Politics
Opinion: The ideas in Project 2025? Reagan tried them, and the nation suffered
Project 2025, the Heritage Foundation’s conservative playbook that would overhaul much of the federal government under a second Trump administration, has sparked fear and concern from voters despite the former president’s attempt to distance his campaign from the plan. But while Project 2025 might seem radical, most of it is not new. Instead, the now-famous document seeks to reanimate many of the worst racial, economic and political instincts of the Reagan Revolution.
Project 2025 begins with its authors (one of whom stepped down last month) boasting of the Heritage Foundation’s 1981 publication “The Mandate for Leadership,” which helped shape the Reagan administration’s policy framework. It hit its mark: Reagan wrote 60% of its recommendations into public policy in his first year in office, according to the Heritage Foundation. Yet the 900-plus-page Project 2025, itself a major component of a new edition of “The Mandate for Leadership,” does not contain any analysis of the economic and social price Americans paid for the revolution the Heritage Foundation and Reagan inspired.
If today’s economic inequality, racial unrest and environmental degradation represent some of our greatest political challenges, we would do well to remember that Reagan and the Heritage Foundation were the preeminent engineers of these catastrophes. Perhaps no day in Reagan’s presidency better embodied his policy transformations or the political ambitions of the Heritage Foundation than Aug. 13, 1981, when Reagan signed his first budget.
This budget dramatically transformed governmental priorities and hollowed out the nation’s 50-year pursuit of government for the common good that began during the New Deal. Once passed, it stripped 400,000 poor working families of their welfare benefits, while removing significant provisions from another 300,000. Radical cuts in education affected 26 million students. The number of poor Americans increased by 2.2 million, and the percentage of Black Americans living in poverty rose to a staggering 34.2%.
Of course, this was just the beginning of Reagan’s war on the poor, the environment and education. Following a Heritage Foundation plan, the Environmental Protection Agency’s operating budget would fall by 27%, and its science budget decreased by more than 50%. Funding for programs by the Department of Housing and Urban Development that provided housing assistance would be cut by 70%, according to Matthew Desmond’s “Poverty, By America.” Homelessness skyrocketed. And, as Project 2025 proposes, Reagan attempted to eliminate the Department of Education but settled for gutting its funding in a manner that set public education, in the words of author Jonathan Kozol, “back almost 100 years.” As funding for these issues nosedived under Reagan, financial support for the “war on drugs” skyrocketed and the prison population nearly doubled.
All the while, protections provided to the wealthy ballooned. Tax rates on personal income, corporate revenue and capital gains plummeted. For example, the highest income tax rate when Reagan took office was 70%. He would eventually lower it to 33%.
To ensure that wealth would be a long-lived family entitlement, Reagan instituted a 300% increase in inheritance tax protections through estate tax exemptions in his first budget. In 1980, the exemption stood at $161,000. By the time Reagan left office in 1989 it was $600,000. Today it is $13,610,000. This means that today nearly all wealthy children enjoy tax-free access to generational wealth.
And beginning during Reagan’s presidency, the number of millionaires and billionaires multiplied, increasing 225% and 400%, respectively, while the poverty of Americans across racial lines intensified. Even white males were more likely to be poor following Reagan’s presidency. Today poverty is the fourth-leading cause of death in the U.S., even though this is the wealthiest nation in the world.
If we feel like we live in a country that isn’t working for anyone who isn’t wealthy, these are some of the core reasons why. Looking back at the Reagan era and the Heritage Foundation’s original “Mandate for Leadership,” we must remember that our domestic wounds are largely self-inflicted, results of buying into racial, economic and environmental lies that continue to be sold. It is precisely the types of policies that devastated the nation during the Reagan administration that Project 2025 now seeks to resuscitate. Perhaps the only truly new thing Project 2025 suggests is using more authoritarian means to enact its agenda.
History has hinges, moments that change the trajectory of nations. The greatest progress in our country has almost always emerged during turbulent times. It is up to the United States’ most committed believers to close the door on terror and trauma and open one that leads to new democratic possibilities.
Our current moment represents more than an election. It is a turning point that has the potential to transform the United States for generations to come. We don’t need the version of the past that Project 2025 is trying to sell us. It didn’t work for most Americans then, and it won’t work for most of us now. But perhaps Project 2025 is the push the Democratic Party needed. While the Republican Party veers further into authoritarianism, Democrats must be equally determined to develop a truly equitable democracy and bind the wounds of a deeply divided nation.
Joel Edward Goza, a professor of ethics at Simmons College of Kentucky, is the author of the forthcoming book “Rebirth of a Nation: Reparations and Remaking America.”
SAN FRANCISCO — With the California governor’s race quickly approaching, six candidates will face off Wednesday evening in the first debate since former Rep. Eric Swalwell dropped out of the race in the aftermath of sexual assault and misconduct allegations.
The debate takes place at a critical moment in the turbulent contest to replace termed-out Gov. Gavin Newsom. Ballots will start landing in Californians’ mailboxes in less than two weeks, and voters are split by a crowded field of eight prominent candidates. The debate also takes place after former state Controller Betty Yee ended her campaign because of a lack of resources and support in the polls.
Two Republicans — Riverside County Sheriff Chad Bianco and conservative commentator Steve Hilton — and four Democrats — billionaire Tom Steyer, former Biden administration Secretary Xavier Becerra, former Orange County Rep. Katie Porter and San Jose Mayor Matt Mahan — will take the stage at Nexstar’s KRON4 studios in San Francisco. Former Los Angeles Mayor Antonio Villaraigosa and state Supt. of Public Instruction Tony Thurmond, both Democrats, were not invited to participate because of their low polling numbers.
As the candidates strive to distinguish themselves in a crowded field, the debate could include fiery exchanges about the role of money in politics and potential heightened attacks on Becerra, who has surged in the polls since Swalwell dropped out. With the debate taking place on Earth Day, environmental issues are also likely to be raised.
The Wednesday night gathering is the first televised debate in the gubernatorial contest since early February. Last month, USC canceled a debate hours before it was set to begin over mounting criticism that its criteria excluded all major candidates of color.
The 7 p.m. debate is hosted by Nexstar and will be moderated by KTXL FOX40 anchor Nikki Laurenzo and KTLA anchor Frank Buckley. It can be viewed on KRON4 (San Francisco), KTLA5 (Los Angeles), KSWB/KUSI (San Diego), KTXL (Sacramento), KGET (Bakersfield) and KSEE (Fresno). NewsNation will also air the debate.
new video loaded: Virginia Voters Approve New Map Favoring Democrats
By Shawn Paik
April 22, 2026
NEWYou can now listen to Fox News articles!
Sparks flew on Capitol Hill as Sen. Elizabeth Warren, D-Mass., accused Federal Reserve nominee Kevin Warsh of being a potential “sock puppet” for President Donald Trump.
Warsh, tapped by Trump in January to lead the Federal Reserve, faced a two-and-a-half-hour confirmation hearing before the Senate Banking, Housing, and Urban Affairs Committee.
If confirmed, he would take the helm of the world’s most powerful central bank, shaping interest rates, borrowing costs and the financial outlook for millions of American households for the next four years.
WHO IS KEVIN WARSH, TRUMP’S PICK TO SUCCEED JEROME POWELL AS FED CHAIR?
Kevin Warsh, nominee for chairman of the Federal Reserve, listens to ranking member Sen. Elizabeth Warren, D-Mass., make an opening statement during his Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Tuesday, April 21, 2026. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
In her opening remarks, Warren sharply criticized Warsh’s record and questioned his independence, arguing he is “uniquely ill-suited for the job as Fed chair” and warning he could give Trump influence over the central bank.
She accused Warsh of enabling Wall Street during the 2008 financial crisis, which fell during his tenure as a Federal Reserve governor when he served from 2006 to 2011.
“In our meeting last week, we discussed the 2008 financial crash, where 8 million people lost their jobs, 10 million people lost their homes and millions more lost their life savings,” Warren said. “Giant banks, however, got hundreds of billions of dollars in bailouts… and he said to me that he has no regrets about anything he did.”
She added that Warsh “worked tirelessly to arrange multibillion-dollar bailouts” for Wall Street CEOs, with nothing for American families.
The hearing grew more tense as Warren pivoted to ethics concerns, pressing Warsh over his undisclosed financial holdings and questioning him over links to business dealings connected to the late convicted sex offender Jeffrey Epstein.
The two spoke over each other and raised their voices in a heated exchange on Capitol Hill.
WARSH’S $226 MILLION FORTUNE UNDER SCRUTINY AS FED NOMINEE FACES SENATE CONFIRMATION
Sen. Elizabeth Warren: The Fed has been plagued by deeply disturbing ethics scandals in recent years. It’s critical that the next chair have no financial conflicts — none. You have more than $100 million in investments that you have refused to disclose. So let me ask: do the Juggernaut Fund or THSDFS LLC invest in companies affiliated with President Trump or his family, companies tied to money laundering, Chinese-controlled firms, or financing vehicles linked to Jeffrey Epstein?
Kevin Warsh: Senator, I’ve worked closely with the Office of Government Ethics and agreed to divest all of my financial assets.
Warren: Could you answer my question, please? You have more than $100 million in undisclosed assets. Are any of those investments tied to the entities I just mentioned? It’s a yes-or-no question.
Warsh: I have worked tirelessly with ethics officials and agreed to sell all of my assets before taking the oath of office.
Warren: Are you refusing to tell us if you have investments in vehicles linked to Jeffrey Epstein? You just won’t say?
Warsh: What I’m telling you is those assets will be sold if I’m confirmed.
Warren: Will you disclose how you plan to divest these assets? The public might question your motives if, for example, someone who profits from predicting Fed policy cuts you a $100 million check as you take office.
Sen. Elizabeth Warren questions Kevin Warsh during his Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Tuesday, April 21, 2026. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
Warsh: I’ve reached a full agreement with the Office of Government Ethics and will divest those assets before taking the oath.
Warren: I’m asking a very straightforward question. Will you disclose how you divest those assets?
Warsh: As I’ve said, I’ve worked with ethics officials.
Warren: I’ll take that as a no.
In a separate exchange, Warren invoked Trump’s past statements about the Fed and challenged Warsh to prove his independence in real time.
She insisted that Warsh answer whether he believes Trump won the 2020 presidential election and if he would name policies of the president with which he disagrees. The hopeful future Fed chair dodged the question and said he would remain apolitical, if confirmed.
THE ONE LINE IN WARSH’S TESTIMONY SIGNALING A BREAK FROM THE FED’S STATUS QUO
Warren: Donald Trump has made clear he does not want an independent Fed. He has said, “Anybody that disagrees with me will never be Fed chairman.” He’s also said interest rates will drop “when Kevin gets in.” Let’s check out your independence and your courage. We’ll start easy. Mr. Warsh, did Donald Trump lose the 2020 election?
Warsh: Senator, we should keep politics out of the Federal Reserve.
Warren: I’m asking a factual question.
Warsh: This body certified the election.
Warren: That’s not what I asked. Did Donald Trump lose in 2020?
Warsh: The Fed should stay out of politics.
Warren: In our meeting, you said you’re a “tough guy” who can stand up to President Trump. So name one aspect of his economic agenda you disagree with.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Kevin Warsh listens to a question during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on Tuesday, April 21, 2026. (Graeme Sloan/Bloomberg via Getty Images)
Warsh: That’s not something I’m prepared to do. The Fed should stay in its lane.
Warren: Just one place where you disagree.
Warsh: I do have one disagreement — he said I looked like I was out of central casting. I think I’d look older and grayer.
Warren: That’s adorable. But we need a Fed chair who is independent. If you can’t answer these questions, you don’t have the courage or the independence.
-
Politics6 minutes ago
As primary election nears, top candidates for California governor debate tonight
-
Science12 minutes ago44% of Americans breathe dangerously polluted air. In California, it’s 82%
-
Sports18 minutes agoKings’ close playoff losses to Avalanche stoke confidence and frustration
-
World30 minutes ago‘Blockade and threats’: Iran blames US siege of ports for stalled talks
-
News60 minutes agoPentagon says Navy secretary is leaving, the latest departure of a top defense leader
-
New York3 hours agoGunman Who Killed Baby in Brooklyn Was Targeting Her Father, Police Say
-
Detroit, MI3 hours agoHow these Detroit farmers are fighting for neighborhood food security
-
San Francisco, CA3 hours agoS.F. hospital stabbing analysis confirms Mission Local reporting on security lapses