President Donald Trump is leaning toward preserving a trillion-dollar tax break for corporate borrowers -- a move that economists say could jeopardize his goal of robust economic growth.
The administration’s “preference” is to keep so-called interest deductibility, which allows companies to subtract interest payments from taxable income, Treasury Secretary Steven Mnuchin told The Economist in a joint interview with Trump. Their remarks, published Thursday, reveal a new fissure between Trump’s vision for tax policy and that offered by House Speaker Paul Ryan.
