Metro USA (New York) - - News -

1 U.S. Trea­sury Sec­re­tary Steven Mnuchin told law­mak­ers that he has some doubts that what are known as al­ter­nate scor­ing mod­els will give enough credit to the po­ten­tial for eco­nomic growth when as­sess­ing the im­pact of the Trump ad­min­is­tra­tion’s tax plan. In late April, the ad­min­is­tra­tion put out a one-page over­view of its tax re­form plans, which would cut taxes for busi­nesses t o 15 per­cent, as well as cut­ting taxes and sim­pli­fy­ing in­come tax brack­ets for in­di­vid­u­als. Crit­ics ques­tioned how the tax cuts would be off­set with­out driv­ing up the fed­eral deficit. “What I have said re­peat­edly is that any plan we put for­ward we be­lieve should be paid for with eco­nomic growth,” Mnuchin told the Se­nate Bank­ing Com­mit­tee.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.