US Treasury to Present Tax Reform Package by August

Posted February 24, 2017

He predicted that President Donald Trump's economic proposals will be able to boost growth significantly to annual rates above 3 percent.

US Treasury Secretary Steven Mnuchin on Tuesday called on the International Monetary Fund to provide "candid analysis" of exchange-rate policies in member countries.

"We are committed to pass tax reform", Mnuchin said in an interview on CNBC.

Some nonpartisan tax experts have forecast that most of Trump's tax plans would benefit upper-income taxpayers rather than the middle class.

During the campaign, candidate Trump had set a goal of achieving growth, as measured by the gross domestic product, of 4 percent or better. The economy has been growing about 2% a year since the recession ended in June 2009. He said Thursday that is still the overall objective, though he cautioned, "We haven't finalized the plan". "We believe we can be competitive and get back to sustainable growth at three percent or more".

Uber CEO Travis Kalanick orders 'urgent investigation' into 'abhorrent' sexual harassment claims
There were two major reasons for this: there was the organizational chaos, and there was also the sexism within the organization. HR erroneously insisted that the potential negative review wouldn't be considered retaliation because she was warned in advance.

Unconfirmed reports suggest that the Trump administration could delay its infrastructure spending program until 2018 because US Congress already faces a heavy legislative schedule this year, with the tax reforms and the overhaul of Obamacare. But he said positive effects would be realized by next year.

"We've been working closely with the leadership in the House and the Senate and we're looking at a combined plan", he told CNBC. And the two camps appear at odds over a controversial border adjustment tax.

Asked if the U.S. Treasury was planning to name China a currency manipulator any time soon, Mnuchin said he would follow its normal process of analyzing the currency practices of major U.S. trading partners.

"We're listening. We understand the concerns".

Mnuchin previously said that the $10 trillion mortgage market is a priority for the Trump administration. "And we've talked about this, currencies are of the things we look at, and that's something I've talked to a lot of my counterparts about". Some housing industry groups and analysts said reform won't happen quickly, because Republican lawmakers are more interested in repealing the Affordable Care Act and overhauling the tax code.