Daley, a former Clinton Commerce secretary, is presently the head of Midwest operations for JPMorgan Chase and is the former president of the phone company SBC Communications Inc.
Daley is a center-right Democrat. He opposed two of Obama’s biggest initiatives, the Dodd-Frank financial reform, which he lobbied against, and Obamacare health reform. He also is a free trader, working hard during the Clinton years to pass NAFTA.
Active in many business groups, Daley is a sure shot to promote an overhaul of the corporate tax code to slash the top marginal rate and broaden the base by eliminating unnecessary credits and deductions.
As part of the new Clinton group taking over the Obama White House, he surely will expedite the next round of across-the-board budget cutting, which, along with business tax reform, will be a key issue on the agenda. It’s even possible that he will accommodate some kind of deal to revise Obamacare as the GOP makes its important push to overturn it.