Catherine Cortez Masto Questions Trump Treasury Nominee on Tariffs and ERTC

ERTC Fraud Concerns

• 💡 Senator Cortez Masto raises concerns about the IRS processing Employee Retention Tax Credit (ERTC) claims after a processing freeze was lifted.
• ⚠️ She notes that approximately 90% of ERTC claims were identified as fraudulent, leading to potential billions in improper refunds.
• 🎯 The nominee, Mr. Cord, acknowledges familiarity with ERTC fraud and states that if confirmed, he will have to deal with it as part of his portfolio.

Central Bank Mandates

• 🏦 When asked about central bank roles, the nominee, Mr. Greenstein, emphasizes sticking to core mandates such as price stability and employment.
• ⚖️ He advises that monetary policy decisions should be kept separate from fiscal considerations to avoid complications.

Tariffs as Taxes

• ❓ Senator Cortez Masto directly asks Mr. Greenstein if he believes tariffs are a tax.
• 🚫 Mr. Greenstein defers the question, stating he would refer her to the president's senior trade team, as his role focuses more on currency manipulation and non-tariff measures.