Treasury Secretary Steven Mnuchin “laid out ambitious goals to secure a U.S. tax-code overhaul by August and to deliver economic growth at rates not seen in more than a decade,” the Wall Street Journal reports.
“Mr. Mnuchin said the administration was working with House and Senate Republicans to smooth over differences among them on tax policy, with the aim of passing major legislation before Congress leaves for its August recess. He added, ‘that’s an ambitious timeline. It could slip to later in the year.'”
Playbook: “This is the most ambitious timeline envisioned by the biggest optimists on Capitol Hill. Congress isn’t planning to turn its focus to tax reform until the summer, and this deal won’t get done in a few months — mark our words. The 1986 tax reform bill was introduced in December of 1985 and didn’t get to Ronald Reagan’s desk until October of 1986. That was a much less partisan time, a simpler business climate and a world without Twitter and cable television.”
Save to Favorites