Mnuchin won’t guarantee middle-class tax cut

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Treasury Secretary Steven Mnuchin said on Thursday the Trump administration’s goal in tax reform is a middle-class tax cut, but he couldn’t guarantee one.

“That’s our objective, absolutely,” Mnuchin told ABC’s George Stephanopoulos on "Good Morning America." “I can’t make any guarantees until this is done and on the president’s desk.”

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“Although we’re not releasing the specific numbers,” as what the administration wants to do to the tax code that would help middle-class Americans, Mnuchin said. “This is about creating economic effects and tax cuts for the middle class.”

The plan rolled out by the administration Wednesday was light on specifics or new details, mostly setting goals to lower taxes across the board and simplify the code without detailing how to achieve that or pay for it.

Two specifics provided were lowering of business income rate by more than half, as well as eliminating the alternative minimum tax.

Pressed as to how the tax plan might affect the president’s own taxes, Mnuchin begged off.

“Let me just say this isn’t about President Trump’s tax returns. This is about the American public’s tax returns,” the Treasury secretary said.

Source Politico