Donald Trump’s Treasury Secretary Steve Mnuchin announces ‘biggest tax cut in history’

26 Apr

The president sent his team to Capitol Hill on Tuesday night to discuss his plan with Republican leaders.

Senator Orrin Hatch of Utah, chairman of the Senate Finance Committee, said: “They went into some suggestions that are mere suggestions and we’ll go from there.”

Under the Obama administration Republicans slammed the growing national debt.

They are open to Mr Trump’s plan even though, under some estimates, it risks adding trillions of dollars in debt over the next decade.

Mr Mnuchin says that will offset by economic growth.

Senator Hatch said: “I’m not convinced that cutting taxes is necessarily going to blow a hole in the deficit.

“I actually believe it could stimulate the economy and get the economy moving. Now, whether 15 per cent is the right figure or not (for corporate tax) that’s a matter to be determined.”

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