Steven Mnuchin awkwardly hints that Trump made up that middle-class tax cut
No one could find evidence of the middle-class tax cut plan President Trump kept promising before November's midterms. Now, Treasury Secretary Steven Mnuchin won't even confirm it ever existed.
In a Tuesday interview, Mnuchin told Bloomberg the administration's top priority for next year is fixing 2017's tax overhaul. And as for the mysterious tax cut, well, Mnuchin said he was "not going to comment on whether it is a real thing or not a real thing."
The Tax Cuts and Jobs Act was passed last December and lauded in a documentary series from House Speaker Paul Ryan (R-Wisc.) released Tuesday. But its final form largely neglected promised tax cuts for the middle class, instead largely benefiting high-income Americans while raising the federal deficit by an projected $1.4 trillion in 10 years. Mnuchin didn't mention those issues when talking to Bloomberg, but said the administration will issue "some minor technical corrections" in early 2019.
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.
Flash forward to October, just weeks before the midterms, and Trump again starts mentioning "a major tax cut for middle-income people." Mnuchin also affirmed he and House Republicans were working on a new tax plan to be released "shortly," Bloomberg says. Republicans, meanwhile, didn't know what Trump and Mnuchin were talking about.
When Bloomberg asked about that October hint on Tuesday, Mnuchin simply said "we have other things we're focused on." Which seems to be a fancy way of saying it's very, very far on the back burner.
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
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
Aid to Ukraine: too little, too late?
Talking Point House of Representatives finally 'met the moment' but some say it came too late
By The Week UK Published
-
5 generously funny cartoons on the $60 billion foreign aid package
Cartoons Artists take on Republican opposition, aid to Ukraine, and more
By The Week US Published
-
Knife: Salman Rushdie's 'mesmeric memoir' of brutal attack
The Week Recommends The author's account of ordeal which cost him his eye is both 'scary and heartwarming'
By The Week Staff 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