Steve Mnuchin Admits Healthcare Debacle Could Skewer Trump Tax Plan
Image by Getty Images
Treasury Secretary Steven Mnuchin said the Trump administration’s timetable for tax reform is set to falter following setbacks in negotiations with Congress over healthcare, the Financial Times reported on Monday.
Mnuchin told the Financial Times in an interview that the target to get tax reforms through Congress and on President Donald Trump’s desk before August was “highly aggressive to not realistic at this point.”
“It is fair to say it is probably delayed a bit because of the healthcare,” Mnuchin told the newspaper. (http://on.ft.com/2oPJlTX)
Mnuchin also told the Financial Times he agreed with Trump’s view that the dollar’s strength in the short term was hurting exports, but said he saw the currency’s strength over the long term as a positive.
“As the world’s currency, the primary reserve currency, I think that over long periods of time the strength of the dollar is a good thing,” the Financial Times quoted Mnuchin as saying.
Trump has signaled he wants to streamline the income tax system, cut federal regulations, reduce corporate income tax and add new taxes to prod companies to keep or move production to the United States.—Reuters
A message from our CEO & publisher Rachel Fishman Feddersen
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.
We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.
If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.
— Rachel Fishman Feddersen, Publisher and CEO
