Ford Scudder
Ford Scudder is a former New Jersey treasurer. He was appointed by New Jersey Governor Chris Christie (R) and sworn in as acting state treasurer on November 9, 2015. He succeeded former Treasurer Andrew Sidamon-Eristoff, who resigned in 2015. Scudder was confirmed by the New Jersey State Senate on September 16, 2016, and sworn into office as state treasurer on September 20, 2016.[1][2][3] He was succeeded by Elizabeth Maher Muoio.
Biography
Prior to being appointed treasurer, Scudder served as the chief operating officer of the Tennessee-based Laffer Associates, an economic research firm founded by Arthur Laffer. Laffer formerly served as an economic advisor to President Ronald Reagan. Scudder also worked as a senior analyst at Laffer Investments, where he analyzed and invested in public equities.[2][1]
Education
- B.A. in economics, Princeton University
- M.B.A., Vanderbilt University’s Owen Graduate School of Management[2]
Political career
New Jersey Treasurer (2015-2018)
Scudder was appointed acting New Jersey treasurer by Gov. Chris Christie and sworn into office on November 9, 2015. Scudder took over for former interim Treasurer Robert Romano, who had been serving since July 6, 2015. Scudder was confirmed by the New Jersey State Senate on September 16, 2016, and sworn into office as state treasurer on September 20, 2016.[2]
Criticisms of Scudder's nomination
New Jersey Senate President Stephen Sweeney (D) criticized Scudder's nomination because of his ties to former Reagan advisor Arthur Laffer. Laffer is a proponent of "trickle-down economics," which holds that reducing taxes on the wealthy can foster greater economic growth. In a 2013 opinion piece, Scudder reiterated this philosophy:
| “ | Policies that decrease the incentives of people and business to work, save and produce -- such as high tax rates, a high minimum wage, and forced unionization -- lead to increased unemployment and outmigration from the area.[1][4] | ” |
In a statement made after Scudder's appointment, Sen. Sweeney criticized Scudder's economic philosophy and said that Scudder's appointment raised a number of "questions and concerns." The senator continued continued:
| “ | As the former chief operating officer of Laffer Associates, he is deeply tied to a failed economic philosophy that treated working people and the poor with disdain. New Jersey is not the place to reintroduce the policies that caused so much lasting damage to the economy and left middle class families and the working poor to struggle against economic forces that worked against them.[1][4] | ” |
See also
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External links
Footnotes
- ↑ 1.0 1.1 1.2 1.3 NJ Spotlight, "Disciple of 'supply-side economics' guru tapped to fill treasury's top job," accessed August 22, 2016
- ↑ 2.0 2.1 2.2 2.3 State of New Jersey Department of the Treasury, "Office of the State Treasurer," accessed January 2, 2018
- ↑ Email correspondence received by Ballotpedia on January 2, 2018.
- ↑ 4.0 4.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
| Political offices | ||
|---|---|---|
| Preceded by Robert Romano (interim) Andrew Sidamon-Eristoff |
New Jersey State Treasurer 2015-2018 |
Succeeded by Elizabeth Maher Muoio |
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