US Treasury Sec Mnuchin: Tax plan will pay for itself through economic growth

Eren Sengezer FXStreet

US Treasury Secretary Mnuchin ic out on the wires, with key quotes, via Reuters, found below:

Trump tax plan is scored to 2.9 percent GDP growth over 10 years
Trump tax plan will pay for itself through economic growth
Trump tax plan projections on GDP growth are 'very reasonable'
There is the possibility of a fourth individual income tax rate
Federal government should not be in the business of subsidizing states
Trump's non-negotiable aspect of tax plan is 20 pct corporate tax rate
Debt ceiling issue needs to be fixed
Comfortable government can currently be funded through January 2018
Hope as part of December congressional negotiations the debt ceiling will be extended
U.S. can get to higher than 3 pct GDP growth on sustainable basis
Would like to make tax plan retroactive to beginning of 2017
Treasury has made two giant cash shipments to Puerto Rico

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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