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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
"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".
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.
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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China cracks down hard on Bitcoin exchanges
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UM leads MI universities in college rankings
The rankings focus on student outcomes - including graduation and retention rates - which carry the most weight at 30 percent. TCNJ also ranked as the top university for veterans in the region and second in the region for Best Undergraduate Teaching.