Treasury secretary: Trump's middle-class tax cut on hold
by Katelyn Caralle
| December 18, 2018 08:53 PM
Treasury Secretary Steven Mnuchin said a 10 percent tax cut for the middle class President Trump called for ahead of the midterm elections is on the back burner.
"I'm not going to comment on whether it is a real thing or not a real thing," Mnuchin told Bloomberg in an interview Tuesday. "I'm saying, for the moment, we have other things we're focused on."
Mnuchin said that the administration is putting the middle-class tax cut on the back-burner while the Department of the Treasury works with Congress on “some minor technical corrections,†like fixing mistakes in the 2017 tax overhaul.
Trump said in late October that he would introduce a “resolution†for a middle-class tax cut, on top of last year's tax reform, before the midterm elections. No such resolution was proposed.
Trump made the vague announcement days before the midterm elections to alleviate concerns that Democrats raised over the GOP tax plan, which they claimed would benefit corporations and the wealthy more than middle-class Americans.
https://www.washingtonexaminer.com/policy/economy/treasury-secretary-trumps-middle-class-tax-cut-on-hold
