President Donald J. Trump awarded the Presidential Medal of Freedom to Arthur B. Laffer earlier today. This prestigious award is the Nation’s highest civilian honor, which may be awarded by the President to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors.
Arthur B. Laffer, the “Father of Supply-Side Economics,” is one of the most influential economists in American history. He is renowned for his economic theory, the “Laffer Curve,” which establishes the strong incentive effects of lower tax rates that spur investment, production, jobs, wages, economic growth, and tax compliance. Dr. Laffer was the first chief economist of the Office of Management and Budget and a top economic advisor to President Ronald Reagan. Among other accomplishments during his distinguished career, he served as a consultant to the Department of the Treasury and Department of Defense. Dr. Laffer’s public service and contributions to economic policy have helped spur prosperity for our Nation.
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