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renegadebusdallas.com November 20, 2017


Trump officials temper expectations for 15 percent corporate tax rate

13 September 2017, 12:45 | Marta Robbins

David A. Grogan | CNBC. Steven Mnuchin said tax reform is Trump's top priority assuring that the administration will pass a tax

Mnuchin says considering backdating tax cut to January 1 Would be 'boon&apos to economy

"Ideally, he'd like to get it down to 15 percent. Passing tax reform, which hasn't been done in 31 years, that's a win", the Treasury chief said Tuesday, adding that stock markets have a "built-in" expectation of success. "What the exact number is, we'll see".

In an interview with CNBC, Mnuchin also said the administration would "absolutely" consider making the tax cuts effective back to the start of this year if a measure didn't pass until 2018. Trump may seek more disaster aid Bipartisan bill would force Treasury to put Tubman on bill Judd Gregg: The complex path to tax simplification MORE is defending President Trump's Republican bonafides, which have been questioned after the president struck a fiscal deal with Democrats in Congress.

Steve Mnuchin to Wall Street: Time to pay up.

Democratic leaders including Mr. Schumer and Senator Ron Wyden of OR, the ranking Democrat on the Senate Finance Committee, are set to unveil a report on Tuesday finding that eliminating with the estate tax would mostly benefit the wealthiest Americans.

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Hedgies typically have their income taxed at a lower "carried interest" rate, since it's considered a share of the company's profits. But other firms-"entities that do create jobs", Mnuchin said-may still qualify.

The possibility of backdating any tax cuts is a sign that President Donald Trump's plans might face additional delays. "We want to make sure that we encourage jobs, so that is something we are working on", he said.

Asked for details, Mnuchin demurred, saying: "I know this issue is incredibly important to everybody in this room - it is less important to the American people".



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