affordable housing, highlight best practices 

drawn from communities throughout the country, and show how 

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these policies can both positively and negatively impact one of our 

Nation’s most vulnerable groups: low-income seniors. 

Q.17. Will you take actions to help seniors modify their homes in 

order to help them age in place? 

A.17. Yes. According to Harvard’s Joint Center for Housing Studies, just 57 percent of existing homes have more than one of five 

universal design features—no-step entries, single-floor living, 

switches and outlets accessible at any height, extra-wide hallways 

and doors, and lever-style door and faucet handles—that can help 

make homes safer for seniors and enable aging in place. Improving 

safety through home modifications has tremendous upside: Falls 

are the leading cause of injury-related death among seniors, and 

most falls occur in the home. In 2015, treating falls cost Medicare 

more than $31 billion. If confirmed, I will work to ensure that HUD 

programs are coordinated with programs administered by other 

Federal agencies that also provide resources and expertise for home 

assessments and modifications. I am aware of legislation recently 

introduced by Senators Angus King and Susan Collins, the Senior 

Home Modification Assistance Initiative Act, which seeks to improve this coordination and provide more consumer-friendly information on how these programs can benefit older Americans. Some 

State and local governments assist low-income seniors with home 

modifications through property tax credits, grants, or forgivable 

loans. 

Q.18. How would you foster collaboration with health care providers to meet the needs of America’s seniors? 

A.18. With the rapid expansion of the senior population, greater 

collaboration between the health care and housing sectors will be 

critical. During my career in housing, I have found that housing 

and health care professionals rarely interact with each other, and 

when they do, they utilize very different vocabularies. A notable exemption was the successful work and model collaboration of the 

Interagency Council on Homelessness. If confirmed, I will make it 

a priority to help bridge this divide. HUD serves approximately 1.3 

million senior renters, most of whom are dually eligible for Medicare and Medicaid. I will work with my counterparts at the U.S. 

Department of Health and Human Services and the Centers for 

Medicare and Medicaid Services to identify ways to improve health 

outcomes for these seniors and potentially generate savings for the 

two taxpayer-funded health insurance programs. 

Q.19. Do you support service coordination as a strategy for improving outcomes for seniors? 

A.19. Yes, effective service coordination can improve health outcomes for seniors and has the potential to reduce health care costs. 

There are a number of locally driven programs like Support and 

Services at Home (SASH) in Vermont that are showing promising 

results. 

Q.20. Listening to Assisted Families and Advocates—If confirmed, 

do you plan to meet with assisted families and organizations that 

advocate on behalf of HUD program participants and low-income 

families? 

A.20. Yes. 

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Q.21. Do you support dialogue between HUD staff and organized 

tenant groups to assist HUD in its oversight of housing programs? 

A.21. Yes. 

Q.22. Potential Conflicts of Interest—I understand that your husband works at a mortgage firm that deals with both HUD-backed 

and Government Sponsored Enterprise-backed multifamily and 

other mortgages. Is that correct? 

A.22. Yes, my husband, Chuck Patenaude is employed by Dougherty Mortgage, LLC. 

Q.23. If so, how are you planning to make sure that you do not 

have the appearance of any conflicts of interest with your husband’s firm? 

A.23. At all times, I will abide by the terms of my executed Ethics 

Agreement. I will take the following steps to avoid any actual or 

apparent conflicts of interest. I will not participate personally and 

substantially in any particular matter that to my knowledge has a 

direct and predictable effect on my husband’s compensation and 

employment with Dougherty Mortgage, LLC. I will also not participate personally and substantially in any particular matter involving specific parties in which I know Dougherty Mortgage, LLC is 

a party or represents a party. 

Q.24. HUD Staffing and Program Oversight—According to HUD’s 

FY2017 Congressional Justifications, the Department ‘‘confronts 

two major challenges: (1) HUD has experienced the greatest percentage decline of permanent career employees across the Government from 2005 through 2014 and (2) HUD possesses the highest 

percentage of any agency of career permanent employees eligible to 

retire by 2019. This retirement wave can cause a loss of leadership 

and institutional knowledge at all levels.’’ Such a loss could also 

cause a failure to ensure that the Department is upholding its duties to taxpayers by ensuring the quality of federally assisted housing, enforcing program rules, and overseeing FHA lending programs, for example. 

Have you examined the potential impact of a loss of staff on 

HUD’s ability to carry out its mission and ensure the public trust? 

A.24. If confirmed, I look forward to approaching this issue through 

the work of HUD’s agency reform plan. I am confident we can 

maintain the quality of HUD services that the American public expects, despite the staff reductions the Department has sustained. 

I look forward to guiding the development of HUD’s hiring plans 

to ensure that the most critical needs are met rather than maintaining positions that may no longer be needed due to technological 

advancements or from improved ways of doing business. 

Q.25. HUD Fair and Equitable Lawsuit—A recent HUD Inspector 

General’s audit noted that HUD faces a significant potential litigation liability of between $55 million and $650 million for an arbitration known as the ‘‘Fair and Equitable Arbitration Remedy’’. 

This case has been going on over 10 years. 

Are you familiar with this case? 

A.25. No, I am not familiar with any pending personnel or labor 

cases at HUD. 

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Q.26. If confirmed, will you commit to looking into this case and 

working to wrap it up in a fair fashion? 

A.26. Yes, if confirmed I will commit to looking into this case and 

requesting regular updates from legal counsel. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SHELBY 

FROM PAMELA HUGHES PATENAUDE 

Q.1. Ms. Patenaude, more than 22 million Americans reside in 

manufactured housing. Manufactured homes are particularly important in rural States such as Alabama (where manufactured 

homes are 16.2 percent of occupied housing units, compared to 7.3 

percent nationwide). Manufactured housing is critical in addressing 

housing needs in many rural communities where multifamily options are often limited or impractical. 

I have long been an advocate for agencies conducting a cost-benefit analysis when crafting regulations. Without this analysis, costs 

are increased without a clear justification that the new regulations 

will lead to improvements that are in the best interest of consumers. Can you ensure that HUD properly takes into account the 

economic impacts and necessity of new requirements when issuing 

regulations about the construction and installation of manufactured housing? 

A.1. Yes, If confirmed, I look forward to working with you and your 

staff to better understand the unique aspects of this industry. 

Q.2. President Trump has asked all Federal agencies to examine 

the way their departments are organized. He has recommended 

that all agencies determine structural plans that allow for more efficient and effective operations. Will you commit to making sure 

that manufactured housing is well represented and has an active 

role in any new HUD reorganization? 

A.2. I will. Manufactured housing is the largest source of unsubsidized affordable housing in America and a critical component of 

housing rural America. The importance of Manufactured Housing 

will certainly be considered when considering any reorganization. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SASSE 

FROM PAMELA HUGHES PATENAUDE 

Q.1. In 2015, HUD’s inspector general found that as many as 

25,000 families received HUD funding despite exceeding income 

limits that determine eligibility for HUD programs. For example, 

one Nebraska-based HUD beneficiary had $1.6 million in assets 

and had an income that was almost twice the income threshold. 

Will you commit to addressing the problem of over income families 

as HUD Secretary? 

A.1. If confirmed, I will review this issue closely. 

Q.2. How will HUD defer to State and local governments under 

your leadership? 

A.2. I believe State and local governments understand their communities much better than Washington, DC, based officials. If confirmed, I will delegate as much authority as possible HUD’s regional and field offices. Where the statute allows, I will work with 

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State and local leaders to provide flexibility with allocated resources. I pledge to continue to develop strong working relationships with HUD’s partners. 

Q.3. How can HUD avoid interfering with community-based, nongovernmental efforts to fight poverty? 

A.3. HUD must respect the role these valuable partners play in 

eliminating poverty and to providing opportunity for our Nations’ 

most vulnerable populations. 

Q.4. As HUD Secretary, the late Jack Kemp supported policies that 

were aimed at revitalizing urban areas. How will HUD promote 

urban renewal under your tenure? 

A.4. Consistent with Secretary Kemp’s approach, I seek to ensure 

that individuals and communities explore a broad range of options 

to promote urban revitalization efforts. While public resources are 

certainly a component of an overall urban strategy, we need a 

greater reliance on market resources to stimulate investments that 

will improve the quality of life in the Nation’s communities. The 

combining of these resource streams through an expanded use of 

public–private partnerships and nonprofits will be critical to these 

revitalization efforts. I intend to ensure that HUD will contribute 

its staff expertise to aid communities in developing these partnerships and while also ensuring that available HUD financial resources are effectively used to promote these efforts. 

Q.5. Much of my State of Nebraska is rural. What unique challenges does HUD face in rural areas and how will you address 

them? 

A.5. If confirmed, I pledge to work closely with Members of the 

Congressional Delegation representing rural communities to better 

understand the unique housing and community development needs 

of their constituents. 

Q.6. How will you police waste and protect taxpayer dollars at 

HUD? 

A.6. If confirmed I will work with the program offices to improve 

program oversight to prevent fraud and abuse. I pledge to establish 

a strong working relationship with the office of the Inspector General. 

Q.7. When, if at all, should HUD ignore local zoning laws? 

A.7. HUD does not and should not preempt local zoning laws. However, HUD can share best practices and encourage local communities to consider adopting land use regulations that promote the 

production and preservation of affordable housing. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR REED 

FROM PAMELA HUGHES PATENAUDE 

Q.1. The Federal Housing Administration (FHA) has several foreclosure avoidance tools at its disposal to keep families in their 

homes. If confirmed, will you ensure that HUD and FHA exhaust 

every possible means of helping a family to avoid foreclosure before 

actually foreclosing on a family? 

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A.1. Loss mitigation alternatives to foreclosure, such as loan modifications, are very important to HUD and FHA. These alternatives 

not only help borrowers stay in their homes, but can reduce losses 

for FHA. FHA has in place a clear set of requirements for lenders 

to evaluate the borrower’s situation and extend appropriate loss 

mitigation options to borrowers interested in staying in their home. 

If confirmed, I will ensure that FHA will continue to provide alternatives to foreclosure tailored to the borrower’s hardship circumstances. 

Q.2. Given your work on affordable housing in the past and the 

time that you have now had to review the President’s FY18 budget 

request for HUD, do you personally believe there are any programs 

that are proposed to be cut for which funding should be maintained 

or increased? 

A.2. As a life-long housing practitioner and advocate I have witnessed the positive outcomes these programs can achieve but I am 

also aware of the urgent need to reform programs to create efficiency and achieve greater outcomes for the program participants. 

As I stated during my confirmation hearing, I was not involved in 

the budget development process. If confirmed, I will be an advocate 

for programs with proven track records of success. I will bring my 

housing perspective to future budget debates. 

Q.3. The National Low Income Housing Coalition (NLIHC) has described the National Housing Trust Fund, which I authored, as 

‘‘the first new housing resource in a generation. It is exclusively 

targeted to help build, preserve, and rehabilitate housing for people 

with the lowest incomes.’’ NLIHC also recently reported that our 

nation has ‘‘a shortage of 7.4 million affordable rental homes available to the lowest income people.’’ If confirmed, will you commit to 

working with me to preserve the National Housing Trust Fund? 

A.3. If confirmed, I will commit to implementing the existing resources provided to the department for the National Housing Trust 

Fund in accordance with all statutes and regulations in the most 

efficient and effective manner. 

RESPONSES TO WRITTEN QUESTIONS OF 

SENATOR MENENDEZ FROM PAMELA HUGHES PATENAUDE 

Q.1. During your nomination hearing, you repeatedly stated that 

you support the President’s fiscal year 2018 budget request. Included in the request is the proposed elimination of the Community 

Development Block Grant program, the HOME Investment Partnership Program, and the Choice Neighborhoods program, as well 

as significant cuts to the Public Housing Operating and Capital 

Funds, to the Tenant Based Rental Assistance program, and to the 

Section 811 Housing for Persons with Disabilities program. When 

asked about large-scale cuts to HUD’s programs during his nomination hearing, Secretary Carson said that it would be ‘‘cruel and 

unusual punishment to withdraw those programs before you provide an alternative route.’’ If enacted in its current form, will this 

budget proposal increase housing instability and homelessness? 

A.1. In the short term, if Congress funds HUD at the proposed 

level, I believe it will take some time to spend down the existing 

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unobligated budget authority. If Congress maintains this level of 

funding beyond the short term, these are concerns that will need 

to be monitored. 

Q.2. Do you support elimination of the Community Development 

Block Grant program as proposed in the budget? If you do support 

the budget, please explain what specific alternative funding mechanisms will be provided to States, cities, and localities to fill the void 

created by elimination of the program. 

A.2. The proposed FY2018 budget does not request new funding for 

CDBG, although unexpended budget authority and staffing remains. As a life-long housing practitioner and advocate for CDBG, 

I’ve seen the great outcomes this flexible program can achieve. But 

CDBG’s flexibility, one of its greatest virtues, can also be a curse. 

For every example of housing created, detractors can point to cities 

where mayors have used these dollars to plug budget holes. Better 

targeting in areas such as lead abatement, low- to moderate-income 

housing production/preservation and blight elimination would create more measurable results. As the President’s nominee, I support 

the Administration’s proposed budget, which balances priorities 

governmentwide. If confirmed, I will bring a robust, practitioner’s 

view to future internal budget deliberation processes. Further, if 

confirmed, I look forward to working with Congress on policy reforms to improve the programs of the department into the future. 

Q.3. Do you support elimination of the HOME Investment Partnership program as proposed in the budget? If you do support the 

budget, please explain what specific alternative funding mechanisms will be provided to States, cities, and localities to fund the 

creation of affordable housing for low-income households. 

A.3. As Secretary Carson laid out in his hearings last week, the 

Budget reflects hard choices to maintain fiscal responsibility. When 

the previous Administration reduced HOME program funding 

below $1B, it resulted in national allocations that can make it difficult for recipients to achieve the goals of the program. As I said 

in the previous question, HOME, like CDBG, has produced some 

positive outcomes. It has also been the subject of national media 

attention surrounding the misuse of these Federal funds. Significant unexpended budget authority remains. If confirmed, I commit 

to ensuring the efficient and effective utilization of all available 

HUD resources. I look forward to working with the Congress, State 

and local governments, and private sector partners to identify 

mechanisms and means to support the development and preservation of affordable housing. 

Q.4. Do you support elimination of the Choice Neighborhoods program as proposed in the budget? If you do support the budget, 

please explain what specific alternative funding mechanisms will 

be provided to revitalize distressed public and assisted housing and 

their surrounding communities. I support place-based strategies. 

Choice Neighborhoods and the iterations of the HOPE program 

have created some strong communities. Although, many believe it 

can lead to gentrification and may be at odds with a mobility or 

high opportunity area strategy. The RAD program is showing 

promising results. 

125 

Do you support a 67 percent reduction to the Public Housing 

Capital Fund as proposed in the budget? If you do support the 

budget, please provide a detailed explanation of what funding 

sources public housing agencies can utilize to address the backlog 

of capital repairs estimated in 2010 to be at $26 billion and increasing each year. 

A.4. This account faces pressure every year. No matter what 

amount is appropriated, the repair estimates continues to grow. If 

confirmed, I would very much welcome the opportunity to work 

with Congress on finding additional ways to address the capital 

backlogs. 

Q.5. Do you support a 12 percent reduction to the Public Housing 

Operating Fund as proposed in the budget? If you do support the 

budget, please describe how this proposed cut will impact public 

housing agencies’ ability to operate and maintain the country’s 1.1 

million public housing units. Please also describe how the proposed 

cut will impact the residents living in public housing units. 

A.5. HUD career staff advise that this funding level will support 

existing households and that this is a first step towards holistic 

rental reforms. If confirmed, I commit to working with stakeholders 

to identify fiscally sustainable options to transform this antiquated 

delivery system. Voluntary PHA consolidations may be one option. 

ACC conversion may be another. Local decision making and flexibility is critical. 

Q.6. Do you support a nearly 5 percent reduction to the Tenant 

Based Rental Assistance account as proposed in the budget? This 

proposed cut will result in elimination of approximately 250,000 

housing vouchers, nearly 8,000 of which are in New Jersey. If you 

do support the budget, how would you propose addressing the resulting increased housing instability and risk of homelessness? 

A.6. I’m advised by HUD staff that these funding levels support existing households. I think some of these numbers are very hard to 

project under our current system. As a life long housing practitioner and advocate, I believe in the goals of the Section 8 program. 

As I stated during my confirmation hearing, I was not involved in 

the budget development process. As the President’s nominee, I support the Administration’s budget request. If confirmed, I will bring 

my housing perspective to future budget debates. 

Q.7. Do you support a 17 percent reduction to the Section 811 

Housing for Persons with Disabilities program as proposed in the 

budget? This proposed cut would result in the elimination of approximately 6,800 homes, nearly 200 of which are in New Jersey. 

If you do support the budget, please explain what specific alternative funding sources will be used to subsidize supportive rental 

housing that allows persons with disabilities to live independently 

in the community. 

A.7. HUD staff have advised that these funding levels support existing households. I think some of these numbers are very hard to 

project under our current system. As a life long housing practitioner and advocate, I believe in the goals of the Section 811 program. As I stated during my confirmation hearing, I was not involved in the budget development process. As the President’s nomiVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00129 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
126 

nee, I support the Administration’s budget proposal. If confirmed, 

I will bring my housing expertise and perspectives to future budget 

debates. 

Q.8. Do you support the elimination of the Housing Trust Fund as 

proposed in the budget? 

A.8. I will commit to efficient utilization of all resources provided 

to the Housing Trust Fund. I am aware of the fact that GSE reform 

could impact the funding level. 

Q.9. In 2014, you spoke positively about the Federal Housing Administration’s Blueprint for Access, which unveiled the Homeowners Armed with Knowledge (HAWK) Program—pairing a modest decrease in mortgage insurance premiums with pre- and postpurchase housing counseling for first-time homebuyers. You called 

the HAWK program a ‘‘particularly welcome development’’ and said 

that it ‘‘recognizes that it is possible to increase mortgage access 

for underserved borrowers without exposing lenders and taxpayers 

to significantly greater risk.’’ Do you still hold the view that the 

Federal Housing Administration should pursue such programs, and 

will you recommend to the Secretary that he consider initiatives 

such as HAWK that expand access to mortgage credit for underserved but creditworthy borrowers? 

A.9. If confirmed, I look forward to working with Congress to better 

understand the concerns about this proposal. 

Q.10. FHA-insured loans are an essential source of mortgage credit 

for minority homebuyers. During the last two decades, a third of 

all African American and Latino borrowers have used FHA-insured 

loans. And since 2008, approximately half of all African-American 

and Latino households looking to buy homes received mortgage 

loans insured by FHA. This is in comparison to FHA’s average 

market share of 13 percent over its 81-year history. 

What is your vision for the Federal Housing Administration? 

How will you ensure that the mutual mortgage insurance fund remains strong and that HUD serves it mission to provide access to 

mortgage credit for underserved borrowers, many of whom are minorities and first-time homebuyers? 

A.10. I agree with the Secretary that FHA should continue to help 

low- and moderate-income, minority and first-time homebuyers access to affordable credit to achieve sustainable homeownership. 

FHA has played an important countercyclical role. We must balance FHA’s mission and risk exposure to the taxpayer. 

Q.11. Are you willing to revisit the Administration’s decision to reverse the mortgage insurance premium reduction in January? 

A.11. I support the Administration’s decision to suspend the proposed FHA mortgage insurance premium reduction. I believe further analysis is required to evaluate the impact of any premium reduction on the health of the MMI fund and the risk to taxpayers. 

Q.12. In prior articles, you have written about low homeownership 

rates and particularly among African Americans and Latinos. In 

recent years, advances in alternative data and credit scoring models have made it possible to generate credit scores for individuals 

that were previously ‘‘unscoreable.’’ Both the GSEs and FHA have 

127 

taken steps to explore the viability of alternative credit scoring 

models. As Deputy Secretary, will you recommend to Secretary 

Carson that FHA research and consider alternative credit scoring 

models that would provide credit scores for individuals that may 

not be able to otherwise qualify for a mortgage loan? 

A.12. Yes, as we discussed during our meeting in your office, if confirmed, I will continue to explore alternative credit models. 

Q.13. What specific policy recommendations would you make to 

Secretary Carson to expand housing opportunities that will allow 

our nation’s low-income elderly to maintain independence and age 

in place? 

A.13. Housing an aging population represents a major challenge for 

the United States. By 2030, the senior population is projected to 

exceed 74 million, representing more than one in five Americans. 

Over the next 15 years, millions of Baby Boomers will seek to ‘‘age 

in place’’ in their own homes and communities. Yet many of our 

homes and communities lack the structural features and support 

services to enable safe, independent living by seniors. The Bipartisan Policy Center (BPC) Housing Commission, which I led as director, identified the desire of seniors to age in place as a ‘‘new 

frontier’’ in housing policy. If confirmed, I intend to help focus the 

Department on this critical issue. Strong leadership at HUD can 

help harness the creativity and resources of the private and nonprofit sectors, as well as Government at all levels, to respond to the 

growing need for affordable housing that is also suitable for senior 

living. New and emerging technologies will likely play an important role in enabling aging in place. It is also more critical than 

ever to break down the silos in the Federal Government to ensure 

the most effective and efficient delivery of services across a broad 

array of fields, including housing, health care, and transportation. 

Q.14. In my State of New Jersey, New Jersey Community Capital 

(NJCC)—a nationally recognized Community Development Financial Institution—has been tremendously successful with the loans 

it has purchased through FHA’s Distressed Asset Stabilization Program (DASP), which allows FHA to sell defaulted mortgages to investors. NJCC is able to make modifications to reduce loan balances and lower monthly payments for homeowners that are behind on their mortgages, allowing them to avoid foreclosure and 

stay in their homes. And where modifications are not possible, 

NJCC has turned foreclosed homes into affordable rental housing 

or new affordable ownership opportunities. 

Will you commit to making improvements to DASP that allow 

community-focused groups like New Jersey Community Capital to 

purchase more loans and therefore achieve better outcomes for 

more homeowners and communities? 

A.14. The Department values all its purchasers, including its nonprofit and community-based purchasers. FHA continues to review 

and constantly improve DASP and similar tools to maximize recoveries to the insurance fund while also maximizing community involvement. If confirmed, I will commit to looking at what can be 

done to ensure the inclusion of community-focused groups while 

still seeking best execution and protecting the interests of the taxpayers. 

128 

Q.15. Will you commit to strengthening the program’s loss mitigation, vacant property, and neighborhood stabilization standards so 

that we can ensure homeowners and neighborhoods are the beneficiaries of this program—not private equity firms and hedge 

funds? 

A.15. DASP and all note sales are primarily designed to maximize 

recoveries/reduce losses to the insurance fund—the insurance 

fund’s health and viability is the beneficiary. HUD is proud of the 

efforts made to date in strengthening DASP loss mitigation, vacant 

property, and neighborhood stabilization elements. If confirmed, I 

will continue look at ways to improve all aspects of the Department’s note sales. 

Q.16. The Department of Housing and Urban Development employs about 8,300 people nationwide. Job titles and wages, assigned 

during the hiring process, typically set a course for an employee’s 

career for years to come. The quest for diversity at all levels of 

Government is an issue of fairness and opportunity, and it’s fundamentally tied to an inclusive workplace. However, decades of social scientific research have shown how bias in the employment 

and hiring process can limit opportunities for historically excluded 

groups. What steps will you take as Deputy Secretary to make your 

agency a more inclusive and diverse workforce in both senior and 

mid-level management positions? 

A.16. Working closely with HUD’s Office of Departmental Equal 

Employment Opportunity, if confirmed, I look forward to having 

the opportunity to advance the work achieved to date in making 

HUD among the most diverse Federal agencies. I plan to engage 

HUD’s Diversity Council to get their feedback on how we can continue to improve. EEO will continue to be a key management objective in HUD’s strategic plan during the Trump administration. 

Q.17. The Department of Housing and Urban Development has a 

unique role in empowering disenfranchised communities of color. 

This is an area about which I care deeply. Understanding the challenges that these communities face, be it housing discrimination, 

affordability, homelessness, limited employment opportunities, or 

other, will require a diverse workforce at the most senior level to 

help you carry out the agency’s mission. What steps will you take 

as Secretary of Housing and Urban Development to ensure the 

strategic planning and mission of the Department is led and crafted by people who look like the communities they serve? 

A.17. Over half of HUD’s employees are from minority populations 

as well as 44 percent of the career senior leadership team. In further building the team, I am committed to ensuring diversity is a 

critical component of all hiring decisions. Additionally, if confirmed 

as Deputy Secretary, I will work closely with HUD staff on a comprehensive stakeholder outreach plan in addition to the great work 

Secretary Carson has already conducted during his listening tour. 

Q.18. The President’s budget request includes a general provision 

increasing tenant rent contributions from 30 percent to 35 percent 

of income. According to the Department’s own estimates, for households living in units receiving subsidies through the section 8 

project-based rental assistance program, this proposal would result 

129 

in a nearly 22 percent tenant rent increase in the first year, and 

a 31 percent rent increase in subsequent years. In addition, the Department calculated that a staggering 64 percent of the population 

impacted by the proposed rent increases are elderly or disabled. 

Do you believe that tenant rent increases of 22 percent and 31 

percent are significant? 

A.18. I believe the idea is that the move to gross rent proposal 

would help simplify rents by relying on gross income rather than 

adjusted income. If confirmed, I commit to working with Congress 

and stakeholders on a rental reform package that improves the efficiency and effectiveness of HUD rental assistance programs, to 

allow us to serve as many as possible without displacing currentlyserved households. 

Q.19. In your opinion, how will the impacted elderly and disabled 

households—the vast majority of whom live on fixed incomes—be 

able to afford a 22 percent and ultimately 31 percent rent increase? 

A.19. Please see the answer above. 

Q.20. Do you believe that a 22 percent rent increase, and ultimately a 31 percent rent increase, on the Nation’s lowest-income 

families, elderly, and persons with disabilities will increase housing 

instability? If not, please explain. 

A.20. Please see the answer above. 

Q.21. Both you and Secretary Carson have repeatedly stated that 

there is a greater role for State and local governments to play in 

the provision of housing assistance and the development of affordable housing. I agree that States and local governments have a 

critical role to play, but they are not able to do it alone. As a 

former mayor, I understand that our cities need a strong Federal 

partner, particularly when it comes to investments. What specific 

evidence have you considered that leads you to believe State and 

local governments have the financial resources to take on more of 

this responsibility? 

A.21. As a life-long housing practitioner, I support the goals of 

HOME and CDBG. Many States and some cities have established 

housing trust funds. These communities have decided housing is 

important and have taken the necessary steps to support it. State 

and local governments can eliminate exclusionary and non-valueadded regulations that unnecessarily increase the cost of housing 

and restrict the supply of affordable housing. Reducing regulatory 

barriers will enable Federal investments in the production and 

preservation of affordable housing to extend its reach. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR HEITKAMP 

FROM PAMELA HUGHES PATENAUDE 

Q.1. Wrap Around Services—In past writing, you’ve stated that in 

order to address some of our long term housing needs—particularly 

for older Americans—we need to better integrate health care and 

other supportive services with housing. I share this view and 

strongly believe that we need a more holistic approach to housing 

services in this country. 

130 

During your distinguished career working on these issues, what 

policies and programs have you seen that effectively adopted a holistic approach to housing services? 

A.1. Yes, effective service coordination can improve health outcomes for seniors and has the potential to reduce health care costs. 

There are many locally driven programs like Support and Services 

at Home (SASH) in Vermont that are showing promising results. 

Q.2. What can Congress do to work with HUD to advance these 

types of holistic housing programs? 

A.2. If confirmed, I look forward to working with Congress to develop viable solutions and ways to better account for savings in 

other Federal programs when HUD provides a less expensive service delivery option. 

Q.3. Do you support HUD’s recent hard push toward housing first 

policies, which have put many effective transitional housing facilities at risk of losing funding? 

A.3. Evidence based research demonstrates that a Housing First 

approach is an effective strategy to improve health outcomes for individuals suffering from substance abuse. If confirmed, I pledge to 

work with your office to ensure that the unique needs of your constituents are addressed. 

Q.4. Trauma/Native American Housing—The evidence is clear that 

children who have had four or more adverse childhood experiences—such as living in poverty or facing exposure to physical or 

mental abuse—have a 20 year difference in life expectancy. In 

North Dakota, we see this throughout our Native American communities who are struggling with poor housing conditions, among 

other challenges. 

Will you commit to help design and improve trauma-informed 

policies at HUD and work to address the housing challenges facing 

our Native American communities? 

A.4. If confirmed, I look forward to working with you and members 

of your staff, as well as continuum of care providers, to identify 

specific policy solutions to address the acute needs of domestic violence victims. As I mentioned during my meetings with your staff, 

I would welcome the opportunity to travel to North Dakota to visit 

Indian country and to learn more about the challenges these communities are facing. Working together, I’m confident we can find 

viable solutions to address the unique housing needs of Americans 

living in rural communities. 

Q.5. What role does having a safe, clean and affordable place to 

live play in helping an individual get a job, avoid drugs and crime, 

and become a productive member of society? 

A.5. Safe, stable housing is a critical platform for opportunity and 

the avoidance of despair. 

Q.6. Homeownership Affordability—In an April 2015 article for 

housingwire, you discussed your concerns with the plunge in U.S. 

homeownership rates, which has hovered around 63 percent for the 

past several years. You concluded that due to high student debt, 

tight credit markets and increasing rents millions of families find 

131 

1https://www.huduser.gov/portal/publications/affhsg/srrfl2011.html 

themselves stuck between a rental market they can no longer afford and a homeownership market for which they do not qualify. 

What policies do you recommend to help address this fall in the 

homeownership rate? Do you believe that the CFPB’s qualified 

mortgage rule has significantly contributed to this trend? 

A.6. Regulatory uncertainty has contributed to the decline in the 

homeownership rate. Looking forward, I believe HUD policies 

should stress sustainable and affordable homeownership for credit 

worthy borrowers. Prudent underwriting standards and Housing 

Counseling are critical to achieving sustainable homeownership. 

Q.7. GSE Reform—I’ve asked this question to Secretary Carson 

and I’d like to get your answer as well. Do you believe a Federal 

backstop is necessary to support a 30-year fixed rate mortgage? 

A.7. The current state of the Nation’s housing finance system is 

unsustainable. I believe the Government should assume the catastrophic risk on securities backed by standard, long-term fixed-rate 

mortgages to maintain broad access to sustainable homeownership. 

If confirmed, I look forward to making a meaningful contribution 

to this dialogue. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR 

CORTEZ MASTO FROM PAMELA HUGHES PATENAUDE 

Q.1. President Trump’s FY18 budget proposal includes several legislative proposals aimed at increasing rents on HUD-assisted 

households, especially households in the Section 202 Housing for 

the Elderly, Section 811 Housing for Persons with Disabilities, and 

Project-Based Rental Assistance programs. The budget states that 

existing hardship exemptions would apply, but HUD’s own research 1 has shown that these hardship exemptions have functioned 

poorly, with 82 percent of housing authorities reporting that they 

provided hardship exemptions to less than 1 percent to families 

subjected to minimum rents. Further, HUD has yet to comply with 

a recently passed law (P.L. No: 114–201) requiring the Agency to 

certify to Congress that hardship exemptions are being enforced. 

Do you agree with the policy proposal to experiment on increasing rents on America’s poorest households, especially the elderly 

and persons disabilities, with what little we know about the enforcement of hardship exemptions and during a time when housing 

options are becoming scarcer for the over 11 million households 

rent burdened in this country? 

A.1. I believe Federal rental policies need significant reform. The 

current calculation process is very complicated and I am sensitive 

to the belief that every assisted person should contribute some 

amount toward his or her rent. The policy proposal, I believe includes an ‘‘up to’’ qualifier to provide the Secretary with some flexibility to adjust the impact of this change. Regardless, this proposal 

is a first step toward a holistic reform. If confirmed, I very much 

look forward to working with you on policy reforms. 

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2https://portal.hud.gov/hudportal/documents/huddoc?id=RoadHomeSettlement.pdf 

3http://abcnews.go.com/Politics/video/ben-carson-handle-hurricane-joaquin-34162816 

Q.2. At what rate to you estimate that hardship exemptions would 

be granted pursuant to the rent reform proposals outlined in the 

budget? 

A.2. If confirmed, I commit to working with Congress and stakeholders on any enacted rental reform package. I believe any policy 

change should have a defined process to grant hardship exemptions. The rules should be clear and unambiguous. Thus, once clear 

eligibility standards are established, 100 percent of those eligible 

should be granted an exemption. 

Q.3. Earlier this month, with Senator Rubio from Florida, I sent 

a letter to Secretary Carson regarding a change proposed in the 

President’s 2018 budget as it relates to reverse mortgages. Our letter raised concerns that the President’s budget may imperil widows 

and widowers that seek to continue living in their home after the 

death of their husband or wife. Can you please explain, in detail, 

the rationale for requesting this statutory change, how it might 

interact with existing, related Mortgagee Letters, and any estimated impact on both surviving spouses and the Mutual Mortgage 

Insurance Fund? 

A.3. If confirmed, I look forward to working with you and Senator 

Rubio on this important issue. HUD staff informs me that in 2014, 

to protect the residency status of nonborrowing spouses, HUD 

added safeguards on newly issued reverse mortgages. The April 

2014 Mortgagee Letter 2014-07 extended FHA insurance coverage 

to nonborrowing spouses so the period of time following the death 

of the last surviving mortgagor was further deferred based on the 

continued satisfaction of the requirements for a Nonborrowing 

Spouse. 

As HUD advances changes to stabilize the HECM reverse mortgage program, including those to meet the minimum capital ratio 

goals for FHA budget purposes, I have been assured that none of 

the changes would result in surviving spouses losing their current 

contractual rights to continue to stay in their home as long as they 

continue to stay current on taxes, insurance and reasonably required repairs. 

I am further informed that for those nonborrowing spouses on 

HECM contracts prior to April 2014, borrowers retain the ability 

to refinance to gain the protections included in new HECMs. 

Q.4. In your testimony, you note that as Assistant Secretary for 

Community Planning and Development, you supported HUD’s role 

in the Gulf Coast recovery after Hurricanes Katrina and Rita. As 

you know, HUD’s role in that recovery was controversial. Most significantly, HUD was sued by the NAACP and fair housing advocates over the formula they used to compensate homeowners for 

storm losses. After a lengthy court battle, under the Obama administration, HUD agreed to settle claims of racial discrimination for 

$62 million. 2 During the Presidential campaign, Secretary Carson 

conceded that he wouldn’t know what to do if a hurricane struck. 3

So HUD will be relying on you to ensure the fair and efficient allocation of disaster resources. What was your role in the Road Home 

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4https://www.nytimes.com/2017/05/03/us/politics/ben-carson-hud-povertyplans.html?mcubz=1&lr=0 5http://www.npr.org/2017/05/25/530068988/ben-carson-says-poverty-is-a-state-of-mind 

program, and what lessons did you learn from this episode that you 

would use at HUD, if confirmed? 

A.4. The ‘‘Road Home’’ was the name Louisiana gave its recovery 

program. The State had to create an action plan and submit it to 

HUD for review. The language Congress included in the appropriation that funded this recovery was quite interesting. The Congress 

directed that the Secretary ‘‘shall waive’’ any provision of any statute or regulation that the Secretary administers upon a request by 

the State that such waiver is required to facilitate the use of such 

funds. This was the first time the Congress used the term ‘‘shall’’. 

This ‘‘shall’’ language limited HUD’s involvement dramatically. 

Over the years the Congress rolled ‘‘shall’’ back to ‘‘may’’, so HUD 

has much more involvement in the process than it did under my 

tenure as assistant secretary of Community Planning and Development and I believe this is a good evolution. Congress is still very 

prescriptive when it comes to the allocation of these dollars, but if 

confirmed, I will work to find ways to improve the timeliness of the 

data HUD uses to make the allocation determinations. Louisiana’s 

Road Home program was a very labor-intensive process. It took a 

long time for a recipient to work through that process and that 

slowed recovery down immensely. Many lessons were learned for 

the response to Hurricane Katrina. I would note that disaster recovery is an excellent example of where CDBG is used in a very 

targeted way to produce important results. 

Q.5. Secretary Carson, in his listening tour across the country, has 

suggested that public and affordable housing developments were 

somehow too lavish. 4 And earlier this month in an interview he 

said, ‘‘poverty is a state of mind.’’ 5 I think that views like this can 

make it difficult for seniors, veterans, and people with disabilities 

to have confidence that the leadership at HUD has their best interests in mind. Do you agree with Secretary’s Carson’s views that 

‘‘poverty is a state of mind?’’ 

A.5. Secretary Carson clarified his remarks on this issue. 

Q.6. Federal Housing Administration-backed loans have helped 

millions of Americans attain homeownership, especially first-time 

and minority buyers who may’ve been locked out of other sources 

of credit. FHA insurance also stepped into the void after the private mortgage market collapsed in 2008. 

As Congress contemplates housing finance reform, will you commit to protecting the important role of FHA lending, including its 

low downpayments and affordable premiums? 

A.6. Yes. 

Q.7. To the extent that HUD maintains the Distressed Asset Stabilization Program—which sells off delinquent FHA loans in bulk 

to institutional investors like private equity funds—will you commit to preserving the neighborhood stabilization and borrower protection guardrails put in place in 2016? 

A.7. The department is proud of the efforts made to date in 

strengthening DASP loss mitigation, vacant property, and neighVerDate Nov 24 2008 13:54 Sep 26, 2017 Jkt 046629 PO 00000 Frm 00137 Fmt 6602 Sfmt 6602 L:\HEARINGS 2017\06-06 NOMINATIONS\HEARING\60617.TXT JASON
134 

borhood stabilization elements. If confirmed, I will continue to look 

to improve on this program. 

Q.8. The previous Administration wrote rules to ensure that all 

housing programs at HUD serve people without regard for sexual 

orientation or gender identity. These rules are particularly important for homeless youth, who disproportionately identify as 

LGBTQ. Will you commit to upholding nondiscrimination protections for LGBTQ people seeking housing, particularly homeless 

youth? 

A.8. Yes. 

RESPONSES TO WRITTEN QUESTIONS OF SENATOR SCHATZ 

FROM PAMELA HUGHES PATENAUDE 

Q.1. As deputy secretary of HUD, you would be in charge of implementing HUD’s programs. 

Do you think the Administration’s budget, which proposes to 

slash HUD’s budget by $6.7 billion (a 13 percent cut), would make 

it harder for you to do your job? 

A.1. If the Congress were to enact a reduction at this level, the 

short run issues of redeploying and reallocating staff would increase the operational workload, but in the long run, it could create 

efficiencies. 

Q.2. Given your extensive experience at HUD and knowledge of 

these programs, do you think cuts of this size are a good idea? 

A.2. As a life-long housing practitioner and advocate I’ve seen the 

positive outcomes these programs can achieve. If confirmed, I look 

forward to working with Congress to create viable solutions to address the changing housing and community development needs of 

our Nation. 

Q.3. Do you think the President’s budget would increase or decrease the availability of affordable housing? 

A.3. If the Congress were to appropriate funding at the proposed 

levels, it would take time for the current level of unobligated budget authority to spend down. 

Q.4. Do you think the Federal Government should continue to fund 

programs to reduce homelessness and provide affordable housing? 

A.4. Without question. The Federal Government should continue to 

fund programs to reduce homelessness, particularly among at-risk 

youths and veterans, and continue to support funding for affordable 

housing for our most vulnerable populations, including low-income 

seniors and persons with disabilities. 

Q.5. In your experience, do you think that it is realistic to assume that State and private funds can make up for a loss of $6.7 billion 

in Federal funding? 

A.5. It would take time for currently appropriated funds to spend 

down, but it would also take time for States to adjust their budgets 

to reallocate their resources for this purpose. Some States have a 

2-year budget process. Likewise, I think it would take some time 

to ramp up private sector and philanthropic participation. 

135 

Q.6. The budget proposes cutting the rental assistance program by $2 billion through ‘‘policies that encourage work and self-sufficiency, including increases to tenant rent contributions.’’ Do you agree that the Federal Government should shift $2 billion 

of the cost of subsidized housing on to the low-income families that 

the program is supposed to serve? 

A.6. I believe rent reform is a discussion worth having. 

Q.7. Do you think that increasing the cost burden for low-income 

families will help them achieve greater self-sufficiency? 

A.7. There is certainly evidence that it can happen. 

Q.8. Many of the proposed cuts in the President’s budget are intended to pay for tax cuts for corporations and wealthy taxpayers. 

Do you think it is fair to make low-income families pay $2 billion 

more for housing in order to pay for these tax cuts? 

A.8. I am only familiar with the broad principles of any proposed 

tax reform. 

Q.9. I am troubled that Secretary Carson believes that public housing creates a culture of dependency and that poverty is a ‘‘state of 

mind.’’ The evidence demonstrates just the opposite-stabilizing 

housing for low-income families is very effective in lifting families 

out of poverty. 

In your prior experience at HUD, did you find that HUD’s affordable housing programs created a culture of dependency? 

A.9. I am sure examples of how HUD programs can create dependency and as a platform for opportunity can both be documented. 

Q.10. Do you agree or disagree with Secretary Carson’s belief that 

poverty is a ‘‘state of mind?’’ 

A.10. Secretary Carson clarified his remarks in recent press interviews and before the Senate and House appropriations committees. 

136 

ADDITIONAL MATERIAL SUPPLIED FOR THE RECORD

LETTERS SUBMITTED IN SUPPORT OF THE NOMINATION OF KEVIN 

ALLEN HASSETT 


60617201.eps
137 


60617202.eps

Gregory Roberts 

District Administrator District #3 

Washington DC little leagues 

Shannon Settle 

President 

Southern District little league 

Supreme Aquil 

President & Founder 

Banneker City Little league 

Mike Barbara 

President 

DC Grays Baseball 

Keith Barnes 

President & Founder 

Mamie Johnson little league 

Coach Corey A. Jordan 

Founder, Southern District little League 

ADA of Intermediate I Juniors Baseball, 

MD District 3 Little League 

Team Manager, DC Grays RBi lSU and 18U 

Teams 

Harry Thomas, Jr. 

DC USA Softball Representative 

Team Manager, DC Grays RBI Softball 

Paul Donnellan 

Past President 

Northwest Little League 
138 


60617203.eps

June 5, 2017 

The Honorable Michael Crapo 

Chainnan 

Committee on Banking, Housing, and 

Urban Affairs 

United States Senate 

239 Dirksen Senate Office Building 

Washington, DC 20510 

The Honorable Sherrod Brown 

Ranking Member 

Committee on Banking, Housing, and 

Urban Affairs 

United States Senate 

713 Hart Senate Office Building 

Washington, DC 20510 

Dear Chainnan Crapo and Ranking Member Brown, 

We are writing to support the nomination of Kevin Hassett to be Chainnan of the Council of 

Economic Advisers. The signers of this letter come from diverse backgrounds, and many of us 

have served in Democratic and Republican Administrations. While we disagree on many issues, 

as economists we all agree that the Nation would be well served if Kevin Hassett is confirmed as 

Chainnan of the Council of Economic Advisers. 

The Council of Economic Advisers plays an important role in providing the objective economic 

advice that the President needs to address our nation's economic challenges. While the signers of 

this letter hold a range of views on President Trump's policies, we all believe that the 

formulation of economic policy would be advanced by the analysis and advice that Dr. Hassett 

would bring to the table. · 

Dr. Hassett has a record of serious scholarship on a wide range of topics, including tax policy, 

business investment, and energy. He has engaged on an even wider range of topics in the public 

policy debate and in his work at the Federal Reserve and as a consultant to the Department of the 

Treasury during the Administrations of President George H.W. Bush and President William J. 

Clinton. In addition, we appreciate that Dr. Hassett has consistently made an effort to reach out 

to a wide range of people from across the ideological spectrum both to promote economic 

dialogue and to collaborate on research and public policy proposals. 

For all of these reasons we believe that Dr. Hassett would be an excellent choice for Chairman of 

the Council of Economic Advisers and urge the Committee to move as expeditiously as possible 

to ensure that the Administration has the benefit of his economic advice. 

Sincerely, 

Alan J. Auerbacb 

Robert D. Burch Professor of Economics 

and Law and Director, Burch Center for Tax 

Policy and Public Finance 

University of California, Berkeley 

Martin N. Baily 

Bernard L. Schwartz Chair in Economic 

Policy Development and Senior Fellow in 

Economic Studies 

The Brookings Institution 
139 


60617204.eps

Dean Baker 

Co-Director 

Center for Economic and Policy Research 

Robert J. Barro 

Paul M. Warburg Professor of Economics 

Harvard University 

Ben S. Bernanke 

Distinguished Fellow in Residence, 

Economic Studies 

The Brookings Institution 

Jared Bernstein 

Senior Fellow 

Center on Budget and Policy Priorities 

Alan S. Blinder 

Gordon S. Rentschler Memorial Professor of 

Economics and Public Affairs 

Princeton University 

Michael J. Boskin 

T.M. Friedman Professor of Economics and 

Senior Fellow, Hoover Institution 

Stanford University 

Arthur C. Brooks 

President 

American Enterprise Institute 

John H. Cochrane 

Senior Fellow, Hoover Institution 

Stanford University 

KarenDynan 

Nonresident Senior Fellow 

Peterson Institute for International 

Economics 

Janice Eberly 

James R. And Helen D. Russell Professor of 

Finance 

Northwest~m University, Kellogg School of 

Management 

2 

Douglas W. Elmendorf 

Dean and Don K. Price Professor of Public 

Policy 

Harvard University, John F. Kennedy 

School of Government 

Martin S. Feldstein 

George F. Baker Professor of Economics 

Harvard University 

Jason Furman 

Senior Fellow 

Peterson institute for International 

Economics 

William G. Gale 

Arjay and Frances Miller Chair in Federal 

Economic Policy and Senior Fellow in 

Economic Studies 

The Brookings Institution 

Ted Gayer 

Vice President and Director of the Economic 

Studies Program and Joseph A. Pechrnan 

Senior Fellow 

The Brookings Institution 

Austan D. Goolsbee 

Robert P. Gwinn Professor of Economics 

University of Chicago, Booth School of 

Business 

Alan Greenspan 

President 

Greenspan Associates LLC 

Robert E. Hall 

Robert and Carole McNeil Joint Senior 

Fellow, Hoover Institution and Professor of 

Economics 

Stanford University 

Douglas J. Holtz-Eakin 

President 

American Action Forum 
140 


60617205.eps

R. Glenn Hubbard 

Dean and Russell L. Carson Professor of 

Finance and Economics 

Columbia University, Graduate School of 

Business 

Randall S. Kroszner 

Nonnan R. Bobins Professor of Economics 

University of Chicago, Booth School of 

Business 

Alaa B. Krueger 

Bendheim Professor of Economics & Public 

PoliCy 

Princeton University 

Edward P. Lazear 

Morris Arnold Cox and Nona Jean Cox 

Senior Fellow, Hoover Institution and 

Davies Family Professor of Economics 

Stanford University 

Lawrence Lindsey 

President and Chief Executive Officer 

The Lindsey Group 

N. Gregory Mankiw 

Robert M. Beren Professor of Economics 

Harvard University 

Donald B. Marron 

Director of Economic Policy Initiatives and 

Institute Fellow 

The Urban Institute 

Peter R. Orszag 

Vice Chairman and Managing Director 

Lazard 

Adam S. Posen 

President 

Peterson Institute for International 

Economics 

3 

James Michael Poterba 

Mitsui Professor of Economics 

Massachusetts Institute of Technology 

Christina D. Romer 

Class of 1957·GarffB. Wilson Professor of 

Economics 

University of California, Berkeley 

Harvey S. Rosen 

John L. Weinberg Professor of Economics 

and Business Policy 

Princeton University 

CedUa Elena Rouse 

Dean and Lawrence and Shirley Katzman 

and Lewis and Anna Ernst Professor in the 

Economics of Education 

Princeton University, Woodrow Wilson 

School of Public and International Affairs 

Jay C. Shambaugh 

Professor of Economics and International 

Affairs 

George Washington University 

Robert J. Shapiro 

Co-founder and Chainnan 

Sonecon, LLC 

Betsey Stevenson 

Associate Professor of Public Policy; 

Associate Professor of Economics 

University of Michigan, Gerald R. Ford 

School of Public Policy 

Michael R. StraiD 

Director of Economic Policy Studies and 

Resident Scholar 

American Enterprise Institute 

James H. Stock 

Burbank Professor of Political Economy 

Harvard University 
141 


60617206.eps

Phillip Swagel 

Professor 

University of Maryland 

Jobn B. Taylor 

Mary and Robert Raymond Professor of 

Economics and George P. Shultz Senior 

Fellow in Economics, Hoover Institution 

Stanford University 

Laura D. Tyson 

Distinguished Professor of the Graduaie 

School 

University of California, Berkeley, Haas 

School of Business 

Justin Wolfers 

Professor of Economics and Professor of 

Public Policy 

University of Michigan 

Mark M. Zandi 

Chief Economist 

Moody's Analytics 

Affiliations listed for identification purposes 

only and do not necessarily reflect the views 

of the organizations listed. 

4 
142 

LETTERS SUBMITTED IN SUPPORT OF THE NOMINATION OF PAMELA 

HUGHES PATENAUDE 


60617056.eps

P,P.Ut.p 

~Lplryr.d.loc. 

-Thkl<• lc.plt~U.C 

Jtl"'fA'«'IIiooJ 

Oc!aalt.oo<Ad<ion.lo<. 

....... tGoW.a l<eoo ....... W 

I 

v ..... Lipld.-

Hand Drlivm 

May25.2017 

Tbt Hononble Michael D. Crapo. Cbaill1131l 

Tbt Honorable Shcnod Brol\11. Rankin.g Member 

Commillff on Banking. HOILiing and Urban Affairs 

534 Dirkscn Senate Offace Building 

Washington. DC 2051~75 

RE: Nomjrnujon of Panacla H. Patenaude ps Deou!y St-crewy of the 

Drnartrnenl of Housing and Urban Developmcm 

Tbt AITO!d3hlc liMing Ta.~Cmlit Coalitioo("AHTCC') isplras:d to 

write this leiter in suppoll of tbr nominatioo or Pamela ll Patenmle to 

be thr Deputy Sreretnry of tbr Depattment of I lousing and Urban 

Del'elopment. AIITCC is a national trade Ol)lanil.ation, headquanered in 

Washington. DC, whose nacmbers are participants in the low-income 

housing tax credit ("'llousing Credit") industry and whose primary 

mission is to advocate for tbr preservation. expansion and impro\-ement 

of thr Housing Credit program. The undersigned is tbr Chaill1131l 

Emeritus of the AHTCC and is President and CEO of CREA. LLC. a 

national Housing Credit syndicator based in Indianapolis. Indiana. 

Although I IUD does not administer the Housing Credit program, much 

of the multifamily housing financed. operated or assisted by HUD has 

been and will continue to be de\-eloped. presen·ed and renovated by the 

financing made available under the I lousing Credit progrum. The 

housing and oommWlity de\·elopment programs adminiStered by HUD 

are often used in conjunction \\ilh thr Housing Credit. Acoordingly, we 

belie\·e it is ''el1' imponant for the senior leadership ofHUD to have a 

good understanding of how tbr Housing Credit and ltUD programs can 

and sl!ould wort togctbrr in Older 10 ma.~imilt tbr efTecth= of each 

of these programs. We belie\eSirotlg)ytbat ~U. Patenaude bas that 

kno\\ledge and experience. 

Ms. Patenaude has a lengthy and impressive record in hoosing. 

community development, real estate and public policy. In her current 

position as President of the J. Ronald Ternilliger F01111dation and her 

prior position $$ Director of Housing Polj(y for the Bipartisan Policy 

Center. she has 1 ketn underslllnding of the affordable housing crisis 

t909 K S<r«~ N\'t: t 2* Floor • W>Jhlng<OCI, DC 20006 Td<phon<l02-661·i69S Fox l02-66l-2l99 tnfo@wr...li«<>olition"'ll 
143 


60617057.eps

facing our nation and the role that the I lousing Credit and HUD programs can play in ad~ing 

that crisis. She ~i1.es the need for both low-ineome and workforce housing. from her 

position as an Assistant Secretary ofHUD during the George W. Bush Administration. she has 

firsthand knowledge of bow HUD functions and the manner in which national housing policy is 

made. We have confidence that her prior 11UD experience 11ill gh·e her great perspettive on 

ways in which HUD can improve iu delil-ery of serl'ices on behalf of the taxpayers. A number 

of our members have wod;ed in 1-arious capacities 11ith Ms. Patenaude throughout her career and 

report to me that they have great respect and admiration for her. bolh professionally and 

personally. 

The Affordable Housing Tax Credit Coalition believes that Ms. Patenaude is an outstanding 

choice for Deputy Secretary of liUD and we enthusiastically suppon her nomination for that 

position. 

Should you have any questions. please feel free to contact AlffCC" s counsel. Richard S. 

Goldstein at (202) 585-mO or _ ~dst, nj). ~171

Thank you for your consideration of our 1icws. 

Very truly yours. A. I '' 

\Xt· 1 /-._..-. 

kiT~· A. Whiting 

Chtirman Emeritus 
144 


60617058.eps

JuneS, 2017 

AM ERICAN 

LAND TITLE 

ASSOCIATION 

Senate Committee on Banking. Housing. and Urban Affairs 

Senator Mike Crapo, Chairman 

Senator Sherrod Brown, Ranking Member 

Distinguished Senators, 

The over 6,000 member companies of the American Land Title Association 

are encouraged by the nomination of Pam Patenaude as Deputy Secretary for the 

Department of Housing and Urban Development Her experience in housing poticy 

and commitment to public service should bring critical viewpoints to inform HUD's 

mission. 

ALTA and its members look forward to working with Ms. Patenaude to 

promote policies that wUI strengthen the nation's housing. provide consumers peace 

mind when buying a home and ensure all consumers looking to purchase a home 

have access to affordable credit We look forward to working with her to ensure that 

HUD, the Feder.~ I Housing Administr.ltion and Ginnie Mae can continue to play a 

vital role in supporting American communities through homeownership. We wish 

Ms. Patenaude great succ~ss In this role. 

Sincerely 

-1"~ 

Michelle K. Korsmo 

Chief Executive Officer 

American Land Title Association 

1800 M Street, 1'\W • Suite 3005 • Washington, D.C. 20036·5828 

p. 202.296.3671 • I. 202.223.5843 • se~VictOalta.O<g • "''"v.a1ta.O<g 
145 


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1 / \ CUEJIAfiKG If FUli 

1 \..1 BIPAITrSAN POLICY CEIITT.R 

May 24, 2017 

The Honorable Mike Crapo 

Chairman 

Senate Committee on Banking, Housing 

and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

The Honorable Sherrod Brown 

Ranking Member 

Senate Committee on Banking, Housing 

and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

Dear Chairman Crapo and Ranking Member Brown, 

It is with pleasure that we write to you in support of Pamela Hughes Patenaude as the 

nominee for the Deputy Secretary of the US Department of Housing and Urban 

Development. As co-founders of the Bipartisan Policy center, we have personally 

witnessed Pam's commitment to advandng sound housing policies in America. 

As the director of the BPC Housing Commission, Pam brought together a diverse group 

of national housing experts to review our nation's housing polides in the wake of the 

financial crisis. After a 16 month examination of the key issues in housing, the BPC 

Housing Commission issued a l:iueprint for a new housing finance system. The 

commission also proposed an outcome oriented approach to the distribution of federal 

rental subsidies that respond to the needs of our nation's most vulnerable citizens. 

Pam has devoted her professional career to housing and community development 

where she has worked at the local, state and federal levels of govemment as well as 

the private and nonprofit sectors. These experiences have enabled Pam to develop a 

unique ability to view housing challenges from a big picture strategic lens. 

We are confident Pam possesses the necessary skills and experience to help Secretary 

carson carryout the mission of the US Department of Housing and Urban Development. 

Thank you, 

George Mitchell Bob Dole 

Celebrating ten years of productive partisansbip . 

barw l't ,o, 4 • .iP 8 tl'lO W '" ' 20005 
146 


60617060.eps

june!, 2()17 

The Honorable Micllael Crapo 

Chairman 

Senate Commitlee on Banking, Housing 

and Urban Affairs 

U.S. Senate 

Washington. DC20510 

The Honorable Sherrod Brown 

Ranking Member 

Senate Committee on Banking, Housing 

and Urban Affairs 

U.S. Senate 

Washington, DC 20510 

Dear Chainnan Crapo and Ranking Member Brown: 

On behalf of the Corporation for Enterprise Development (CFED), 1 am writing to express 

our strong support for the nomination of Pam Patenaude to be the next Deputy Secretary of 

the Department of Housing and Urban Development (HUD). CFED is a national, 

nonpartisan nonprofit organization based in Washington, D.C. that works to expand 

economic opportunity for all Americans by promoting and advocating asset-building 

polides and programs. CFW believes that many HUO programs, such as the Family Self· 

Sufficiency program, homeownership counseling, the Federal Housing Administration and 

other agency programs are fundamental to improving the finandal well-being of families 

across the country. CFED believes that Ms. Patenaude has shOIVn a commitment to building 

up communities throughout our country and urges the Committee to approve the 

nomination as quickly as possible. 

Ms. Patenaude has demonstrated that she is qualified to help lead and manage HUD's dayto-day operations, through her decades of housing experience at the). Ronald Terwilliger 

foundation, the Bipartisan Policy Center, the Urban land Institute, and her various roles at 

HUD. Ms. Patenaude can help the agency build consensus and guide the department to 

improve our nation's housing stock and Mlp communities prosper. CFED believes that Ms. 

Patenaude will be a leader in developing and supporting bipartisan policy solutions to 

address America's affordable and homeownership crises, and advance ways to improve the 

finances of residents who rely on HUO. 

CFED is confident that Ms. Patenaude is an excellent choice for Deputy Secretary of HUO. 

CFED looks forward to working with Ms. Patenaude and HUO upon her confirmation to 

ensure that all communities across America continue to receive the wealth building tools 

they need. 
147 


60617061.eps

May11,2017 11 ;22 '" ,. ~ 

The Honorablt Mkhae!Gapo 

Olairman. U.S. Smale Commillce on Bankiny, Housing, and Urllan Affairs 

534 Dirksen Scnat~ Office Building 

1\'asllin&ton. DC 20510 

The Honorable Sherrod Brown 

cleveland 

housing network 

2mpor"'MM 

:l'llaor 

-ali:l~ 

J 216.5141100 

I li6S1471l0 

Ranking Ml'lllber, U.S. Senat~ Committee on Banking. Housing. and Urban Affairs 

534 Did:sen Smale ()(fief Building 

Washington, DC 20510 

Dfar Olainnan Gapo and ~Member Brown: 

I am writing to ~xpress my 5trong support for the nomination of Pamela Patenaude to Sl'rve as 

the ne.xt Oepuh· St>l:l'l'tary of the U.S. Dfpartment of Housing and Urban Development (HUD). 

Ms. Pdtenaude possesses the intelligem, good judgmen~ leedership qualities, and 

communications sl:ills to be an outstanding 0\>puty Secretary at Hl.iD.I urge the t:nited States 

Smale to swiftly ronfum her nomination. 

The current situation in housing is rompletelv unacn>ptabF. Today, more than II million 

families devote in excess of 50 pen.'l'lll of their incomes just to rent. A 5e\'m shortagt' of ll!llW 

homes affordable to the lowest·lncome lamilies is the primary rulprit behind these high 1'1'111 

~ 

burdens. The national homeowlll'rship rate has also declined precipitously- the result of waS" 

.tory po1i:ies, student loan debt. and high rents that mal:t it di.ffj:u}tto 

accumulate funds for a down raymenl Millions of creditworthy famili<'s seeking to pu.rdlase a 

home for the first time lll'l' today unable to realize their dl'l'am of homeowrership. 

~Is. Patenaude's pmious expeMice at HUD willsm-e her"'tll in this new role and will 

enable Ht:D to be even mol'l' I'I'Sponsl\'e to these sevel'l' housing needs. He recent work as 

president ol the). Ronald Terwilliger Foundation for Housing Amerka's Families and as 

director of housing policl' for the Bipartisan Policy Center ha\'t broadall'd her l:nowlrogt' of 

the problem and inno\-ative housing solutions. Om confirmed. I look forward to working 

closely with her and the HUD team to help meet America's pi'I'SSing housing needs. 

chnnetcom 
148 


60617062.eps

* MOfn•a•• L IM OIJl e 

JuneS, 2017 

The Honorable Michael Crapo 

Chairman 

U.S. Senate Committee on Banking, Housing and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

The Honorable Sherrod Brown 

Ranking Member 

U.S. Senate Committee on Banking, Housing and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

Dear Mr. Chainnan and Ranking Member: 

The Community Mongage Lenders of America (CMLA), a trade association for 

independent, community-based residential mortgage lenders is writing in 

suppon of the nomination of Pamela H. Patenaude as Deputy Secretary of 

the Department of Housing and Urban Development 

CMLA members serve the housing finance needs of consumers through the 

origination of FHA-insured, VA and Rural Housing Administration 

guaranteed loans as well as conventional mongage loans. Most of CMI.A's 

member companies are management or family-owned and consist of 

mortgage banking companies and community banks. 

We look forward to working with Ms. Patenaude to modernize, reform and 

strengthen the FHA single family mortgage insurance program in order to 

maintain its focus on serving low, moderate-income, first·time and minority 

home buyers. Virtually all of our members are active participants in the FHA 

single family mortgage insurance program and we are proud of the fact that 

1629 K Street, NW, Su~e 300, Washington, DC 20006 
149 


60617063.eps

the market share of small and mid-size independent lenders in the FHA 

program has grown significantly over the past several years. 

We are also proud of the fact that commensurate with this growth in market 

share, the credit quality of the loans insured by FHA, as demonstrated in the 

Neighborhood Watch data base, are the best they have been since the 

inception of the data base some 19 years ago. Working with Ms. Patenaude, 

Secretary Carson and their team we are confident we can build upon the 

successful role small and mid-size independent lenders have played in the 

FHA mortgage insurance program to achieve even greater success in 

servicing the mortgage fmancing needs of American consumers. 

Several of our members are active issuers in the ONMA mortgage backed 

security program. We are ready to work with Ms. Patenaude, Secretary 

Carson and the individual nominated to serve as President of ONMA to 

strengthen and modernize the GNMA program as well. 

Based on Ms. Patenaude's leadership at the Bipartisan Policy Commission, the 

J. Ronald Terwillinger Foundation and the Urban Land Institute, as well as her 

outstanding work as Assistant Secretary of Community Planning and Development 

at the Department of Housing and Urban Development we believe she will work well 

with Secretary Carson and the HUD team. We are confident she recognizes the 

importance, and welcomes the active participation, of mid-size and small 

community-based lenders in serving the mortgage financing needs of Americans 

through both the FHA mortgage insurance program and the ONMA mortgage-backed 

security program. 

Thank you for this opportunity to comment upon Ms. Patenaude's 

nomination. We would be pleased to answer any questions you or your staJT 

might have or to provide additional information. 

Sincerely, 

Glen S. Corso 

Executive Director 

1629 K Street, NW, Su e 300, Washington, DC 20006 
150 


60617064.eps

The non-profit association represenbilg the officials prrNidi!lg affordable housing in flofida. 

June 2, 2017 

The Honorable Mike Crapo, Chairman 

The Honorable Sherrod Brown, Ranking Member 

U.S. Senate Committee on Banking, Housing, and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, D.C. 20510 

Dear Chairman Crapo & Ranking Member Brown: 

It is indeed an honor to write on behalf of the Florida Association of Housing and Redevelopment 

Officials (F AHRO) to recommend the confirmation of Pamela Hughes Patenaude as Deputy Secrewy 

of the U.S. Depanment of Housing and Urban Development (HUD). 

As !he association representing Florida's public housing agencies, charged with providing clean, safe, 

and affordable housing to our state's most vulnerable populations, v.<e need panners at HUD who have 

the first-hand experience of implementing the policies of Washington. Ms. Patenaude not only has that 

experience, but also that of both the public and non-profit sectors, which makes her uniquely qualified to 

assist Secretary Carson in evaluating and recommending policies and seeking innovations for the 

betterment ofHUD's ponfolio of programs and services. 

As public housing agencies, our mem~rs have faced persistent declining appropriations and increasing 

regulations, burdening them to the breaking point - threatening our critical mission to serve those 

families among us who are most at risk for homelessness. Ms. Patenaude's career of experience and 

dedication to housing America's families makes her an ideal candidate to usher through critical policy 

changes that will enable housing agencies to do what we do best: innovate solutions to our national 

housing crisis 

Thank you for consideration of our recommendations, and please do not hesitate to contact me at 

850/222~ if we can be of any funher assistance. 

R~tfully, 

Executive ~ Director 

1390 limberlane Road ·Tallahassee, FL 32312 · 850/222-6000 · FAX 850/222-6002 · www.FAHRO.org 
151 


60617065.eps

~~~ E . 1 i nterpnse· 

May 16,2017 

The Honorable Mike Crapo 

Chairman of the Senate Banking Committee 

239 Dirksen Senate Office Building 

Washington, DC 20S10 

The Honorable Sherrod Brown 

Ranking Member of the Senate Banking Committee 

713 Hart Senate Office Building 

Washington, DC 20510 

Re: Support for the Nomination of Pamela Patenaude as Deputy Secretary of HUD 

Dear Chairman Crapo and Ranking Member Brown: 

On behalf of Enterprise Community Partners, I am writing in support of the nomination of 

Pamela Patenaude to be Deputy Secretary of the U.S. Department of Housing and Urban 

Development (HUD). We have worked closely together for many years and I can say without 

hesitation that Pam's deep understanding of affordable housing challenges and remarkable 

expertise make her an exemplary choice for the position. 

Pam's nomination comes at a critical time, when America is struggling with a growing shortage 

of affordable homes. Her extensive experience in housing policy- including as a former 

adviser to Presidents Ronald Reagan and George W. Bush, director of hou.sing policy at the 

Bipartisan Policy Center and president of the J. Ronald Terwilliger Foundation for Housing 

America's Families- will enable her to hit the ground running, immediately improving HUD's 

ability to strengthen communities nationwide. And as a former assistant secretary at HUO, Pam 

has a deep understanding of the agency's core programs and strong relationships in the field. 

Pam recognizes that investments in quality, affordable homes must be a part of America's 

economic agenda, and she is a long· time supporter of bipartisan solutions who draws on and 

builds support for good ideas, wherever they are found. I am confident that if confirmed, Pam 

will work with state and local governments and private industry to enable HUD funds to 

leverage private investments to increase opportunity in communities across the country. 

If you have any questions or would like to discuss my experiences working with Pam, please 

contact me directly at tludwig@enterprisecommunity.org or 212·284-7178. 

Sincerely, 

Terri Ludwig 

President & Chief Executive Officer 

Enterprise Community Partners, Inc. 

EtmRPffS£ 

IOGSlr""):f. &D~SSO • W<<lwljlai. OCl1002 • 20Uil.919J '""~""""""" ry.ora • ''" 'Y·""" 
152 


60617066.eps

The non-profit association represenbilg the officials prrNidi!lg affordable housing in flofida. 

June 2, 2017 

The Honorable Mike Crapo, Chairman 

The Honorable Sherrod Brown, Ranking Member 

U.S. Senate Committee on Banking, Housing, and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, D.C. 20510 

Dear Chairman Crapo & Ranking Member Brown: 

It is indeed an honor to write on behalf of the Florida Association of Housing and Redevelopment 

Officials (F AHRO) to recommend the confirmation of Pamela Hughes Patenaude as Deputy Secrewy 

of the U.S. Depanment of Housing and Urban Development (HUD). 

As !he association representing Florida's public housing agencies, charged with providing clean, safe, 

and affordable housing to our state's most vulnerable populations, v.<e need panners at HUD who have 

the first-hand experience of implementing the policies of Washington. Ms. Patenaude not only has that 

experience, but also that of both the public and non-profit sectors, which makes her uniquely qualified to 

assist Secretary Carson in evaluating and recommending policies and seeking innovations for the 

betterment ofHUD's ponfolio of programs and services. 

As public housing agencies, our mem~rs have faced persistent declining appropriations and increasing 

regulations, burdening them to the breaking point - threatening our critical mission to serve those 

families among us who are most at risk for homelessness. Ms. Patenaude's career of experience and 

dedication to housing America's families makes her an ideal candidate to usher through critical policy 

changes that will enable housing agencies to do what we do best: innovate solutions to our national 

housing crisis 

Thank you for consideration of our recommendations, and please do not hesitate to contact me at 

850/222~ if we can be of any funher assistance. 

R~tfully, 

Executive ~ Director 

1390 limberlane Road ·Tallahassee, FL 32312 · 850/222-6000 · FAX 850/222-6002 · www.FAHRO.org 
153 


60617067.eps

&HAwAIIAN 

1\ COMMUNITY --i SSETS 

May 19,2017 

The Honornble Michael Crnpo 

Cbainnan 

Senate Committee on Banking, Housing 

and UJban Affairs 

U.S. Senare 

Washington, DC 20510 

Dear Chainnan Crnpo and Ranking Member Brown: 

200 North Vineyard Boulevard, A300 

Honolulu, HI 96817 

Ph: SOS-587-7886 

Ton Free: 1-866-400-1116 

www.hawaiiancommunity.net 

The Honornble Sherrod Brown 

Ranking Member 

Senaae Committee on Banking, Housing 

and Urban Affairs 

U.S. Senale 

Washington, DC 20510 

On behalf of Hawaiian Community Assets (HCA) I am writing to express our Sirong support for the 

nomination of Pam Patenaude to be the next Deputy Secretary of the Department of Housing and UJban 

Development (HUD). 

HCA is the Stale of Hawaii's l31geS1 HUI).approved housing counseling agency serving 1,500 fumilies 

and 1.000 children 1\ith free financial education, housing counseling, and asset building programs each 

year. Since 2000, our organization bas pro,1ded services and products through our statC\11de offices 

ba11ng assisted 5,828 1ow· and moderale-income children and adults obtain rentals, purehase hooles, or 

prevent foreclosure. 

HCA believes that Ms. Patenaude's 34 years of e~'jiCricnee in affordable housing, both in the public and 

private sectors, makes her an ideal candidate for the position of Deputy Seeretaiy. Her wodc with HUD 

dates back to 1984 when she served as White House Liaison to the office of the HUD Secretary and 

Special AssiSiant for the Office of Mulrifumily Housing. Over the years, Ms. Patenaude's leadership 

roles \\1thin HUD and at the l. Rooald Tenvilliger Foundation, the Bipartisan Policy Center, and the 

UJban Land Institute demonSilate her ability to manage the day~o-day operntions of HUD. She is a 

thoughtful housing leader who will build consensus and help guide the depar1mentto improve our 

nation's housing stock and help communities prosper. I believe Ms. Paienaudc \\ill continue to support 

bipartisan policy solutions to address America's shortage of affordable housing and the residents that rely 

on HUD to support safe and suppollive places to live. 

In closing, HCA supports Ms. Paienaude to sen-e as Deputy Secretary of HUD based on her proven 

leadership, e~1ensh<e e.~perienee, and commitment to affordable housing for all Americans. Thank you 

for the opportunity to share our O~&aDiwion s support. 

Sincerely, 

Jeff Gilbreath 

Executive Director 

~Building Fouod.Jtioos for Future G .. encions" 
154 


60617068.eps

Homes 

for America 

llOtl·pront boutin&: 

development 

Kathy Ebner Prtsidtlll & C£0 

Board orDirectors 

TrudyMtFaU 

a..;,_&.CIHC<ullkr 

Michael Bodakeo 

Bradley J. Fenntll 

Dennis M. Conti 

Charles L. Edson, Eslj. 

Mary Grm Folwell 

James 1. Humphrey, Jr. 

ThoiDliS Lanll 

Ricbard L. Mostyn 

List J. Yaffe 

*** 

318 Sixth Street 

Annapolis, MD 

21403 

4t0·269-t222/tel 

4t0-269-t479/fax 

""'W.btiiKfonmtrltufl 

Via Electronic Mail 

May 17,2017 

The Honorable Mike Crapo 

Olainnan Committee on Banking, 

Housing and Urban Affairs 

239 Dirksen Senate Office Building 

Washington, DC 20510 

The Honorable Richard Shelby 

The Honorable Bob Corker 

The Honorable Patrick J. Toomey 

The Honorable Dean Heller 

The Honorable lim Scott 

The Honorable Ben Sasse 

The Honorable Tom Cotton 

The Honorable Mike Rounds 

The Honorable David Perdue 

The Honorable Thorn Tillis 

The Honorable John Kennedy 

The Honorable Sherrod Brown 

Ranking Member, Committee on 

Banking, Housing and Urban Affairs 

713 Hart Senate Office Building 

Washington, DC20510 

The Honorable Jack Reed 

The Honorable Robert Menendez 

The Honorable Jon Tester 

The Honorable Mark R. Warner 

The Honorable Elizabeth Warren 

The Honorable Heidi Heitkamp 

The Honorable Joe Donnelly 

The Honorable Brian Schatz 

The Honorable Chris Van Hollen 

The Honorable Catherine Cortez Masto 

Dear Chainnan Crapo, Ranking Member Brown and Members of the Senate Banking 

Committee: 

We are writing to Cl(press strong support for the nomination ofPamela Patenaude to serve as 

Deputy Secretary of lhe U.S. Department of Housing and Urban Development (HUD). Due 

to ber extensive Cl(fCrienee in lhe public, private and philanthropic sector, Ms. Patenaude will 

be an outstanding Deputy Secretary. We urge lhe United Slates Senate 10 quickly confiiDl her 

nomination. 

Our country is in dire need of more affordable housing. One in four families spend more than 

half of !heir monthly income on rent. The challenges will iocrease in the ooming decade as 

the population ages. Ms. Patenaude brings a level of expertise and commitmenl to the Deputy 

Secrelary position !hat will enable her 10 quickly and efficien1ty identify solutions and work 

in partoei'Ship across all seclors. 

We look forward 10 Ms. Palenaude's leadership ofHUD and respectfully urge your support 

of her nomination. 

·~ ~~ President and CEO 
155 


60617069.eps

~ Housing Assistante Coundt 

HAC 102S VormootA....,., IN/, Suite606, Wasl'ington, DC 2000S, Tel: 202~2-&100, Fax: 202·347·3441,11A(0ntalliome.ol9 

Cbainnan Mike Crapo 

U.S. Senate 

Committee on Banking, Housing, & 

Urban Development 

534 Dirtsen Senate OffiCe Building 

Washington, D.C. 20510 

May25,2017 

Wfl> site: www.ruralhomt.otV 

Ranking Member Sherrod Brown 

U.S. Senate 

Committee on Banking, Housing. & 

Urban Development 

534 Dirksen Senate Office Building 

Washington, D.C. 20510 

Dear Chairman Crapo and Ranking Member Brown: 

The Housing Assistance Council (HAC) sup~ the nomination of Pam Patenaude to ser~e as 

the Department of Housing and Urban Development's (HUD) Deputy Secretlly. Throughout her career, 

Ms. Patenaude has demonstrated an understanding of the housing sector from various perspectives. And 

she has earned a reputation among industry stakeholdm for her even-banded approach in bringing forth 

solutions to housing challenges. 

Particularly nouble to HAC and our rural partners across the countty is Ms. Patenaude's 

understanding of rural housing. In her previous stint at HUD, Ms. Patenaude's portfolio included the 

Home Investments Partnership Program (HOME), Community Development Block Grant (CDBG~ and 

Self-Help Homeownership Opportunity (SHOP) programs, all of which are critical tools to providers of 

rural affordable housing. 

In her role as Director of Housing Policy at the Bipartisan Policy Center, Ms. Patenaude oversaw 

the "Housing America's Future: New Directions for National Policy" repo!1, which included a chapter 

focused on "The Importance of Rural Housing". The inclusion of rural housing in this report was wellreceived by rural housing stakeholders, as it highlighted both the importance and uniqueness of rural 

housing challenges and opportunities. Ms. Patenaude also provided a forum for discussion of rural 

multifamily housing challenges during her tenure at the Bipartisan Policy Center. 

Housing needs in rural and tribal communities are pressing. HAC is heartened that a leader of Ms. 

Patenaude's caliber is willing to take on a leadersltip role at HUD. If confirmed, Ms. Patenaude will be 

an asset to the Administration, and her ser~ice will benefit the vulnerable rural Americans that HAC 

ser~es. 

Sincmly, 

~~Moises Loza 

Executive Director 

Building 

Rural 

Communities 

-Office 

600 ...... -lo..INI ~1500 

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156 


60617070.eps

~ Housing Assistance Coundl 

HAC 1015 VM1l011tA,.,ue. NW, Sulte606, Washington, DC 10005, Tel.: 202-842-8600, Fa.: 202-347 ~1. HACOn.rallome.org 

Wtb site: www.ruiJihoft.org 

Chainnan Mike Crapo 

U.S. Senate 

Committee on Banking. Housing. & 

Urban Development 

534 Dirksen Senate Office Building 

Washington, D.C. 20510 

May25,2017 

Dear Chainnan Crapo and Ranking Member Brown: 

Ranking Member Sherrod Brown 

u.s. Sena!e 

Committee on Banking. Housing. & 

Urban Development 

534 Dirksen Senate Off~ce Building 

Washington, D.C. 20510 

The Housing Assistance Council (HAC) supports the nomination of Pam Patenaude to serve as 

the Department of Housing and Urban Development's (HUD) Deputy Secrelal)l. Throoghout her career, 

Ms. Patenaude has demonstrated an undetSianding of the housing sector from various perspectives. And 

she has earned a reputation among industry SlllkeholdeiS for her even-handed approach in bringing forth 

solutions to housing challenges. 

Particularly notable to HAC and our rural p1111ners across the country is Ms. Patenaude's 

understanding of rural housing. In her previous stint at HUD, Ms. Patenaude's portfolio included the 

Home Investments Partnership ProgJB!!I (HOME), Community Development Block Grant (CDBG), and 

Self-Help Homeownership Opportunity (SHOP) programs, all of Mlich are critical tools to providers of 

rural affordable housing. 

In her role as Director o( Housing Policy at the Bipartisan Policy Center, Ms. Pa~enaude ovmaw 

the "Housing America's Future: New Directions for National Policy" report, which included a chapter 

focused on "The ImportAnce of Rural Housing". The inclusion of rural housing in this report was wellreceived by rural housing stakeholders, as it highlighted both the importance and uniqueness of rural 

housing challenges and opportunities. Ms. Patenaude also provided a forum for discussion of rural 

multifamily housing challenges during her tenure at the Bipartisan Policy Center. 

Housing needs in rural and tribal communities are pressing. HAC is heartened thai a leader of Ms. 

Patenaude's caliber is willing to take on a leade!Ship role at HUD. If confinned, Ms. Patenaude will be 

an asset to the Administration, and her service will benefrt the vulnerable rural Americans thai HAC 

serves. 

Sincerely, 

1l~u Executive Director 

Building 

Rural 

Communities 

-()fib 

6GOWtsi_SO.., 

S..1500 

~IJ.GAl1llOI 

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157 


60617071.eps

-• •·· HOUSING 3f-.,:iilg] PARTNERSHIP jf:·· NETWORK 

May22,2017 

Dear Chairman Crapo and Ranking Member Brown: 

Social-. 

Primo Enterprise. 

I am writing to ~ress the support of Housing Partnership Network for the nomination of 

Pamela Hughes Patenaude to serve as Deputy Secretary of the Depaltment of Housing and 

Urban Development. I encourage your Committee to quickly approve her nomination and 

move it through the Senate. 

Housing Partnership Network Is a business alliance of high-performing affordable housing 

developers and lenders. The members' businesses indude affordable housing development, 

lending. property management and housing counseling. HPN has 97 members in SO states that 

collectively have developed and preserved 373,600 homes, and have served 9.8 million lowincome people through housing. community fadlities and services. Through HPN, the 

members' senior leadership comes together with their peers to exchange information, solw 

problems, and share best practices. Their collaborations have spawned member-owned 

businesses like a property insurance company and a real estate investment trust that advance 

innovations in the practice of affordable housing and community development. 

Ms. Patenaude's nomination deserves your support because she has the leadership ~erience 

and personal commitment to affordable housing to improve the operations of the Department 

and make progress soMng America's shortage of safe, decent affordable housing. As you know, 

more than 11.4 million American households pay more than SO% of their incomes on rental 

housing. leaving little left for food, health care, transportation, and other necessities. The 

growing shortage of rental housing needs to be addressed by the joint efforts of the private, 

public and nonprofit sectors. 

Ms. Patenaude is well-suited to bring together the diverse partners needed to work to improve 

America's housing and community development system. She is collaborative and able to listen 

to diverse points of view. The fact that she has prior experience working in senior positions at 

the Department means that she will be able to addness the challenges atthe Depaltment much 

more quickly than someone who needed to learn the programs. Ms. Patenaude's work at the J. 

Ronald Terwilliger Foundation for Housing America's Families, the Bipartisan Policy Center, and 

OntW..twl&1onMoll.lltilfloo< 

Sosloti.MA02108 

617 7201999. 

120 r.~ lirm Ni.Sortt 760 

WWini100.0C2000l 

20270)7966• 
158 


60617072.eps

• . HOUSING 

@1-.:!1.-@.j: PARTNERSHIP 

'·gg: NETWORK 

the Urban Land Institute gives her decades of experience working with leaders in the affordable 

housing field to craft new solutions to longstanding housing challenges. 

We encourage your Committee to give Ms. Patenaude's nomination swift and positive 

consideration so she can begin helping Dr. Carson address America's shortage of affordable 

housing. Please let me know if you would like to discuss this further. 

1!Thomas Bledsoe. ~ President & CEO 

CC: Members of the Senate Committee on Banking, Housing and Urban Affairs 
159 


60617073.eps

MORTGAGE BANKERS ASSOCIATION 

May 11, 2017 

The Honorable Mike Crapo 

Chairman 

Committee on Banking, Housing 

Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

Dear Chainnan Crapo and Ranking Member Brown, 

The Honorable Sherrod Brown 

Ranking Member 

Committee on Banking, Housing, and 

and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

On behalf of the Mortgage Bankers Association, I am writing to enthusiastically endOfse the 

nOfnination of Pamela Hughes Patenaude to serve as the next Deputy Seaetary of the U.S. 

Department of Housing and Urban Development 

I've had the privilege of knowing Pam for many years, most recently through her outstanding work 

- at both the J. Ronald Terwilliger Foundation and the Bipartisan Policy Center- to address our 

nation's critical housing finance and affordable housing needs. Throughout our work together, I 

have found her to be extraOfdinarily knowledgeable of the challenges facing our nation, and 

dedicated to bringing people together in support ol COfnmor\-sense solutions. 

Pam, of course, is no stranger to housing issues. She possesses an unrivaled background honed 

over a 30-year career that included two prior tours of duty at HUO. Her experience at HUO has 

given her a unique understanding of the challenges facing the department, as well as the critical 

role it plays in helping millions of American families. 

If confinned to serve as Deputy Secretary, Pam will face a daunting task to improve HUD's 

operations and make the department a more effective partner for the people and stakeholders it 

serves. Chief among those challenges, MBA believes HUD needs to address several critical 

priorities in ~s management of the Federal Housing Administration, including enhancing the FHA's 

efficiency and technology deployment, clarifying existing lender guidance, and ensuring the tongtenn financial stabil~ of the FHA program. 

I'm certain HUD will benefit from Pam's deep public and private sector experience. MBA urges 

this committee and, in tum, the full Senate to approve her nomination and we look forward to 

working with her in this new role. 

Sincerely, 

David H. Stevens, CMB 

President and Chief Executive Officer 

1919 M STREET NW. S1h FLOOR • WASHINGTON, DC 20036 • M8A.ORG • (202) SS7-2700 
160 


60617074.eps

11555 N. Meri<rlallStreet Suite «<Il lndlaoapolls, IN 4W32 

June 5, 2017 

The Honorable Michael Crapo 

Chainnan 

U.S. Senate Committee on 

Banking, Housing, and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

-...:.. --_.....:;:::; --· 

,; -~·~·-: t • •• - 'I 

(317) 569-7420 

The Honorable Sherrod Brown 

Ranking Member 

U.S. Senate Committee on 

Banking, Housing, and Urban Affairs 

534 Dirksen Senate Office Building 

Washington, DC 20510 

Dear Chainnan Crapo and Ranking Member Brown: 

The Muhifamily Lenders Council rMLC') is writing in support of the nomination of Pamela H. 

Patenaude for the Pos~ion of Deputy Secretary of the Department of Housing and Urban 

Development 

MLC is a consortium of geographically dispersed, independent moltgage bankers that utilize the 

Federal Housing Administration's insurance programs to finance affordable, workforce and market 

rate rental housing across the country. Founded in 2013, the mission of the Council is to advocate 

for effective and efficient FHA muttifam~y programs by (1) working with Members of Congress to 

provide information on the FHA multifamily programs' history and success as well as suggest 

improvements, and (2) working ..mil HUD to streamline processes, increase production and 

maintain fiscally responsible programs. 

We look forward to working with Mrs. Patenaude to improve the FHA multi-family mortgage 

insurance program so that it can serve the ever iJrowing need of workforce and affordable rental 

housing across America. Mrs. Patenaude has been a good friend, advocate, and leader for 

affordable housing. She understands HUD and ~ mission. She wants to focus on making HUD 

work for modest-and low-income Americans. MLC has worked with her in her previous roles and 

we know that she recognizes the affordable housing crisis in the rental market and how HUD can 

help. She has spent decades WOfklng on solutions ..mil stakeholders. 

Working with Dr. Carson, Mrs. Patenaude, and their team we are confident we can build upon the 

successful role small and mid-size independent muhi-family lenders have played in the FHA 

mortgage insurance program to achieve even greater success in servicing the mortgage financing 

needs of America's rental communities. 

Thank you for this opportun~ to comment on Mrs. Patenaude's nomination. We would be pleased 

to answer any questions you or your staff might have or to provide addttional information. 

Michael Petrie, CMB 

President 
161 


60617075.eps

May22, 2017 

The Honorable Michael Cfilpo 

Cllairman 

Senate Committee on Banking, Housing 

and Urban Affairs 

U.S. Senate 

Washington, DC 20510 

Mutual 

Housing 

CALIFORNIA 

The Honorable Sherrod Brown 

Ranking Member 

Senate Committee on Banking, Housing 

and Urban Affairs 

U.S. Senate 

Wasllington, DC 20510 

Dear Chairman Crapo and Ranking Member Brown, 

I am writing to express the unqualified support of Mutual Housing calffornia for the nomination of Pam 

Patenaude to be the next Deputy Secretary of the Department of Housing and Urban Development 

(HUD). 

Mutual Housing california Is a nonprofit community development association that currently houses 

more than 3,000 low income people in perrmanently affordable housing that builds strong and stable 

communities through resident participation and leadership development. We operate 19 mutual 

housing communities in both urban and rural areas within and surrounding Sacramento, california. 

The nomination of Ms Patenaude for Deputy Secretary at HUD comes at a critical time wllen we are 

facing an affordable housing crisis throughout America. We view the opportunity to have someone as 

experienced, committed and qualified for that position as isMs Patenaude as an opportunity to bring 

leadership and innovation to supporting those throughout our country who are working to addre~ that 

crisis while making our communities stronger. 

Her previous wort at HUD, the J Ronald Terwilliger Foundation, the Bipartisan Policy Center and the 

Urban Land Institute all point toMs Patenaude's qualifications and long-standing commitment to 

addressing our current housing shortage through bipartisan solutions. 

In lig11t of the above, we urge the Committee to approve Ms Patenaude's nomination as expeditiously 

as possible. 

Executive Director 

8001 Frurtndge Road, SUllo A. Sacramenlo, CA 9582Q 

V0< 916 ~.8400 I Fa. 916 4538401 

mutualhousing.com 

(IU.tfW 

~~ • • Mall 
162 


60617076.eps

NAAHL 

Mayl8, 2017 

Sen. Mike Crapo, Chairman 

Sen. Sherrod Brown, Ranking Member 

National Association of 

Affordable Housing Lenders 

U.S. Senate Committee on Banking, Housing, and Urban Affairs 

S34 Dirksen Senate Office Building 

Washington, D.C. 20510 

Dear Mr. Chairman and Sen. Brown: 

The National Association of Affordable Housing Lenders {NAAHL) enthusiastically supports the 

nomination of Pamela Hughes Patenaude as Deputy Secretary of the U.S. Department of 

Housing and Urban Development {HUD). 

NAAHL is the national alliance of leading banks, oommunity development financial institutions 

{CDFis), and other private capital providers committed to affordable housing and inclusive 

neighborhood revitalization. Partnerships between responsible private capital providers and 

government at all levels-especially HUD- are essential to affordable homeownership and 

rental housing, as well as to strong urban, rural, and suburban neighborhoods in every state. 

Private capital multiplies the impact of limited public resources and adds market discipline and 

expertise to these partnerships. HUD provides seoondary financing through HOME, CDBG, and 

Choice Neighborhoods, mortgage liquidity through FHA and Ginnie Mae, and rental assistance 

so private capital can flow responsibly, reliably, and consistently. A list of NAAHL's sustaining 

members is attached. 

An ideal HUD Deputy Secretary should have deep experience in affordable housing and 

oommunity development policy and practice; fully understand how HUD works 

programmatically and operationally; a history of bringing together a wide range of interests 

with divergent perspectives around a oommon agenda; and a proven leadership record. 

Pam Patenaude excels In all respects. 

• She has 35 years of experience and oommitment to affordable housing and community 

development in a range of roles-as a builder, state and federal government offiCial, 

researther, and policy leader. She has lived the practice and policy of affordable 

housing from the perspectives of both the public and private sectors. She will be able to 

balance the full range of oonsiderations necessary to good decision-making and 

management at HUD. 

102S Connecticut Avenue, NW, Suite 710, Washington, DC 20036 

{202) 293-9850 I naahl.org 
163 


60617077.eps

• Her experience at HUD under President Reagan and President George W. Bush will be a 

great asset in taking on the complex job of Under Secretary. She knows how HUD 

works, where its strengths lie, and how to address its challenges and opportunities. 

• As director of the Bipartisan Policy Center's Housing Commission, co-chaired by Kit 

Bond, Henry Cisneros, Mel Martinez, and George Mitchell, Pam built a broad consensus 

for forward-looking policies. This work reflects her outstanding leadership and 

management skills and also provides a set of ideas for consideration by Congress and 

the Trump Administration. 

We are grateful that Pam Patenaude has agreed to serve a third tour of duty at HUD. We are 

confident she would be an outstanding Deputy Secretary and we urge the committee to 

consider her nomination timely and favorably. Thank you for your consideration. 

Sincerely, 

Benson f . Roberts 

President and CEO 
164 


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NAAHL Sustaining Members 

Ally 

American Bankers Association Foundation 

American Express 

America's Federal Home loan Banks 

Bank of America 

Bank of NewYori< Mellon 

BB&T 

BMO Harris Bank 

Capital One 

Citi 

The Community Development Trust 

Community Investment Corporation 

The Community Preservation Corporation 

Community Reinvestment Fund, USA 

E'TRADE 

Fifth Third Bank 

Goldman Sachs 

Housing Partnership Networi< 

JPMorgan Chase 

USC/National Equity Fund 

low Income Investment Fund 

Massachusetts Housing Investment Corporation 

Massachusetts Housing Partnership 

Morgan Stanley 

MUFG Union Bank. N.A 

NeighborWorks America 

Northern Trust 

Ohio Capital Corporation for Housing 

Pembrook Capital Management l lC 

PNC Community Development Banking 

Raza Development Fund 

Rocky Mountain Community Reinvestment Corporation 

Santander Bank. N.A 

Silicon Valley Bank 

TO Bank. Community Development 

U.S. Bank 

Wells Fargo 

Woodforest National Bank 
165 


60617079.eps

,......-....... 

NAHB. 

Halicc1al Astoclation of Home llullcMrs 

120115th street 1m 

Washingtoo, DC 20006 

T 800 368 5242 x8408 

F 202 266 8374 

GMacOonald@macdonaldoompanies.com 

June 5, 2017 

The Honorable Mike Crapo 

Chalnnan 

unned Slates Senate Committee on 

Banking, Housing, and Urban Affars 

239 Oi'l<.sen Senate Office Buil:ling 

Washington, DC20510-7010 

The Honorable Sherrod Brown 

Ranking Member 

Unfled States Senate Committee on 

Banking, Housing, and Urban Affairs 

713 Hart Senate Office Building 

Washington, DC 20510-7010 

Dear Chaiman Crapo and Ranking Member Brown: 

Granger MacDonald 

2017 NAHB Chainnan of the Board 

On behaff of the Na.tiooal Association of Home Builders (NAHB), I am pleased to offer our 

suong support for the nomination of lhe Hon.orabte Pamela Hughes Patenaude to be Deputy 

Secretary of Housing and Urban Development (HUO). 

NAHB has worked wnh Ms. Patenaude throughout her tong professional career, both in her 

mu~ roles at HUD where she administered key housing programs tor our Industry to her 

more recent posmns as Director of Housing Policy for the Bipartisan Policy Center and as 

President of the J. Ronald T erM!iger Foundation for Housing America's Families. Throughout 

her government and private sector career, Ms. Pateoaude has proven herself to be an expert 

in the housing field, and someone wnh a keen eye for identifying industry-wide issues and 

providing viable solutions. NAHB has ful confidence in Ms. Patenaude for this cmical posnion 

at HUD, and believes she wil bring an aggressive new approach to reducing bureaucratic 

requiements while achieving strong program results wnh lim~ed taxpayer resources. 

As housing goes, so goes the economy. To eosure the housing recovery continues to move 

forward, l is essential to have a leader like Ms. Patenaude who is committed to promoting 

pro-hOusing policies that support homeownership, pm'liding rental housing opportunaies for 

hard-worldng American families, and removing regulatory barriers thai are needlessly raising 

housing cosls across-the-board. 

NAHB looks forward to wort<.tng wlh Pam Patenaude in her role as HUO Deputy Seeretary in 

2017 and beyond. 

cc: Senate Comniltee on Banking, Housing, and Urban Affairs 
166 


60617080.eps

Senator Michael Crnpo, Clnir 

National Association or Housing and Redevelopment Officials 630EyeStrec~NW, WasbinglonDC 20001-3736 

(202) 289·3l00 Toll Free: (877) 866-2476 Fa,; (202) 289~181 

U.S. Senate Committee on Ba00n& Housin& and Urban Affitirs 

534 Dirl<sen Scrolt O!f~ee Building 

Wasbi~on. D.C. 20510 

June 1, 2017 

On behalf of the ahrost 20,000 agency and i00i1;dual m:mbeos oftbe National Asliociation of Housing and 

Redcldopnrrt Officials, I aro 111itil)g to SllppOrt the noroinalioo of Pamela HugOO$ Pillenaude as the De!)llly 

Sectt!ary for tbe Depertorm of Housing and Urban Dtl-elopm:ot (HUD). 

M$. P.-eroude's e.xtensilt t.\-perienet llithalforti>le rousingard community del-elopnrnt issues, both in the nonprofit seetor and at HUD, 11iU be an asset ard a SI!Ong resource in canying olll HUD's mission. Her career spans 

roore than 30 years in the oo~ community econotnic del·clopnrlll, real eslale, and ptj)lic policy areas. She is 

tbe presidelll of the J. Ronald Temilliger Fowxlation for Housing Am:rica's FaroiUes, a nonprofit education and 

resean:h organi:>J~tion dedicaled to illuminaling America 'salfordable rousing crisi~ Before this, sbe seiVCd as 

Direc10r of Housing Policy for the Bipartisan Policy Celler (BPC). During bet ltnore, the BPC poolished a report, 

"Housing America's Fllure: New Diroclions for National Policy," wbicb proposed dive~ solutions to address 

cuntnt housing challenges, Ms, Patenaude also serred as E.xecutil·e Vtee Presided of the Urban Land Institute, and 

as Founding E.'ecurire Direc~or for the Ten1iltiger Center for Workforec Housing. 

In particular, Ms. Patenaude bas valuable prior HUD e.xperiencc. Earlier in ber~. sb: SCII'ecl as the AssislaJt 

Scatlaty for Community Planning and Dtl'tlopmell; sbe also SCI\'cd as HUD's AssislaJt Deputy Sccrc13ty for 

Field Policy and Manage me Ill We beliel-e ber C.\1Cnsil-e knowledge ofHUD. as m:ll as its pro~ practices. and 

prooedures. l1l3k£s her an exceptionally SI!Ong candidate. Sbe is prepared for tbe job. 

Gil-en bcr prior experience and cn:demal~ 11-e beliel·e Ms. Patenaude 11ill be a highly qnalifted menter of the HUD 

lcadersbip team, and one woo will bring her e.'pericncc illo the room ascompl~ed rousing marters are 

dclibelllted. We CllCOUillge swill action on bet appoillment 

Sincerely, 

AdrianneTodrmn 

NAHROCEO 

Slrpbta W. Merritt, PHM, ~ Cad S. Rid>it, Jr, NCC, NAHRO Fellow, Salior v;:. PresideD~ Julie Brrwm, Vke ~~lllemational R~ and Glolol E:o:baage; OoOil Brown-R~ v;:e Pr<silatt-Manbo:r S<mces; Ootlono Dttn<111, 

v;:e Presideot.(:onmwnity R<lilalizltion llld Dcl'dOpmcll~ Dtta11< Hopldns, 'fiCC Presiclcnt.J'rofCI!iooall):relopmelll; Rk:llord Loco, PHM, Vice l're$ickllt.C0mmission<B; Regina kcbll~ 8PHM, PHM, Vice Presiclcnt-HDusing Adriam Todma11, Cbid' ~Offiocr. 

W<ilSile: ~ 
167 


60617081.eps

[B NATIONAL 

ASSOCIATIOt\o{ 

REALTORS' 

DhASo "'I 

<J II 1>' 

r.nVIJ\N\11 Nl A~fAlRS DIVISION 

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, .. NAliOHAl AISOCIAliONOI R(Alla.l 

..,illbicTOI tell••'!(' CGdtol(tha. 

June 2,2017 

The Honooble Michad Cr~po 

O.ainnan 

U.S. Seruue CommJIIce on &nlcing. 

Hoosing. and Urban Mfain 

239 Dirksen Senate Off~ llu~ding 

\Vashilgtoo, DC 20510 

The Honooble Sherrod Brown 

Ratking Member 

U.S. Se.~ate Commiuce on &nlung. 

Hoosing. and Urban Mfaits 

713 lWt Senate 0~ Building 

\~'ashil2100. DC 20510 

Dear 01:3irru1 ~ 11-.l Ranb>g Menber ilrou11: 

The non cbll1 mihlo membtn of me ~:ation21 ~of REALTORS• 

~AR) suonglr suppon !be namnuion ofPw P2ltiWie as Depul)' S«ret.y for !be 

~tofHoosr~gm t:rbao Del'doprnrnt (HUD}. Htte:~penn~cund 

~ .. oil~yt-fitlhe ~·lll!d ~ Arnm:mptepft. 

Ms. Paterwle's &miiamy with the policy arera and 1>itb hru!ing specifally malct$ 

her :tn outst:wlding dtoice for this position. Her )"eatS of public service, both a1 HUD 

and in the nonprofit sector havt s.hown her dedic:ttion 10 me housW.g industry Md her 

vas I kno\\iedgc that will serve us aD weD at HUD. She f12S consistendy en~~ in rhe 

issues Md is witting 10 work in 1 bipartisan f.lshion 10 fllld solurons 10 our narion's 

housing pro~. 

Ms. P21tn2ude began htt carctr at !he ~ew ~Housing Authority, so she bas 1 

grtat undetsl2nding of how state and local housing issues u. ~ by fedml 

polj:y. She Sso 1111 ~of the SllCCellfij use of puliic-prilu pannet!lups to 

lq, tt$CJ1'r lhe fack of affotlbllle bousmg in IIUOf ~ somtdlllg th2l 

S«ret.y Carsoo 1111 ~ ouc as a p<IOIXy. 

Ni\R asks ror your A'lft conlinnarion of P;rn Pue.wde as Depury S«ret.y of HUD, 

and looks foro."Md 10 WDflang ,.,th her 10 obtain <1=1~ s.afe, afl'onbble housing for • 

ourcin=s. 

SW.cercly, 

~4-. Wili3m E. Bro..n . Q~ 2017 Prtsiden~ N21ional Msociarion of REAlTORS~ 

cc: US Senate Ccmmonee oo BJ~lbl& ~and !:Ibm M&i<s 
168 


60617082.eps

MDC 

May 23,2017 

The Honorable Michael Crapo 

Chairman 

Senate Comm~tee on Banking, Housing 

and Urban Affairs 

United States Senate 

Washington, DC 20510 

Dear Chairman Crapo and Ranking Member Brown, 

One Ballery Patk Plaza 24 Whitehall Sired, 

Suile7t0 

New Y~ NY t0004 

Tet2t2.682.1t06 

Fax2t2.573.6t18 

The Honorable Sherrod Brown 

Ranking Member 

Senate Committee on Banking, Housing 

and Urban Aflairs 

United States Senate 

Washington, DC 20510 

I am writing on behalf of the National Development Council (NOC) to eXJ)ress our strong support for the 

nomination of Pam Patenaude to be the next Deputy Secretary of the Department of Housing and Urban 

Development (HUD). The National Development Council is the nation's most experienced nonprofit 

working in the field of housing and c-ommunity development. 0\Jr m~sion Is to raise capital and direct it 

to economically underserwd communities to create affordable housing, living wage jobs and rebuild 

public Infrastructure. Currently NDC works with over 100 municipal and nonprofit clients nation-wide, 

providing them with the tools and resources needed to address and correct critical housing and income 

inequality issues within their communities. The swift confirmation of Ms. Patenaude will send a signal to 

our urban and rural constituents that Congress values experience and endorses a bipartisan appro.1ch to 

addressing the shortage of affordable housing, crombling infrastrocture and lagging job creation in 

America's poorest commun~ies. 

Ms. Patenaude's experience gained over !he years worlcing with the R. Ronald Terwilliger Foundation, 

the Bipartisan Policy Center and the Urban land Institute and HUD as Assistant Secretary lor Community 

Planning and Development, demonstrates that she is exceptionally qualified, and is the perfect choke to 

become Deputy Secretary of the United States Department of Housing and Urban Development. We 

know Ms. Patenaude to be a thoughtful and tireless worker, who will continue to promote and support 

bipartisan policy solutions to address America's affordable housing shortage and the lack of investment 

In distressed communities nation-wide. 

The National Development Council believes Ms. Patenaude to be an excellent choice to serw as Deputy 

Secretary of HUO, and we stan v-t r1< with he! upon her confirmation. 

President & ao 

ndconline.org 
169 


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The Honornble Mike Crapo 

Chainnan Committee on Banking. 

Housing and Uroan Affairs 

239 Dirksen Senate Office Building 

Washington, DC 20510 

II 

NATIONAL 

HOUSING 

TRUST 

Dear Olainnan Crapo and Ranking Member Brown, 

May 19,2017 

The Honorable Sherrod Brown 

Ranking Member. Committee on 

Banking, Housing and Uroan Affairs 

713 Han Senate Office Building 

Washington, DC 20510 

I am writing to e.~ress !he support of the National Housing Trust for the nomination of Pamela Patenaude 

to serve as !he next Deputy Secretary ofthe U.S. Department of Housing and Uroan Oc•·elopmcnt (HUD). 

Ms. Patenaude's decades of experience in !he public, private an<l philanthropic sectors have equipped her 

11ith !he expertise and leadership skills to be a strong Deputy Secretary. We encourage the U.S. Senate to 

con finn her nomination swiftly. 

Our country is facing a rent.11 housing affordabilil)' crisis. One in four renters spend more than half of their 

monthly income on rent. Available rent.11 assistance programs serve only one in four eligible residents. A 

shonase of affordable rental housing is at the root of this criSis and •s 11orsened by declining 

homeowncrship rates. These challenges 11ill only increase in the coming decade as the senior population 

S11clls and !he large Millennial generation continues to fonn households. Effective solutions to tbe 

affordabilil)' crisis and strategic investment to create opportunity in America's communities 11ill require 

commiunent, e:~:pen leadership, and partnerships across the pri1o:~te, public and nonprofit sectors. 

Based on her years working in affordable housing, we are confident that Ms. Patenaude fully appreciates 

the critical impoltlllce of HUD's mission and the challenges 11e face. She has the kno11 ledge, c.~perience 

and commitment to help guide the agency in addressing these challenges. Ms. Patenaude has worked 

effectively with colleagues across all sectors, perspectives and ideologies to identify the best approaches 

and achieve better outcomes for the people served by housing assistance. 

Ms. Patenaude is a persoo of the utmost integrity and has a passion for public service. She is a leader 

committed to the mission ofHUD and kno11 ledgeable in its progrnms and operation. We would be fonunate 

to have her as our HUD Depul)• Secretary. If the Senate confinns her, 11e look fom<trd to working closely 

with Ms. Patenaude, SecretaJ)• Carson, and the HUD team to help meet America's pressing housing needs. 

Sincerely, 

Michael Bodaken 

President 

National Housing Trust 
170 


60617084.eps

NCCDC 

Northern Cambria Community Development Corporation 

4200 Cn,.ford A venue, Suite 200 

Northern c.mbria. PA 15714 

May25, 2017 

The Honorable Michael Crapo 

Chairman 

Senate Commiuee on Banking, Housing 

and Urban Affairs 

U.S. Senate 

Washington, DC 20510 

!'bone (814) 9434444 

Fax (814) 948-4449 

The Honorable Sherrod Brown 

Ranking Member 

Senate Commiuee on Banking, Housing 

and Urban Affain 

US. Senate 

Washington, DC 20510 

Dear Chairman Crapo and Ranking Member Brown: 

On behalf of Northern Cambria Community Development Corporation,! am writing to express our dedicated 

support for the nomination of Pam Patenaude to be the next Deputy Secrewy of the Department of Housing and 

Urban Development (HUD). NCCDC is a non-profit dedicated to growing our community; making it a good 

place to tive, wort, do business and raise children. Through real estate development. NCCDC has established a 

management and/or ownership ponfotio that consists of 21different properties in II Penns)ivania counties that 

has created 246 housing units, attracted 10 commercial business tenants, and generated nearly 100 jobs. 

Nonhero Cambria Community Development Corporation believes that Ms. Patenaude has shown a commitment 

to building up communities throughout our country and urges the Commiuee to approve her nomination as 

expeditiously as possible. 

Ms. Patenaude has demonstrated that she is qualified to help lead and manage HUD's day·to-day 

operations, through her decades of housing experience working at the J. Ronald Terwilliger Fouodation, the 

Bipartisan Policy Center, the Urban Land lnsutute, and her various roles at HUD. Ms. Patenaude is a thoughtful 

housing leader who will build consensus and help guide the department to improve our nation's housing stock 

and help communities prosper. 

Furthermore, we believe that Ms. Patenaude embraces a firm commiunent to addressing the affordable housing 

crisis facing America, including the unique challenges in rural communities. We believe that she will continue 

to support bipartisan policy solutions to address America's shortage of affordable housing and the residents that 

rely on HUD to support safe and supportive places to live. 

In closing, NCCDC believes that Ms. Patenaude is an excellent choice to se~e as Deputy Secretary of HUD. 

With Ms. Patenaude's experieoce, comrnitrneot and qualifications we are confident that she \\<ill continue to be a 

leader and an innovator. NCCDC stands ready to work 11.ith Ms. Patenaude and HUD upon her confirmation to 

ensure thill all communities across America continue to receive the suppon they need. 

Executil·e Director 

Nonhem Cambria Conummity Development Corporation 
171 


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NCCDC 

Northern Cambria Community Development Corporation 

4200 Crawford A ~nue, Sbite 200 

NOithem~PA 15714 

May25,2017 

Senator Palrick Toomey 

U.S. Senate 

Washington, OC20SIO 

Dear Senator Toomey: 

l'llone ( 814) 948-4444 

Fax (814) 94&-4449 

On behalf of Northern Cambria Community Development Corporation,! am writing to express our dediCated 

support for the nomination of Pam Patenaude to be the next Deputy Secretary of the Department of Housing and 

Urbau Development (HUD). NCCDC is a non-profit dedicated lD growing our community; making it a good 

plaee to live, WOii, do business and raise children. Through ru1 estatt development, NCCOC bas establisbed a 

managemet~t and/or ownership pollfolio !Mt consists of 2!differeot properties in II Pennsylvania oounties that 

bas aeated 246 housing units, altl1ICled 10 commercial business tenants, and generated nearly 100 jobs. 

Northern Cambria Community Development Corporation believes that Ms. Patenaude has shown a commitment 

10 building up communities throughout our country and urges the Commiuee to approve her nomination as 

expeditiously as possible. 

Ms. Patenaude basdemoDSIIaled that she is qualified to help lead and mana&e HUD's day-to-day 

operations, through her decades of housing experience WOtting at the J. Ronald Terwilliger Foundation, the 

Bipanisan Policy Center, the Ulbao Land Institute, and her various roles at HUD. Ms. Patenaude is a thoughtful 

housing leader who will build consensus aod help guide the department to improve our nation's housing stock 

aod belp communities prosper. 

Funltermore, we believe that Ms. Patenaude embraces a firm commitment to addressing the affordable housing 

crisis facing America, including the unique cballenges in rural communities. We believe that she will continue 

10 support bipartisan policy solutions 10 address America's sborta&e of affordable housing and the residents that 

rely on HUD to support safe and supportive places to live. 

In closing, NCCDC believes that Ms. Patenaude is an excellent choice to serve as Deputy Secretary ofHUD. 

With Ms. Patenaude's cxperieoce, commitment and qualifiCations we are confident that she will COiltinuc 10 be a 

leader and an innoVator. NCCOC SWids ready lD WOit with Ms. Patenaude and HUD upon her CODfirmatioo to 

ensure that all communities across America continue 10 receive the support they need. 

Executive DiteclDr 

NOI1hern Cambria Community Development Corporation 
172 


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June 2, 2017 

NATIONAL 

LEASED HOUSING 

ASSOCIATION 

The Honorable Michael Crapo 

014irman 

U.S. Senate Committee on 

Banking, Housing, and Urban Affairs 

239 Olli(sen Senate Office Building 

Washington, DC 20510 

The Honorable Sherrod Brown 

Ranking Member 

U.S. Senate Committee on 

Banking, Housing, and Urban Affairs 

713 Hart Senate Office Buildi~ 

Washington, DC 20510 

Dear 014irman Clapo and Ranking Member Brown: 

I am writing on behalf of the National Leased Housing Association (NLHA) to elq)ress our strong 

support for the nomination of Pam Patenaude for the position of Deputy Secretary for the 

Oepartment of Housing and Urban Development {HUD). The National Leased Housing 

Association (NLHA) was formed In 1972 a.nd is committed to public and private sector interaction 

as the most pragmatic means of meeting this nation's rental housi~ needs. 

Ms. Patenaude's distinguished career in the field of affordable housing is extensive and 

impressive and her experience will serve HUO ~1. NLHA has woli(ed with Ms. Patenaude over 

the years both during her previous time at HUD and again when she was directing the housing 

activities of the Bi-Partisan Policy Center. We have found her to be extremely knowledgeable, 

pragmatic and committed to issues surrounding the provision of affordable housing. 

Thank you for your consideration. 

Sincerely, 

Denise 8. Muha 

Executive Director 

1100 l Sllf!l, NW, 1300 • WASHING!Oit DC 20036 • 202.71U8811 • 202.7S5.200l f • huclriho.com 
173 


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TIONAL LOW INCOME 

HOUSING COALITION 

May 16, 2017 

The Honorable Michael Crapo 

Chairman, Committee on Banking, 

Housing, and Urban Affairs 

U.S. Senate 

Washington, DC 20515 

- .nll>t#g 

~Mtr•ICftoM"'...-,fll/lll!Mcpolq<N,.... 

.. :~~ ....... ~.,.I.Mfo'$MtN.ot.,..,.,tl'd...,"""­ ,ooo-. ..... IM.luoo500 ~ DC20005 Tti202662JS30 fM202J9ll9]J 

The Honorable Sherrod Brown 

Ranking Member, Committee on Banking, 

Housing, and Urban Affairs 

U.S. Senate 

Washington, DC 20515 

To Chairman Crapo and Ranking Member Brol'tfl, 

On behaij of the National Low Income Housing Coalition (NLIHC), I write to encourage you and 

your Senate colleagues to confirm Pam Patenaude as deputy secretafY of the U.S. Department 

of Housing and Urban Development (HUD). Ms. Patenaude is a strong leader v.ith decades of 

experience cultivating bipartisan solutions to America's affordable rental housing Clisis. She has 

deep knowledge of, experience with and appreciation for the critical programs she will oversee. 

NLIHC is dedicated solely to ensuring that people with the lowest incomes in the Unfted States 

have affordable and decent homes. Our members include state and local housing coalitions, 

nonprofit housing providers, homeless seNite providers, fair housing organizations, 

researchers, public housing agencies, private developers and property owners, local and slate 

government agencies, faith-based organizations, residents of public and assisted housing, and 

concerned citizens. 

Ms. Patenaude's nomination oomes at a critical time. NLIHC's recenUy released report, The 

Gap: A Shortage of Affordable Homes, shows that the U.S. has a shortage of 7.4 million 

affordable rental homes available to the lowest inoome people. EvelY state and congressional 

district is directly impacted by the grol'oing housing affordabitity Clisis. Because of chronic 

undertunding of rental housing assistance programs, just one in four of the poorest people in 

America get the housing assistance they need. 

NLIHC and our members look fo1ward to working with Ms. Patenaude, when confirmed, to 

preserve, improve and expand the critical programs necessary to end homelessness and 

housing poverty for the millions of families who struggle to pay their rent each month. 

Sincerely, 

Diane Yentel 

President and CEO 
174 


60617088.eps

Junes, 2017 

NATIONAL 

MULTIFAMILY HOUSING 

COUNCil 

The Honorable Michael Crapo 

Chairman 

U.S. Senate Committee on 

Banking, Housing, and Urban Affairs 

239 Dirksen Senate Office Building 

Washington, DC 20510 

NAA 

---The Honorable Sherrod Brown 

Ranking Member 

U.S. Senate Committee on 

Banking, Housing, and Urban Affairs 

713 Hart Senate Office Building 

Washington, DC 20510 

Dear Chairman Crapo and Ranking Member Brown: 

It is with honor that we write on behalf of the National Multifamily Housing Council (NMHC) and 

National Apartment Association (NAA) to express strong support for the nomination of Pamela 

Patenaude as Deputy Secretary at the Department of Housing and Urban Development (H UD). 

Ms. Patenaude has dedicated her career to creating quality housing that is affordable and attainable 

for all Americans. In her capacity as President of the J. Ronald Tenl'iUiger Foundation for Housing 

America's Families, she has brought attention to the affordable housing crisis in America. Prior to 

this, she helped set a new direction for national housing policy as Director of Housing Policy at the 

Bipartisan Policy Center. Ms. Patenaude also has extensive experience at HUD, sen1ng as both As· 

sistant Deputy Secretary for Field Policy and Management and Assistant Secretary for Community, 

Planning and Development during President George W. Bush's Administration. 

With the number of households renting apartments at almost 19 million, it has ne"er been more 

important that private industry and lawmakers oome together in support of pro-growth policies that 

make it easier for American residents and families to find housing that fits their unique needs and 

circumstances. NMHC and NAA ha1·e worked with Ms. Patenaude over the oourse of her career and 

can attest to her commitment, integrity and critical knowledge of the issues impacting the housing 

industry. Ms. Patenaude will be a tremendous benefit as HUD and the real estate industry work together to pro~de homes for American families, whether they choose to rent or buy. 

NMHC and NAA support the swift oonfirmation of Ms. Patenaude before the Senate Committee on 

Banking, Housing and Urban Affairs. We look fonvard to working with Secretary Carson and his 

team to del'elop and implement balanced housing policies that reoognize the importance of rental 

housing. 

Sincerely, 

Douglas M. Bibby 

President 

National Multifamily Housing Council 

R

~ obert Pinnegar 

President & CEO 

National Apartment Association 

cc: U.S. Senate Committee on Banking, Housing, and Urban Affairs 

APARTMENTS WE LIVE HERE NI<HCI"M-Lit"'" ,.,.,m 17J'5bdl.NW.Suliltl00 I WMhlll;too. O.C.lOOCltt I lG1976UOO WtAtt~l'ltl'ltt.«g 
175 


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.... ,• REINVESTMENT 

' ·· • FUND 

Michael Ctapo, Chair June 1, 2017 

Sherrod Brown. Ranking Member 

US Senate Committee on Banking. Housing. & Urban Affairs 

Dear Senatoo Ctapo and Brown, 

On bthalf of my organization, I write this letter in support of Pamela Hughes Patenaude's nomination to the 

posftlon of Deputy Secretaty, US Department of~ and Urban ~t (HUO). We haw come to~ 

Ms. Patenaude personally and professionally over the ~st sevefal years and it is !Nt ~rience that rnoYe$ us to 

write in support of her nomination. 

Reinvestment Fund is one of the nation's premier community development finandallnstitutions. ~r 30 years, 

we have invested more than $1.9 billion iKtOSS Amerla supporting affordable housing. childcare Cl!nters, charter 

schools, fresh food retail and arts and culture spaei!S. We also do rigorous research aimed at measuring our own 

impacts as well as creating analytics that support making data-based housing and community development 

investmtnt decisions by government. phi~ntlvopy and the private (fOf· and not·fOf profit) sectOfs. 

Over the years, our research group has~ closely with HUO to analyle the impact of some of its programs 

(e.s., the fedel31 Nelshborllood Stabilintion Prog~am) as well as to pre71ide data and analytic support for many of 

its COBG srantee communities (e.s., Baltimore, Pittsburgh, Detroit Phi~delphla, New Orleans, St. Louis and 

Houston). As COBG resources decline, the ability to make smart, data· based decisions becomes increasingly 

Important to 3$Sure efficient ~nd ~ffectlve impacts. 

Ms. Patenaude has been a member of our Policy AdVisory Board, a group that convenes four times a year and 

pre71ides oversfCht and guidance to our Policy Solutions research group. In that capacity Ms. Patenaude has 

offered creat insich!S and oonstructiYe succestions about how to ensuse that the polity research we do is 

obj«tivf, ~and actionable. Her insllhiS into how polity is macle and how government implerneniS that 

policy- owins to her experiEnce as Director of the Housing Commission at the Bipartisan Polky Center and her 

two periods of service in HUO-Wl!re sreatly valued by us and the communities with which we work. Ms. 

Patenaude's ability to see the analyses we conduct through the eyes of government, policymakers and 

philanthropy added considerably to the relevance and applicability of our work. Reinvestment Fund is better able 

to serve the COfnmunities where we invest because of Ms. Patenaude's dedication to effective and efficient 

sovernment throUih the use of data in dedsion makin& and program assessments. 

In condusion,lleinvestment fund wtlOieheartedly supports Ms. Patenaude !Of the posftlon of Deputy Secretary of 

HUO. 

Donald Hinkle-Brown 

President and CEO 

Reinvestment Fund 

~IIIMSTMlllt COM 
176 


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' 

Vsa Electronic Mail 

May 17,2017 

The Honorable Mike Crapo 

Q) Chairman Committee on Banking. 

._. Housing and Urban Affairs 

The Honorable Sherrod Brown 

Ranking Member, Committee on 

Banking, Housing and Urban Affairs 

713 Hart Senate Offke Building 

Washington. DC 20510 

~ 239 Dirksen Senate Office Building 

.!!! Washington, DC 20510 

Q) 

u 

u The Honorable Richard Shelby 

The Honorable Bob Cortcer 

The Honorable Jack Reed 

<( 

,; The Honorable Patrick J. Toomey 

~ The Honorable Dean Heller 

The Honorable Robert Menendez 

The Honorable Jon Tester 

The Honorable MarteR. Warner 

The Honorable Efizabeth Warren 

The Honorable Heidi Heitkamp 

The Honorable Joe Donnelly 

The Honorable Brian Schatz 

m 

> 0 

c 

The Honorable Tim Scott 

The Honorable Ben Sasse 

The Honorable Tom Cotton .S The Honorable Mike Rounds 

a} 

.... 

m 

'-0 

.0 

m 

. 

The Honorable David Perdue 

The Honorable Thorn Tillis 

The Honorable John Kennecly 

The Honorable Chris Van Hollen 

The Honorable Catherine Cortez Masto 

Dear Chairman Crapo, Ranking Member Brown and Members of the Senate Banking Committee: 

0 I am writing in support of the nomination of Pamela Hughes Patenaude as Deputy Secretary of Housing 

U and Urban Development 

I have wortced in the field of housing and community development for rnore than forty years. including 

setvice as Executive Assistant to HUD Secretary Ca~a Hills, a legal practice at latham & Watkins that 

included work in affordable housing. and the founding and leadership for a dozen years of Stewards of 

Affordable Housing for the Future (SAHF). SAHF is a consortium of nonprofit developer/owners that is 

working to make its portfolio of 130,000 rental homes for seniors. people with disabilities and families 

with children a platform for residents to improve their lives. 

In all of these roles, I have seen how important it is for HUD's team of senior appointees to include 

members who have experience in HUD's complicated programs and the operations of the agency and 

who work effectively across political divides. The role of the HUD Deputy Secretary particularly demands 

those cross-cutting strengths. 

Pamela Patenaude is exactly that sort of person. As Assistant Secretary of HUD for Community Planning 

and Development she demonstrated a broad knowledge of HUD's programs. a reputation for listening. 

Stewards of Affordable Housing for the Future 

750 9' Street NW Su1te 650 Washmgton DC 20001-4793 • P (202) 737- 5970 • wwwsahfnet com 
177 


60617091.eps

' 

and a skill at working effectively with all of HUD's constituencies. As evidenced by her resume, she has 

extensive experience in the public, private and nonprofit sectors and has shown a deep commitment to 

affordable housing and to cost-effective ways of providing it. 

I worked most close~ with Ms. Patenaude and her team when she headed the staff of the Bipartisan 

Policy Cente(s Housing Commission. As Staff Director, she worked effective~ with the members of the 

Commission from both political parties and sought and received ideas and advice from many of us 

outside the Commission. She was open to multiple perspectives, but also had an important role in 2 bringing the Commission together around a set of recommendations and producing a final report 

~ entitled Housing America's Future: New Directions for NatiOflill Policy that contributed importan ~ to 

_!!! thinking in the field. 

Q) 

u v Ms. Patenaude would be an excellent Deputy Secreta!)'. and I urge that the Banking. Housing and Urban 

<( Affairs Committee recommend her confirmation to the full Senate. 

Q) 

rt) Thank you for your consideration. 

> 

0 

c 

c 

....... 

William C Ke . Jr. 

~ Founder and Strategic Advisor 

~ Stewards of Affordable Housing for the Future 

0 

.0 

Iii 

0 

u 

Stewards of Affordable Housing for the Future 

750 9' Street NW Su1te 650 Washmgton DC 20001-4793 • P (202) 737- 5970 • wwwsahfnet com 
178 


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.A. 

USMI 

US. Mortgage Insurers 

May25,2017 

The Honorable Mike Crapo 

ChailllWI 

Committee on Banking. Housing & Urban Affairs 

U.S. Senate 

239 Dirksen Senate Office Building 

Washington, DC20510 

Dear Chairman Crapo and Ranking Member Brown, 

The Honorable Sherrod Brown 

Ranking Member 

Committee on Banking, Housing & Urban Affairs 

U.S. Senate 

713 Hart Senate Office Building 

Washington, DC 20510 

U.S. Mortgage Insurers (USMJ), on behalf of our member companies, offer this letter of support for Pam 

Patenaude, nominee for Deputy SecretaJy for the Department of Housing and Urban Development 

(HUD). USMJ encourages members of the Senate Banking Committee to approve Mrs. Patenaude's 

nomination and 10 move it expeditiously to the Senate Ooor. Mrs. Patenaude has a history of housing 

experience, knowledge and insights, both in the private and public sectors, and will be a valuable asset to 

the nation's housing system sefVing at HUD. 

The Department of Housing and Urban Development plays an important role in the housing finance 

system, ensuring that Americans have access to affordable and safe mortgage products both through 

affordable rental and through affordable single-family programs. One area of important focus for HUD is 

the Federal Housing Administration (FHA). USMI understands and supports the important value that 

FHA can play as a complirnental)l role to the conventional mortgage market Ho,vever, for far too long, 

there has been linle-to-no housing coordination among various housing agencies nor among the 

government-insured markets (FHA, VA, USDA), and the conventional lending marke~ backed by priwte 

capital such as private mortgage insurance. This lack of consistent and transparent housing policy creates 

market confusion, increases instability, and increases risk to the financial ~em and to American 

taxpayers-all the while diminishingacoess to mortgage finance credil 

Mrs. Patenaude understands the housing finance system and the need for a coordinated, consistent and 

transparent approach to federal housing policy across government channels. Her leadership on these 

important issues will ensure that Americans have greater access to mortgage finance credit for borro,vers, 

\\nile at the same time, increasing private capital in mortgage finance and reducing taxpayer risk 

exposure. 

USMllooks forward to worl<ing with Secretal)l Ben Carwn and with Pam Patenaude in her new role and 

encourages your support for her confirmation. 

Sincerely, 

Patrick Sinks 

ChailllWI 

U.S. Mortgage Insurers 

WI'IW.usmi.org 
179 


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The Honorable Michael Crapo 

Chainnan 

1\ 

-- i \ uu 

COMMUNITY 

Home lenders Assodahon. Inc. 2101 Wilson BouleYarclSuite610 

Arlington, VA 22201 

]Wle 5, 2017 

U.S. Senate Committee on Banking, Housing, and Urban Affairs 

239 Dirksen Senate Office Building 

Washington, DC 20510 

The Honorable Sherrod Brown 

Ranking Member 

U.S. Senate Committee on Banking, Housing, and Urban Affairs 

713 Han Senate Office Building 

Washington, DC 20510 

Dear Chainnan Crapo and Ranking Member Brown: 

The Community Home Lenders Association (CHLA) writes to express our strong support of lhe 

nomination of Pamela Hughes Patenaude to serve as Deputy Secretary for the Department of 

Housing and Urt>an Development (HUD). 

If confinned, Ms. Patenaude would bring more than 30 years of proven leadership in housing, 

community and economic developmen~ real estate, and public policy to lhe Department where 

she previously served as an Assistant Secretary for Con1munity Planning and Development. 

Most recently, Ms. Patenaude served as president of the J. Ronald Tenvilliger Foundation for 

Housing America's Families, a national nonprofit education and research organization focused 

on the affordable housing crisis in America. Prior to co-founding this foundation, she served as 

director ofhousing policy for lhe Bipartisan Policy Center where she led a 21-person 

commission to help set a new direction for national housing policy. 

Ms. Patenaude's demonstrated record of working on a bi-partisan basis to address our nation's 

critical affordable housing challenges, as evidenced by her roles with the Terwilliger Foundation 

and Bipartisan Policy Center, would be of great benefit to Secretary Carson, the Departmen~ and 

lhe public. And, her experience in worlcing wilh HUD's nearly 8,000 employees as well as its 

wide array of stakeholders makes her especially well-suited for lhe position ofDeputy Secretary 

Therefore, CHLA is pleased lhat the Committee is holding a confinnation hearing and asks for 

your support for a quick confinnation of Pam Patenaude as Deputy Secretary ofHUD, so that 

she can assist in carrying out HUD's mission of ensuring decent, safe, affordable housing. 

Sincerely, 

COMMUNITY HOME LENDERS ASSOCIATION 
180 


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-. mercy .. HOUSING 

May 17,2017 

The Honorable Mike Crapo 

Chainnan Committee on Banking, 

Housing and Urban Affairs 

239 Diruen Senate Office Building 

Washington, DC 20510 

The Honorable Richard Shelby 

The Honorable Bob Corker 

The Honorable Patrick J. Toomey 

The Honorable Dean Heller 

The Honorable lim Scott 

The Honorable Ben Sasse 

The Honorable Tom Cotton 

The Honorable Mike Rounds 

The Honorable David Perdue 

The Honorable Thorn Tillis 

Masto 

The Honorable John Kennedy 

The Honorable Sherrod Brown 

Ranking Member, Committee on 

Banking, Housing and Urban Affairs 

713 Hart Senate Office Building 

Washington, DC 20510 

The Honorable Jack Reed 

The Honorable Robert Menendez 

The Honorable Jon Tester 

The Honorable Mark R. Warner 

The Honorable Elizabeth Warren 

The Honorable Heidi Heitkamp 

The Honorable Joe Donnelly 

The Honorable Brian Schatz 

The Honorable Chris Van Hollen 

The Honorable Catherine Cortez 

Dear Chainnan Crapo, Ranking Member Brown and Members of the Senate Banking 

Committee: 

I am writing to express my strong suppolt for Pamela Patenaude's nomination for Deputy 

Secretary of the U.S. Department ofHousing and Urban Development (HUD). I urge the United 

States Senate to confinn her nomination; as the country's affordable housing crisis continues, 

and in many places worsens, I can think of no person better equipped to handle the housing 

challenges we face. 

As President and CEO of Mercy Housing, the country's largest nonprofit provider of affordable 

housing, I can attest to the gravity of these challenges. Every time we open a new affordable 

housing community, the number of applicants dwarfs the number of available units. The sheer 

volume of applications is staggering: earlier this year, when we opened Othello Plaza in Seattle, 

Washington, we received nearly 2,100 applications for 108 apartmeniS, and when we opened a 

community for seniors in San Francisco in 2014 we received nearly 5,000 applications for 90 

homes in just two weeks. 

Tbe story is the same from coast to coast: rents are rising, wages are stagnant, and millions 

of people are struggling to make ends meet. 

Ms. Pautenaude is uniquely suited to help address the affordable housing crisis. With 

30 years of housing experience in the public, private, and philanthropic sectors, she has 

Mercy Housing, Inc., 1999 Broaa..ay, SuRe 1000, Oenvet, CO 80202 p )866.338.0557 

mereytlousing.org 

ilelqliousrG os~bycomm....,..dc.hci<S.. 
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-. mercy .. HOUSING 

adept at bringing people from all over the political spectrum together to come up with practical 

solutions. Her thorough knowledge ofHUD's mission, policies, and operations, coupled with her 

outstanding record of inspired leadership, would make her an invaluable asset to HUD, to 

taxpayers, and to the millions of people HUD serves. 

Sincerely, 

Jane Graf 

President and CEO of Mercy Housing 

Mercy Housing, Inc., 1999 Broaa..ay, SuRe 1000, Oenvet, CO 80202 p ]866.338.0557 

mereytlousing.org 

ilelqliousrG os~bycomm..,...dc.hci<S.. 
182 


60617096.eps

June 8, 2017 

• I ... . ., · 

, ... NALCAB 

NATIONAL 

ASSOCIATION FOR. 

LATINO 

COMMUNITY 

Asm 

BUILD£RS 

U.S. Senate Commitl£e on Banki~ Housi~ and Ulban AlraiB 

$34 Dirksen Senate O(l'~ee Building 

Was.n, D,C. 20SIO 

Chairman. Senator Mike Ctapo (R-ID) 

Ranldng Member, Senator Sherrod Brown ~H) 

Re: Nomination of Pam: Ia Hughes Patenaude, Deputy Seere~my, HUD 

Dear OWrman Ctapo and Rankill& Member Brown; 

Onbelnlfofthe lllCIIDe!soflhe NALCABNetwork, we rue pleasedtoStJppon !he nominationofl'am:laHugbcs 

Patellillde as Depoty See!tw)• of !he Depanmert ofRousi~~& am Ulban De\'tlopment (HUD). Ms. Patenaude ms 

orer25 years of experience in i>Jusill& in a '~riely of roles in housi~ inchxling Assi$18Jt Seerelaty of Communily 

Planni~ am De\'tlopmeru, !he Ulban Land lnstilule's Terwilliger Center on Housing; am most recently as 

Preside1i of !he l. Ronald Tcmilliger Fouroation for Hoosi~~& America's Family. Her clear passion for I>Jusingand 

communities along with her many years of sel\ic:e al HUD bin•e uniq..:ly prepared oor for Ibis role. 

NALCAB- Nalional Association for lalioo Community Asset Builders represern and selVes a geogq>hieally and 

etbrtic:aDy direrse 81014> or more thin 12S OOJI1lrofit community de'~lopmem and asset-buildi~~& organizations thai 

are anchor institutions in our nation's latioo communities. NALCAB's mission is to build assets in lalino families, 

conuramilie:s and orpnizations. NALCAB's work ad\-ances ccooomic mobility for low· and IOOderate-income 

people. 

NALCAB mermers are e.\]lens in implemer4ing responsible, AWl-based Sllategies for strengtheling uroerserred 

conurunities, rebuilding the laddtr of economic mobilay for low· am IOOderale-income Americans am supponi~ 

!he c:eonomie irtegrntion of immiyari.S. NALCAB members are real eue del·etopers. business lcoders, c:eooomie 

development corporations, community dcrelopment credit unions, am consumer counseli~ agencies, operati~~& in 

40 SI<IICS and DC. 

Ms. Patenaude bas worked 10 build more oomes for working families, refonn of t.he Community De\tlopmert Block 

Giani pmgr.un, and buill bipanisan suppon for !he nation's renlal oousi~ crisis. Because of hercommitmertlo 

many of !he policies am pmyams we suppon, NALCAB ~ !he Senate 10 swift~· confinn Ms. Patenaude. We 

look forward to \\Orkill& 11i1h her 10 51W0n critical programs lhil pm1001e oomeo11rersbip and small business 

entrepreneurship. 

Sincere~ . 

NociPoyo 

E'ICC\ti\~ Director 

~ \Vunbach Rd. I San Antonio, TX 782381 ~bin : 210.227.10101 ~ 210.455.43821 tUlcab.o~g 
183 


60617097.eps

PI[ National All1ance to 

L~ END HOMELESSNESS 

May30, 2017 

Sellator Mike Crapo 

Chair 

Senate Banking Committee 

Dirksen Sellate Office Building. SD·239 

Washington, DC 20S10 

Sellator Sherrod Brown 

Ranking Member 

Sellate Banking Committee 

Hart Senate Office Building, SH·713 

Washington, DC 20S10 

Dear Chairman Crapo and Ranking Member Brown: 

www.•ndhCHne ess ts~rt I~II~POUn'IIKII.OIItCi(AI"'RYito«.t.tllf(.CIN.'I_.ltAOtU 

l)tlkStrfflMW ~Roorl~tcaOClOOOt 

ttl10t4)6.J1Z£!rulm4luw 

I am wr~illi on behaH of the National AUiance to End Homelessness, to express the Alliance's support 

for the nomination of Pamela Patenaude to the position of Deputy Seaetary of the Department of 

Housi!li and Urban Development. 

The Allianoe has worked with Ms. Patenaude in her previous posttion at HUD durilli the George W. Bush 

Administration; and during her time at the Bipartisan Policy Center, when I served on the Center's 

Housi!li Task Force. The Alliance has observed her work In other oontexts as well. From that exper~oe 

we have become famUiar with the folfowilli attributes: 

She understands the oroblem of housing affordabilttv and the ooss bil~ies for solutions. In recent years 

there has been a growing understanding of the impact of homefessness and housi!li instability, not only 

on the people experiencing them, but on our whole society and economy. Their impact on schools, on 

the medi<:al care system, on the welfbeilli of chndren, and on costs to taxpayers has become apparent 

to leaders at the local, state, and national levels. Ms. Patenaude has been steeped in the resulting 

debate about how to address these issues, in a manner that is consistent with the goals and worldlnews 

of people from the full range of politi<:al identifies. 

She has a deep understanding of HUD's programs and what thev can accomplish. Both from her time in 

the leadership team at HUD durilli the Bush Administration, and in her experienoes before and after, 

Ms. Patenaude has become familiar wtth the various HUD programs and how to get the most out of 

them. It was during her time as the Assistant Secretary for Community Plannilli and Development that 

there was a conoerted effort to make HUD's homelessness programs, which came under her oversight, 

much more focused on perlormance and results, leading to inaeases in effectiveness and efficiency. 
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She is attuned to the mission of HUD. Ms. Patenaude has a longstanding personal commitment to 

meet ~ the housing and community development needs of Americans. Her willingness to accept this 

diffioult and important job Is yet another indicator of that commitment. 

As always, we at the National Alliance to End Homelessness are ready to assist this Committee with its 

important work related to homelessness. Please oontact me if you need further information. 

Sincerely, 

Nan Roman 

President and cro 

National Alliance to End Homelessness 
185 


60617099.eps

Jure5,2017 

TheHOO<X<tleMidlaeiCrapo 

Olairman. U.S. Senate Committee on Banking. Housing. and Urban Affairs 

S34 Oirl<sen Senate afire Building 

United Slates Senate 

Washington, OC l610 

The HtraableSimod Brown 

lOOking Member, U.S. SenateCommitteeoo Banking. Housing. and Urban Affairs 

S34 Oirl<sen Senate afire Building 

United 54aresSenate 

Washington, 0C 20510 

IA!ar 01aimm Crapo and Ranking Member BIO'M\ 

~ Natia1al Coondl clStite Hoosing Agmci;s (NCSHA) ispleiml toexpresswrstroogsuppat for 

the nanination cl Pamela Hughes Palenalideto serve as D!putySeaetary of the United States~ d 

Hoosingand Urban D!velopne111 (HUD~ WeCOOUI'61d Presioou Trump lorthisrulstlldingdlokr. We 

a9< theO:mmittee toappi'O\'!! m the run Senal!! to caUinn quiddy Paenaude's appointrret~ so she can get 

to wodc immediately with HUD Seaetary CalSCI1 <Jl the many saioos alford<ille lnlsing dlal~ wr 

cruntiy ronfroots. 

NCSHA and wr rrenbcr stall! Hoosing Fananre Agencies (HFAs) have had the privilege ci working 

with Palenaude in many diffenn hoosing QlpaciOOs over~ years. We are proud to claim 1-e-as me cl 

wr own, as she beg<rl her csteerrel housing aurer working lor the NEw Hampshire Hoosing Finirlce 

Authaity,wr NewHampshin!HFA Sinretllll, she has worked in housing in bdh the pd>licand private 

seoos, £run ma~y ~ ~ves. serving in top leadmp p<6iti01"1S at HUD, the Bipartisan Policy 

Cenn, and the J. Rooald Terwilliger Frundation for Hoosing Atwka's Famifus. 

Previously at HUD,Patenaude led theOffirettCooununity Planning<lld ~'eioprreltand theOffire 

of Field Policy m Mamgernert with distinai.<n Her laterwock at the Bipartisan Policy Center as Director d. 

Hoosing Policy m lor the Center's HousingCanmi>sicn resulted in an OUIStlnlingn!portthat JlOI<'CifuJiy 

~ the critiall and growing affurdable housing crisis gripping wr cruntiy and practical pro~ for 

CKidres;ing it In rer 1mt recent ~ as PresiOOll of the J. Rooakl Terwilliger Foun:Jati<Jllor Hoosing 

Ameri<a's Famili3,. Patenaude has <kmmstnied her oommilment to and gift lor raising awa!\'!ll$ cboul 

affordli>le housing rn:d and the harm it dres to !anill?.s, anununities, and theeccrony. 
186 


60617100.eps

In tre;e pa;itials- <rld in alm- Patenaude has si:1CM'I1 a deep W\derstanding oo mly ci federal 

housing progt<JllSbut also of treappropriae roles of federal,state,<lld local~ in deliveringholmg 

resourCES. 

NCSHA and rur member llate HFA members hiM? enjoyed a strong and productive affurdabk! 

housing pmnership with tre CWeral government over m<~~y dooldes. HUD has lxlen critical to th.-

partre'Silip. We are excited to work with Ms. Palelaude to build mlhat rerord 

HFAsare mnst widely koown for theirsafeandsrund first-tilre horrebuyer lerding programs, whidl 

provide a reli;Dk! srurreof affQrdabk! ~ ll100!y for wa-king fami!X:>s. In a1ditioo, HFAs provide low· 

cost multifamily finclldng to facili~ ti-e development of affordabk! rental horrEs. 

HFAs are tre federal pemmen(s partw in tre aciJninistlltia of several majcr hoosing prognlllS. 

including tre HousingCmdit tax-exEmpt priVlWeactivity Housing Bonds, tiY! HOME lnl'estment l'artn:!rships 

program. and Sedi<J18. They&lW tre full spectrum oflnlsingrml, &an~ tohaneowre'ship. 

NCSHA isanati<X'Ial, llCI\f\1J1iSan..llCI\prolit org<~~izatimlhat ~ treCOUlllry's~ HFAs and 

tre HFAs of tre District of Columbia, New Ya-kOty, tre U.S. Virgin lsla1ds, <r1d Poo-to RicobefureC<J1~ 

and tre Adrninistr<ful. NCiHA has <11 affilicXe llellbecllipof more lhan300 organizatimslhat partrer with 

HFAs and share their mnmilment toaffurdabk! lwsing. 

We urge you to swiftly approve trenaninatim dPam Patenaude to be tre D<puty Secretruy of HUD. 
187 


60617101.eps

May23, 2017 

The Honorable Michael Crapo: 

Chainnan 

Senate Committee on Banking, Housing 

and Urban Affairs 

U.S. Senate 

Washington, DC 20510 

The Honorable Sherrod Brown 

Ranking Member 

Senate Committee on Banking, Housing 

and Urban Affairs 

U.S. Senate 

Washington, DC 20510 

Dear Chairman Crapo and Ranking Member Brown: 

On behalf of Wilson Community Improvement Association, Inc. (WQA), I am writing to express 

our strong support for the nomination of Pam Patenaude to be the next Deputy Secretary of 

the Department of Housing and Urban Development (HUD). WQA is a nonprofit organization 

located in eastern North Carolina with a long history and experience in delivering affordable 

housing to very low to moderate residents in Wilson, NCand surrounding counties. We are the 

oldest Community Development Organization in the state, having been in operations for 49 

years. We have a strong track record across the state, in the housing industry, for delivering 

excellent housing counseling services; developing nationally recognized single family and multi· 

family housing and providing top notch senior services. 

Ms. Patenaude's resume speaks volumes In regards to her ability to lead and manage HUD's 

day·to-day operations, help guide the department to improve our nation's housing stock, and 

help communities prosper. 

As a rural agency that depends heavily on support from HUD to provide housing and supportive 

services for North Carolina; we whole-heartedly ask you to approve the nomination of Ms. 

Patenaude as the next Deputy Secretary of the Department of Housing and Urban 

Development. 

Sincere{y, 

1lar6ara C. 1l(acliston, 1lroker 

'ExeCJLtive 1Jirector 

'WilSon Community Improvement .Jl.ssociation, Inc. (WOJ\) 
188 


60617102.eps

NRMLA and Nli&RA Support Appointment of Pam Patenaude 

On behalf of the membership of both the National Reverse Mortgage Lenders Association and 

the National Housing & Rehabilitation Association, I wanted to express our strong support for 

the nomination of Pam Patenaude as the Deputy Secretary for the Department of Housing and 

Urban Development. 

Pam Pate.naude has been a good friend, advocate, and leader for affordable housing. She 

understands HUD and its missiort Sbe wants to focus on making HUD work for low-income 

Americans. NRMLA worked with her when she was at the Bipartisan Policy Commission. 

NH&RA worked with her during her time at the Terwilliger Foundation. She recognizes the 

aftordable housing crisis and has spent the last decade working on solutions. We are grateful for 

her understanding of our issues and the need for seniors to have the option and support to age in 

place. 

G:k.~ Peter Belt 

President & CEO 

NRMLA 

NH&RA