Mnuchin Reversal on Rich Tax Cuts Stirs Clash With Democrat
- Treasury chief says he’s walked back bar on wealthy tax break
- Mnuchin says legislative process means compromises on taxes
Mnuchin Walks Back Own Rule on Tax Cuts for Wealthy
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The top Democrat on the tax-writing Senate Finance Committee said a bipartisan tax deal is impossible if Treasury Secretary Steven Mnuchin can’t commit to an overhaul that avoids giving the highest-earning Americans a tax cut.
“We will not get bipartisan tax reform when the Secretary of Treasury walks back a pledge to have no absolute tax cuts for the wealthy,” Ron Wyden, an Oregon Democrat, said Tuesday during a Senate Budget committee hearing.