Pursuits
Treasury Pick Mnuchin Says Tax Cuts to Double U.S. Growth
- Says he will label China a currency manipulator if warranted
- Corporate tax rate to drop to 15 percent, Mnuchin says
What Does Steve Mnuchin Bring to U.S. Treasury?
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U.S. Treasury Secretary-nominee Steven Mnuchin outlined an economic agenda aimed at almost doubling the growth rate of the current expansion, saying he will boost jobs by making tax reform his overriding priority.
Mnuchin, speaking Wednesday on CNBC alongside Wilbur Ross, the billionaire investor who is President-elect Donald Trump’s pick to be Commerce secretary, said tax cuts for businesses and the middle class, fewer regulations, infrastructure investment and bilateral trade deals can help the world’s largest economy achieve 3 percent to 4 percent growth. The U.S. expansion has averaged 2.1 percent at an annual rate since the end of the 2007-2009 recession.