Treasury Secretary Steven Mnuchin says tax reform by August is 'not realistic'
Treasury Secretary Steven Mnuchin admitted Monday that getting a tax reform bill to President Trump's desk by August is "not realistic." Mnuchin himself originally set the deadline in late February, just a week after he was sworn in to lead the Treasury Department.
Speaking to the Financial Times, Mnuchin said the late summer deadline was "highly aggressive to not realistic at this point," citing the failed health-care negotiations last month as part of the reason for the delay. Instead, the Treasury chief said he expected a tax overhaul by the end of 2017.
In an interview with Fox News that aired last week, Trump also seemed to waffle on the ambitious timeline. In a discussion about health-care reform, the president said, "I don't want to put deadlines. Health care is gonna happen at some point. Now, if it doesn't happen fast enough, I'm gonna start taxes. Tax reform and tax cuts are better if I do health care first." Trump backed the Republican-led American Health Care Act, which failed last month.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The White House initially signaled it would move on to tax reform even without a health-care overhaul, but in recent weeks efforts have been taken to restart failed health-care talks. Significant tax reform has not been completed since 1986.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kimberly Alters is the news editor at TheWeek.com. She is a graduate of the Medill School of Journalism at Northwestern University.
-
'Republicans want to silence Israel's opponents'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Poland, Germany nab alleged anti-Ukraine spies
Speed Read A man was arrested over a supposed Russian plot to kill Ukrainian President Zelenskyy
By Peter Weber, The Week US Published
-
Today's political cartoons - April 19, 2024
Cartoons Friday's cartoons - priority delivery, USPS on fire, and more
By The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published