In testimony before Congress today and yesterday, Secretary Mnuchin confirmed that he backtracked on his promise that Trump’s tax bill would not benefit the wealthiest Americans.
THEN:
Mnuchin pledged that Trump’s tax bill would not benefit the highest earners.
Bloomberg: “Mnuchin said in late November that Trump’s tax plan would benefit middle-class taxpayers, not the highest earners — an assurance that some Democrats quickly labeled ‘the Mnuchin Rule.’”
NOW:
Mnuchin said yesterday that Trump would not veto a tax reform bill that violates the “Mnuchin Rule” by providing tax cuts to the wealthiest Americans.
Bloomberg: “President Donald Trump won’t veto a tax bill even if it provides the wealthiest Americans with a tax cut, according to Treasury Secretary Steven Mnuchin.”
Mnuchin confirmed today that he walked back his promise about avoiding tax cuts for the wealthy.
Bloomberg: “‘I have walked it back from my CNBC interview,’ Mnuchin said Tuesday. The Treasury chief said he and the president are focused on reaching agreement with congressional leaders now.”
