Mark Cuban, the billionaire investor and owner of the Dallas Mavericks, volunteered himself for a key position in Kamala Harris’ administration should she defeat Donald Trump in November.
Speaking on CNBC’s show “Squawk Box” on Thursday, Cuban praised the Harris campaign as having open, consistent communication with business leaders. He said he talked to her team three or four times a week and added that, compared with prior administrations, hers had been the “most open.”
In fact, Cuban offered to join the team himself. When asked whom Harris should appoint to key positions, like the chairs of the Federal Trade Commission and the Securities and Exchange Commission, Cuban wasn’t shy.
“I told her team, look, put my name in for the SEC,” he said. “It needs to change.”
Cuban stuck by the proposal when Business Insider asked him about it.
“It’s something I could do to have an impact,” he said.
Cuban isn’t alone in wanting to reform the SEC. Many business and tech leaders have been frustrated with the Biden administration’s appointments of Lina Khan to the FTC and Gary Gensler to the SEC. Khan has been aggressive in reining in monopoly power and corporate mergers, while Gensler has sought to increase regulation of crypto.
When the “Squawk Box” host Andrew Ross Sorkin said many business leaders had criticized President Joe Biden as failing to surround himself with anyone from the private sector, Cuban agreed. But he said he was confident that Harris is more “pro-business” than her current boss.
“She’s talked more about entrepreneurs and helping them have access to investment and making it easier for people to invest in startups than any president that I’ve ever heard,” he said.
Cuban praised Harris’ recent proposal to scale back Biden’s desired capital-gains tax — Biden wants the rate to be 39.6%, whereas she supports a rate of 28%. The long-term capital-gains tax is collected when an investor sells an investment — or, in other words, realizes gains. Cuban also celebrated her proposal with a post on X.
A CNN report said Harris believes a slightly lower rate would spur investors to pour more money into startups.
“She’s going center 100%,” Cuban said.
