Paul O’Neill, an ex-Treasury secretary who broke with George W. Bush over tax policy and then produced a book critical of the administration, has died.
Paul O’Neill, a former Treasury secretary who broke with George W. Bush over tax policy and then produced a book critical of the administration, died Saturday. He was 84.
Tony Fratto, who served as O’Neill’s Treasury spokesman, posted on Facebook, “Very sad that our friend Paul O’Neill passed away today. He was a friend, a good man, and I loved working with him.”A former head of aluminum giant Alcoa, O’Neill served as Treasury secretary from 2001 to late 2002. He was forced to resign after he objected to a second round of tax cuts because of their effect on deficits.
He said major decisions were often made by Bush’s political team and Vice President Dick Cheney. O’Neill had been recruited to join the Cabinet by Cheney, his old friend from the Gerald Ford administration. But it was Cheney who told O’Neill that the president wanted his resignation. It was part of a move by Bush to shake up his economic team and find a better salesman for a new round of tax cuts the president hoped would stimulate a sluggish economy.
He also devoted time in retirement to projects that would deliver clean drinking water to Africa. As Treasury secretary, O’Neill had focused attention on poverty and combating diseases such as AIDS in Africa, touring the continent with Irish rock star Bono.Before joining Alcoa, O’Neill had been president from 1985-87 of International Paper Co., a firm he had joined in 1977 after leaving OMB.
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