Treasury Secretary Sees 'Significant' Tax Reform by the End of this Summer

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Treasury Secretary Sees 'Significant' Tax Reform by the End of this Summer

Feb, 27th 2017

Treasury Secretary Steven Mnuchin said Thursday the Trump administration aims to pass “significant” tax reform, including tax cuts for middle-class Americans, by August but it will likely be late next year before the changes juice economic growth.

“The No. 1 issue is growth and the most important thing that will impact growth is a tax plan,” Mnuchin said on CNBC in his first televised interview since being confirmed. “We are committed to passing tax reform. It’s going to be very significant. It’s going to be focused on middle class tax cuts and making the business tax more competitive with the rest of the world.”

Most U.S. corporations pay a federal tax rate of 35%, highest among advanced economies. President Trump has proposed reducing the rate to 15%. Mnuchin said the...

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