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.
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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.
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